JAKKS Pacific, Inc. (JAKK) reported first-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Both the top and bottom lines missed the consensus estimate for the second straight quarter.Following the announcement, shares of the company declined 10.2% during the after-hours trading session on Apr 24.Q1 Earnings and RevenuesDuring the quarter, the company reported adjusted loss per share of $1.34, wider than the Zacks Consensus Estimate of a loss of 43 cents. In the prior-ye ...

Webcast link 1Q24 Registration link STEPHEN BERMAN Chairman & Chief Executive Officer SAFE HARBOR STATEMENT 3 • Gross profit of $21.1 million, down $10.4 million compared to $31.4 million in Q1 2023 • Adjusted EBITDA (a non-GAAP measure) of $(17.2) million vs. $(1.1) million in Q1 2023 YoY % Change: 26% $62.6 $79.9 $111.1 $97.9 $82.9 $0 $50 $100 $150 2020 2021 2022 2023 2024 $100 YoY % Change 2024 First Quarter Costumes Net Sales 2024 First Quarter Gross Margin % $ Millions 10 11 12 TTM ADJ EBITDA $120 $80 ...

Investors might want to bet on Jakks Pacific (JAKK) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Sin ...

Here are three stocks with buy rank and strong value characteristics for investors to consider today, April 16th:  YPF Sociedad Anonima (YPF) : This international energy company, based on the integrated business of hydrocarbons, focalized in Latin America, with high standards of efficiency, profitability and responsibility, carries a Zacks Rank #1(Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 32.9% over the last 60 days.YPF Sociedad Anonima has a price- ...

SANTA MONICA, Calif., April 15, 2024 (GLOBE NEWSWIRE) -- JAKKS Pacific, Inc. (NASDAQ:JAKK) will announce its first quarter 2024 financial results on Wednesday, April 24, 2024 after the close of the stock market. The Company will hold a teleconference and webcast to discuss the results, and may also discuss future plans and prospects. JAKKS Pacific, Inc. invites analysts, investors and media to listen to the teleconference scheduled for 5:00 p.m. ET / 2:00 p.m. PT on April 24, 2024. A live webcast of the cal ...

JAKKS Pacific, Inc. (JAKK) recently announced a collaboration with Epic Story Media to unveil an extensive content and licensing initiative centered around the new intellectual property, Wild Manes. Developed and produced by Epic Story Media, the animated series will explore a world filled with horses, food, friendship, fashion and entertainment.Following the Summer 2024 scheduled release, forty fun-filled five minute episodes will run on YouTube Kids and other OTT platforms. The company will be rolling out ...

