- JAKKS Pacific ( NASDAQ: JAKK ) stock jumped ~17% postmarket after the toy maker reported better-than-expected Q3 results , driven by strong demand for its toys and consumer products.
- The company reported Q3 adj. EPS of $3.80 vs. $3.76 in Q3 2021.
- Revenue grew 36.3% Y/Y to $323M, led by a 56% increase in toy/consumer product sales (at $269.6M).
- Sales from costumes fell 17% to $53.4M as Halloween customers placed their orders earlier this year.
- JAKKS ( JAKK ) said its YTD net sales were $664.3M, surpassing 2021 net sales of $621.1M.
- "Our top three toy accounts in the U.S. sustained point of sale results in the high teens in Q3 as we head into Q4. We are on track to deliver 2022 revenue growth of ~20%," said CEO Stephen Berman.
- He added that the firm already shipped 25% more costumes this year vs. 2021.
- Inventory levels remain elevated at $109.2M, of which $20.5M was in-transit to distribution centers, vs. $123.7M total inventory as of Jun. 30.
- Shares of JAKKS ( JAKK ), which ended 7% lower ahead of reporting results, gained 68.5% YTD.
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JAKKS Pacific stock jumps 17% after the bell as strong demand drives earnings beat