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Jun 30, 2022
JAKKS Q2 2022 Earnings Report
Achieved highest Q2 net sales and operating income in company history.
Key Takeaways
JAKKS Pacific reported a significant increase in net sales and operating income for Q2 2022. Net sales increased by 96.2% year-over-year, driven by growth in both Toys/Consumer Products and Costumes segments. The company achieved its first profitable second quarter in 10 years.
Net sales were $220.4 million, a 96.2% year-over-year increase.
Operating income was $23.7 million, compared to $1.8 million in Q2 2021.
Net income attributable to common stockholders was $26.2 million, or $2.61 per diluted share, compared to a net loss of $15.4 million, or $2.48 per share in Q2 2021.
Costume business shipped over $71 million, the highest Q2 shipment level since Disguise joined JAKKS in 2008.
Revenue by Segment
Forward Guidance
Company is set up for a great back-part of the year, expecting to continue to delight consumers across toy, consumer product and Halloween ranges, both on-shelf and on-line, and in the US and internationally.
Positive Outlook
- Solid consumer demand across major toy businesses.
- Strong performance of Disney's Encanto™ and Sega's Sonic the Hedgehog®.
- Costume business shipped over $71 million.
- Accelerated importation of product to support the second half of the year.
- Optional $10 million pay-down against long-term debt.
Challenges Ahead
- Continuation of supply-chain cost pressures.
- Rising interest rates impact on cash interest expense.
- No specific negative aspects were mentioned besides cost pressures and interest rates.
- No specific negative aspects were mentioned besides cost pressures and interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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