Sales Performance - Net sales for the Toys/Consumer Products segment decreased by $66.6 million, or 10.3%, to $580.7 million in 2023 from $647.3 million in 2022[154]. - Net sales for the Costumes segment decreased by $18.0 million, or 12.1%, to $130.9 million in 2023 from $148.9 million in 2022[155]. - Net sales for 2023 were $711,557,000, a decrease of 10.6% from $796,187,000 in 2022[212]. - Major customer Target accounted for 30.3% of net sales in 2023, increasing from 25.5% in 2022[275]. - The Toys/Consumer Products segment generated $580.7 million in sales for 2023, down from $647.3 million in 2022, a decline of 10.3%[273]. Cost of Sales - Cost of sales for the Toys/Consumer Products segment was $388.3 million, or 66.9% of related net sales in 2023, down from $465.4 million, or 71.9%, in 2022, representing a decrease of $77.1 million or 16.6%[156]. - Cost of sales for the Costumes segment was $99.9 million, or 76.3% of related net sales in 2023, compared to $119.5 million, or 80.3%, in 2022, representing a decrease of $19.6 million or 16.4%[157]. - For the year ended December 31, 2023, the cost of sales related to license agreement royalties was $117.6 million, with accrued royalties amounting to $23.6 million[204]. Expenses - Selling, general and administrative expenses increased to $164.2 million in 2023, constituting 23.1% of net sales, up from $150.0 million or 18.8% in 2022[158]. - The company incurred stock-based compensation expenses of $8.027 million in 2023, an increase from $5.082 million in 2022[219]. - Advertising expenses were approximately $13.2 million in 2023, down from $14.3 million in 2022[250]. - Shipping and handling costs increased to $8.6 million in 2023 from $7.7 million in 2022[238]. Income and Profitability - Net income attributable to JAKKS Pacific, Inc. was 5.4% in 2023, down from 11.5% in 2022[152]. - Net income attributable to JAKKS Pacific, Inc. was $38,406,000 in 2023, compared to $91,413,000 in 2022, indicating a decline of 57.9%[212]. - Net income for the year ended December 31, 2023, was $38.113 million, a decrease of 58% compared to $91.083 million in 2022[219]. - The company reported a comprehensive income of $39,968,000 for 2023, down from $86,553,000 in 2022[213]. - Earnings per share (basic) for 2023 was $3.70, a decrease from $9.33 in 2022[212]. - Net income attributable to common stockholders for 2023 was $36.9 million, a decrease of 59% from $90.0 million in 2022[261]. - Earnings per share available to common stockholders for 2023 was $3.70, down from $9.33 in 2022, reflecting a 60% decline[261]. Cash Flow and Working Capital - In 2023, net cash provided by operating activities was $66.4 million, a decrease from $86.1 million in 2022, primarily due to lower net income and higher working capital usage[173]. - The company had working capital of $106.1 million as of December 31, 2023, compared to $101.9 million as of December 31, 2022[172]. - Cash flows from operating activities for 2023 were $66.404 million, down from $86.099 million in 2022[219]. - Cash and cash equivalents decreased to $72,350,000 in 2023 from $85,297,000 in 2022, a decline of 15.1%[210]. - The balance of cash and cash equivalents held outside the United States was $21.5 million as of December 31, 2023, down from $39.4 million in 2022[228]. Assets and Liabilities - Total current assets decreased to $255,372,000 in 2023 from $275,211,000 in 2022, primarily due to a reduction in cash and inventory[210]. - Total liabilities decreased significantly to $202,838,000 in 2023 from $254,154,000 in 2022, a reduction of 20.2%[210]. - The Company’s total assets as of December 31, 2023, were $398.9 million, a slight decrease from $405.3 million in 2022[273]. - The total stockholders' equity increased to $190,121,000 in 2023 from $146,698,000 in 2022, reflecting a growth of 29.6%[210]. Taxation - The effective tax rate for 2023 was 15.2%, with a tax expense of $6.8 million, including a discrete tax benefit of $2.7 million[162]. - The income tax benefit for 2022 was $41.0 million, resulting in an effective tax rate of (81.9)%, with a discrete tax benefit of $49.8 million primarily from a valuation allowance release[163]. - The provision for income taxes for 2023 was an expense of $6.8 million, reflecting an effective tax rate of 15.2%[323]. - The effective tax rate for 2023 was 15.2%, a significant improvement from the effective tax rate of (81.9)% in 2022[327]. Debt and Financing - The company made a total of $30.2 million in prepayments towards the 2021 BSP Term Loan, including a $1.0 million loss on debt extinguishment recognized in the consolidated statements of operations[181]. - The Company entered into a $99.0 million first-lien secured term loan in June 2021, with net proceeds of $96.3 million after fees[297]. - The 2021 BSP Term Loan bears interest at LIBOR plus 6.50% - 7.00%, subject to a 1.00% LIBOR floor, and matures in June 2027[298]. - In January 2023, the Company amended its 2021 BSP Term Loan Agreement to transition the interest reference rate from LIBOR to SOFR, effective April 1, 2023[299]. - As of December 31, 2023, the total excess borrowing availability under the JPMorgan ABL Credit Agreement was $53.3 million[314]. - The weighted average interest rate on the JPMorgan ABL Credit Facility was 6.77% as of December 31, 2023, compared to 1.88% in 2022[309]. Joint Ventures and Other Agreements - The joint venture with Meisheng Culture & Creative Corp. was dissolved on May 10, 2023, with a non-controlling interest loss of $293,000 for the year ended December 31, 2023[277]. - The joint venture with Hong Kong Meisheng Cultural Company Limited was dissolved on December 1, 2023, with no income or loss reported for the years ended December 31, 2023, 2022, and 2021[278]. Market Risks - The company is exposed to market risks related to changes in foreign currency exchange rates, particularly due to operations in multiple countries[193]. - The company has not used derivative instruments or engaged in hedging activities to minimize market risk to date[193]. - The company anticipates that significant outbreaks of contagious diseases could materially impact its business operations and results[165].

