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JAKKS Pacific(JAKK) - 2023 Q4 - Annual Results
2024-03-01 14:31
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 ...
JAKKS Pacific(JAKK) - 2023 Q4 - Earnings Call Presentation
2024-03-01 02:38
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 ...
JAKKS Pacific(JAKK) - 2023 Q4 - Earnings Call Transcript
2024-03-01 02:38
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]
JAKKS Pacific(JAKK) - 2023 Q3 - Quarterly Report
2023-11-14 20:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 0-28104 JAKKS Pacific, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 95-4527222 (State or Other Jurisdic ...
JAKKS Pacific(JAKK) - 2023 Q3 - Earnings Call Transcript
2023-11-02 03:12
JAKKS Pacific, Inc. (NASDAQ:JAKK) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Stephen Berman - Chairman & Chief Executive Officer John Kimble - Chief Financial Officer Conference Call Participants Andrew Uerkwitz - Jefferies Operator Good afternoon, everyone. Welcome to the JAKKS Pacific Third Quarter 2023 Earnings Conference Call with management, who will review financial results for the quarter ended September 30, 2023. JAKKS issued its earnings press release earlier ...
JAKKS Pacific(JAKK) - 2023 Q2 - Quarterly Report
2023-08-14 17:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 0-28104 JAKKS Pacific, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 95-4527222 (State or Other Jurisdiction ...
JAKKS Pacific(JAKK) - 2023 Q2 - Earnings Call Transcript
2023-07-28 00:35
JAKKS Pacific, Inc. (NASDAQ:JAKK) Q2 2023 Results Conference Call July 27, 2023 5:00 PM ET Company Participants Stephen Berman - Chairman, CEO John Kimble - CFO Conference Call Participants Andrew Uerkwitz - Jefferies Operator Good afternoon, everyone. Welcome to the JAKKS Pacific Second Quarter 2023 Earnings Conference Call with management, who will review financial results for the quarter ended June 30, 2023. JAKKS issued its earnings press release earlier today. The earnings release and presentation sli ...
JAKKS Pacific(JAKK) - 2023 Q1 - Quarterly Report
2023-05-10 17:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 0-28104 JAKKS Pacific, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 95-4527222 (State or Other Jurisdiction ...
JAKKS Pacific(JAKK) - 2023 Q1 - Earnings Call Transcript
2023-04-28 03:01
JAKKS Pacific, Inc. (NASDAQ:JAKK) Q1 2023 Earnings Conference Call April 28, 2023 5:00 PM ET Company Participants Stephen Berman - Chairman, Chief Executive Officer John Kimble - Chief Financial Officer Conference Call Participants Gerrick Johnson - BMO Capital Markets Andrew Uerkwitz - Jefferies Operator Good afternoon everyone. Welcome to the JAKKS Pacific First Quarter 2023 Earnings Conference Call with management, who will review financial results for the quarter ended March 31, 2023. JAKKS issued its e ...
JAKKS Pacific(JAKK) - 2022 Q4 - Annual Report
2023-04-14 20:58
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-28104 JAKKS PACIFIC, INC. None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ...