Spin Master reports preliminary sales for Q4 2023 and 2023 revenue

Spin Master Corp. announced preliminary unaudited revenues and gross toy sales for the fourth quarter and full year ended December 31, 2023. 

Revenue totaled $502.6 million, an increase of 7.9 percent from $465.8 million, driven by increases in Entertainment, Toys and Digital Games revenue of 76.9 percent, 2.5 percent and 7.1 percent, respectively. Currency-adjusted sales amounted to 493.9 million US dollars, an increase of 6.0 percent from 465.8 million US dollars.

Toy sales

• Toy sales increased $10.1 million, or 2.5 percent, to $406.8 million due to an increase in gross toy sales partially offset by an increase in sales allowances.
• Gross toy sales increased $23.1 million, or 4.8%, to $502.3 million from $479.2 million. Currency-neutral toy gross sales increased $11.4 million, or 2.4%, to $490.6 million from $479.2 million. The increase was driven by Wheels & Action and Preschool as well as Dolls & Interactive, partially offset by a decline in Outdoor.

Outlook

• Gross product revenue for toys decreased by 9.7% for the year ending December 31, 2023 compared to 2022
• Revenue, excluding PAW Patrol: The Mighty Movie Distribution Revenue of $15.6 million, decreased 6.5% for the year ending December 31, 2023 compared to 2022.
• The Company continues to expect 2023 Adjusted EBITDA margin excluding PAW Patrol: The Mighty Movie Distribution Revenue to increase to $15.6 million compared to 2022 Adjusted EBITDA margin.

Use the link in the source description to see the full report.

Source: www.spinmaster.com