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Jun 30, 2024
JAKKS Q2 2024 Earnings Report
Reported a decrease in net sales but an improvement in gross margin rate compared to the prior year.
Key Takeaways
JAKKS Pacific reported a decrease in net sales for the second quarter of 2024, primarily due to a lack of new content-related product launches. However, the company's gross margin improved, and they are optimistic about new product launches in the latter half of the year.
Net sales decreased by 11.0% year-over-year to $148.6 million.
Gross margin increased by 130 basis points compared to Q2 2023, reaching 32.0%.
Operating income decreased to $7.6 million from $16.4 million in Q2 2023.
Net income attributable to common stockholders was $5.3 million, or $0.47 per diluted share.
Revenue by Segment
Forward Guidance
The company anticipates new product launches supporting Moana 2 and Sonic the Hedgehog 3, along with the launch of products inspired by "The Simpsons" and Authentic Brands Group, to drive growth in the latter half of the year.
Positive Outlook
- Exciting new launches supporting Moana 2.
- Sonic the Hedgehog™ 3 release.
- Broad retail support secured with top customers globally.
- Initial launch of new line of products inspired by “The Simpsons”.
- Launch of Authentic Brands Group business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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