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Sep 30, 2024
JAKKS Q3 2024 Earnings Report
JAKKS Pacific's Q3 2024 financial results were reported, showing increased net sales and operating income compared to the prior year.
Key Takeaways
JAKKS Pacific reported a 4% increase in net sales and a 9% increase in operating income for Q3 2024 compared to the prior year. The US business had its biggest shipping quarter in ten years. Gross margins remained strong at 33.8%, and operating margin improved slightly to 21.2%.
Net sales increased by 4% year-over-year to $321.6 million.
Toys/Consumer Products net sales increased 7% year-over-year to $264.3 million.
Operating income increased by 9% year-over-year to $68.1 million.
Net income attributable to common stockholders was $52.3 million, or $4.64 per diluted share, compared to $47.8 million, or $4.53 per diluted share in Q3 2023.
Revenue by Segment
Forward Guidance
The company is confident about finishing the year as planned and building on retail momentum to deliver a robust 2025.
Positive Outlook
- The US business had its biggest shipping quarter in ten years.
- Total company sales increased 4% year-over-year in the quarter.
- Gross margins remained strong at 33.8%.
- Overhead-related cost growth slowed to deliver quarterly operating margin of 21.2%.
- Each of the Toys/Consumer Products divisions delivered sales growth in the quarter.
Challenges Ahead
- Costumes business reflected softness due to customers recalibrating to lower Halloween consumer demand for costumes versus prior year.
- Globally, Costumes were down 10.1% in the quarter and 11.3% year-to-date.
- Trailing twelve month Adjusted EBITDA of $58.5 million down from $74.5 million in the trailing twelve months ended September 2023.
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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