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Jun 30, 2023
JAKKS Q2 2023 Earnings Report
JAKKS Pacific's Q2 2023 financial performance decreased compared to the previous year, with net sales declining by 24.3%, but gross margin increased by 310 basis points.
Key Takeaways
JAKKS Pacific reported a decrease in net sales for Q2 2023, down 24.3% year-over-year, with significant declines in both Toys/Consumer Products and Costumes segments. Despite the sales decrease, the gross margin improved. The company retired $30.2 million in debt and is managing inventory conservatively.
Net sales decreased by 24.3% year-over-year to $166.9 million.
Toys/Consumer Products net sales decreased by 20.8% year-over-year to $117.9 million.
Costumes net sales decreased by 31.5% year-over-year to $49.0 million.
Operating income was $16.4 million, compared to $23.7 million in Q2 2022.
Revenue by Segment
Forward Guidance
The company anticipates a strong year in costumes but is taking a thoughtful approach to inventory given uncertainty around consumer behavior.
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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