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Jakks Pacific reveals 3rd quarter financial results

Jakks Pacific has published its financial results for the third quarter of 2023. Here is an overview:

  • Net sales amounted to 309.7 million US dollars, a decrease of 4% compared to the previous year.
  • Toys/Consumer Products were $246.0 million, a year-over-year decrease of 9%
  • Costumes were $63.7 million, a year-over-year increase of 19%
    • Costumes year-to-date are $122.3 million, a year-over-year decrease of 9%
  • Gross margin of 34.5%, up 600 basis points vs. Q3 2022
  • Gross profit of $107.0 million, up 16% compared to $91.9 million in Q3 2022
    • Year-to-date gross profit of $189.6 million, up 4% compared to $182.7 million in 2022
  • Operating income of $62.4 million (20.1% of net sales) in Q3 2023 vs. $53.7 million (16.7% of net sales) in Q3 2022
    • Year-to-date operating income of $74.4 million (12.7% of net sales) vs. $76.7 million (11.6% of net sales) for the comparable period in 2022
  • Net income attributable to common stockholders of $47.8 million or $4.53 per diluted share, compared to net income attributable to common stockholders of $30.3 million or $2.96 per diluted share in Q3 2022
  • Adjusted net income attributable to common stockholders (a non-GAAP measure) of $50.1 million or $4.75 per diluted share, compared to adjusted net income attributable to common stockholders of $39.0 million or $3.80 per diluted share in Q3 2022
  • Adjusted EBITDA (a non-GAAP measure) of $67.1 million vs. $59.4 million in Q3 2022
    • Trailing twelve month Adjusted EBITDA of $74.5 million (10.4% of trailing twelve months net sales) down from $93.5 million (11.0% of net sales) in the trailing twelve months ended September 2022.

“(…)It is gratifying to see the team continue to deliver exceptional, consistent results. Everyone in our company remains 100% focused on delivering great toys, costumes and other consumer products relevant to today's children. Our evergreen category assortment and product lines have never been stronger, which continue to enhance our financial position and resilience.", commented Stephen Berman, CEO of JAKKS Pacific.

For more comments and numbers, visit the link in the source description.

Source: www.finanznachrichten.de

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