JAKKS PACIFIC Reports Q2 FY2023 Earnings Results
August 10, 2023
🌥️Earnings Overview
JAKKS PACIFIC ($NASDAQ:JAKK) released their second quarter FY2023 earning results on June 30, 2023. Total revenue for the period ending July 28 was USD 166.9 million, a year-over-year decrease of 24.3%. Net income was reported at USD 6.5 million, a decrease of 75.7% from the same period in the previous year.
Stock Price
JAKKS PACIFIC, a leader in the toy and entertainment industry, reported its Q2 FY2023 earnings results on Friday. The company reported that its stock opened at $19.6 and closed at $18.6, up by 4.1% from its prior closing price of 17.9. JAKKS PACIFIC’S operating income for the quarter was up by 4%, further demonstrating the success of their cost reduction initiatives. The company is confident that their positive performance in this quarter will be sustained in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Jakks Pacific. More…
| Total Revenues | Net Income | Net Margin |
| 729.3 | 68.34 | 10.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Jakks Pacific. More…
| Operations | Investing | Financing |
| 84.72 | -10.39 | -31.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Jakks Pacific. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 368.94 | 212.7 | 15.76 |
Key Ratios Snapshot
Some of the financial key ratios for Jakks Pacific are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.1% | 64.2% | 5.2% |
| FCF Margin | ROE | ROA |
| 10.0% | 15.7% | 6.4% |
Analysis
GoodWhale has conducted an analysis of JAKKS PACIFIC‘s financials. Based on our Star Chart analysis, we classify JAKKS PACIFIC as a ‘gorilla’ company, meaning it is strong in asset and growth, medium in profitability and weak in dividend. We believe it has achieved stable and high revenue or earning growth due to its strong competitive advantage. We believe that investors interested in such a company would be looking for stability and long-term growth. JAKKS PACIFIC has a high health score of 7/10 considering its cashflows and debt, and is capable to sustain its future operations in times of crisis. More…
Peers
The company’s products are sold under various brand names including Disney, Pokemon, Star Wars, and Cabbage Patch Kids. Jakks Pacific Inc’s competitors include PLBY Group Inc, Sanyei Corp, and YETI Holdings Inc.
– PLBY Group Inc ($NASDAQ:PLBY)
LBY Group Inc is a publicly traded company with a market capitalization of 156.51 million as of 2022. The company has a Return on Equity of -8.2%. LBY Group Inc is engaged in the business of providing engineering, construction and project management services. The company was founded in 2006 and is headquartered in Houston, Texas.
– Sanyei Corp ($TSE:8119)
Sanyei Corp is a Japanese conglomerate with a market cap of 3.3B as of 2022. The company has a Return on Equity of -4.21%. Sanyei is involved in a wide range of businesses, including electronics, automotive, chemicals, and food. The company has been struggling in recent years, and its ROE reflects this. Sanyei is currently undergoing a restructuring process in an attempt to turn its business around.
– YETI Holdings Inc ($NYSE:YETI)
YETI Holdings Inc is a publicly traded company with a market cap of 2.75B as of 2022. The company has a Return on Equity of 33.98%. YETI operates in the consumer goods industry and manufactures and sells coolers and related products.
Summary
JAKKS Pacific released their Q2 earnings results for FY2023, with total revenue of USD 166.9 million, down 24.3% year over year. Net income dropped significantly, falling by 75.7% to USD 6.5 million. Despite this, the stock price rose on the day of the announcement, suggesting investors are still optimistic about the company’s prospects.
Analysts may be encouraged by JAKKS Pacific’s cost-cutting measures and strategic investments, as well as potential new revenue streams. Going forward, investors should monitor industry trends and continue to evaluate JAKKS Pacific’s financial performance to determine the best way to invest in the company.
