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Mar 31, 2022
JAKKS Q1 2022 Earnings Report
JAKKS Pacific reported financial results with highest Q1 net sales and earnings per share in 14 years.
Key Takeaways
JAKKS Pacific's Q1 2022 net sales increased by 44% compared to last year, reaching $120.9 million, the highest since 2008. The company reported a net loss attributable to common stockholders of $4.2 million, or $0.43 per share, and an adjusted EBITDA of $1.9 million, a significant improvement from the previous year.
Net sales increased by 44% to $120.9 million compared to $83.8 million last year.
Costume business more than doubled compared to Q1 2021.
Net loss attributable to common stockholders was $4.2 million (or $0.43 per share), compared to a net loss of $24.4 million (or $4.54 per share) in Q1 2021.
Adjusted EBITDA was $1.9 million, compared to negative $2.4 million in the first quarter of 2021.
Forward Guidance
The company anticipates higher inbound freight expenses will continue to weigh down gross margins for the balance of the year but is excited by the opportunities seen ahead this year and thinking ahead to 2023.
Challenges Ahead
- Higher inbound freight expenses continued to weigh down gross margins.
- The company expects higher inbound freight expenses to continue to weigh down gross margins for the balance of the year.
- The company continues to navigate the unpredictable nature of current events.
- Continuing pandemic-driven manufacturing and supply-chain challenges
Historical Earnings Impact
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Avg. Return Before/After Earnings
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