Exhibit 99.1 JAKKS PACIFIC REPORTS FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS Full-year Gross Profit Dollars up 6% vs. 2022; Third Consecutive Annual Increase SANTA MONICA, California, February 29, 2024 – JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the fourth quarter ended December 31, 2023. Fourth Quarter 2023 Full-Year 2023 Management Commentary "For the third consecutive year we have met or exceeded our key financial full-year targets" said Stephen Berman, CEO of JAKK ...

1 Webcast link 4Q23 Registration link STEPHEN BERMAN Chairman & Chief Executive Officer 2 The Company would like to point out that any comments made about JAKKS Pacific's future performance, events or circumstances, including the estimates of sales and/or Adjusted EBITDA in 2024, as well as any other forward-looking statements concerning 2024 and beyond are subject to Safe Harbor protection under Federal securities laws. These statements reflect the Company's best judgment based on current market trends and ...

Financial Data and Key Metrics Changes - The Q4 result showed a loss of $1.4 per diluted share, slightly improved from a loss of $1.42 per diluted share last year. For the full year, earnings increased to $4.62 per diluted share from $4.29 in 2022 [1] - Cash, cash equivalents, and restricted cash totaled $72.6 million as of December 31, down from $85.5 million the previous year, but long-term debt was reduced by $67.2 million during the year [2] - Adjusted EBITDA for the full year was $75.7 million, slightly below last year's $76.4 million, but still a strong performance [46] Business Line Data and Key Metrics Changes - The Dolls, Role-Play, and Dress Up segment was up 6% in Q4 but down 25% for the full year [62] - The Action Play and Collectible business was down 9% in Q4 but up 27% for the year, driven by the Super Mario Bros. Movie and Sonic products [78] - The Outdoor Seasonal business grew by 4% in Q4, reducing the full year decline to 18% [79] Market Data and Key Metrics Changes - International business, including costumes, grew 1% for the full year, led by a 75% increase in Latin America, which reached $32 million, surpassing Canada’s $27 million [86] - North America saw a decline of 13% in both toy and consumer product and costume business [86] - Year-end retail inventories at top U.S. toy accounts were down high single-digit percentages compared to the prior year [58] Company Strategy and Development Direction - The company is focusing on evergreen play patterns and brands, which are expected to perform well in challenging market conditions [5] - A new line of outdoor products is set to launch in 2025, including various accessories and dolls infused with fashion elements [22] - The company is expanding its European operations and has opened new distribution centers to enhance its market presence [89] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a weaker movie slate impacting consumer excitement and retail traffic [34] - The company is optimistic about the upcoming Moana 2 film and other initiatives that could drive sales in the latter half of the year [52] - Management expressed confidence in the company's ability to adapt and maintain consistent results despite economic uncertainties [6] Other Important Information - The company achieved a full year operating margin of 8.3%, the highest level in 15 years, despite lower sales [66] - The gross margin percentage increased by 480 basis points year-over-year, with gross margin dollars reaching the highest level since 2015 [77] - The company is focusing on improving technology and cybersecurity to sustain performance levels [83] Q&A Session Summary Question: Impact of movie slate on consumer behavior - Management noted that the absence of hot properties reduces consumer excitement, leading to lower impulse purchases [33] Question: International growth opportunities - Management confirmed that international initiatives, particularly in Latin America, are expected to yield positive results [90] Question: Discounting strategies for 2024 - Management indicated that while inventory levels have normalized, they remain cautious about discounting strategies in the upcoming year [92]