FNKO - JAKKS Pacific Q1 ER: Mixed Results With Good Outlook For 2025

2024-05-13 07:59:56 ET

Summary

• JAKKS Pacific's Q1 2024 results show mixed performance, with revenue of $90.1M (12% higher than expected) but adjusted EPS of -$1.09 (28% worse than expected).
• The company had previously anticipated weak results for the first half of 2024 due to a lack of successful children's movies, and Q1 results confirmed this with a 16% decrease in revenue compared to Q1 2023.
• Higher inventory obsolescence and retailer markdowns have negatively impacted gross profit margin, resulting in a loss of 580 basis points.
• The multiple licenses of Disney's upcoming children's films, as well as new commercial agreements with well-known brands for the sale of various products, make JAKKS very optimistic about the evolution of the business for the end of this year 2024 and all of 2025.

JAKKS Pacific ( JAKK ) recently reported its results for the first quarter of 2024. Results have been mixed, with revenue of $90.1 million (12% higher than expected) and adjusted earnings per share of $-1.09 (28% worse than expected)....

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