Calbee, Inc. Just Missed Earnings - But Analysts Have Updated Their Models

Investors in Calbee, Inc. (TSE:2229) had a good week, as its shares rose 2.6% to close at JP¥2,941 following the release of its half-yearly results. Statutory earnings per share fell badly short of expectations, coming in at JP¥25.95, some 32% below analyst forecasts, although revenues were okay, approximately in line with analyst estimates at JP¥84b. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

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Taking into account the latest results, the current consensus from Calbee's six analysts is for revenues of JP¥340.9b in 2026. This would reflect a reasonable 2.9% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to step up 15% to JP¥156. Yet prior to the latest earnings, the analysts had been anticipated revenues of JP¥341.0b and earnings per share (EPS) of JP¥157 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

View our latest analysis for Calbee

It will come as no surprise then, to learn that the consensus price target is largely unchanged at JP¥3,033. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Calbee analyst has a price target of JP¥3,600 per share, while the most pessimistic values it at JP¥2,600. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Calbee's past performance and to peers in the same industry. The period to the end of 2026 brings more of the same, according to the analysts, with revenue forecast to display 5.9% growth on an annualised basis. That is in line with its 5.8% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 3.3% annually. So although Calbee is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Calbee going out to 2028, and you can see them free on our platform here..

You should always think about risks though. Case in point, we've spotted 1 warning sign for Calbee you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.