Le Lézard
Classified in: Business
Subjects: EARNINGS, Conference Call, Webcast

JAKKS Pacific Reports Third Quarter 2023 Financial Results


JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the third quarter ended September 30, 2023.

Third Quarter 2023 Overview

Management Commentary

"Although we have seen activity at retail slowing, our business continued to perform well throughout the third quarter. Retail sell-through at our Top 3 accounts in the US were down low single digits on a year-to-date basis, while our inventory at those accounts is down over 20% year-over-year" said Stephen Berman, CEO of JAKKS Pacific. "A more predictable supply-chain and lower promotional activity than last year has resulted in significantly improved product margins, building on the continued rigor and collaboration between our development and sourcing teams. Of note, our Action Play & Collectibles business was up 43% in the quarter, and with $184.1 million shipped through Q3, is up 37% compared to last year. We are looking forward to the holiday season and have recently finished great customer meetings previewing our Fall 2024 product line. We are exceeding our own internal expectations for the full-year and are carefully navigating towards the end of the year given the persistent uncertainty about consumer behavior.

"Also in the quarter, we saw our Costumes business seasonality returning to more traditional levels and catching up on a year-to-date basis. Although down 9% in year-to-date shipping vs. 2022, globally, we remain +24% vs. the same period in 2021, along with significantly improved margins. Our view of 2023 Halloween shopping in the US was that it was a bit softer overall. We see that in our data and in referencing syndicated market data. The latter suggests we have retained and expanded our market leadership position, but final syndicated data won't be available until later this month.

"Finally, during the third quarter, we officially opened our new office and internally operated warehouse in Italy to better serve that market and Southern Europe broadly starting in 2024. We are very focused on maximizing our presence across the EU given the current strength of our product line. We nonetheless continue to proactively manage our owned inventory, increasing our internal discipline around turns and maximizing our cash position. Our Q3 ending inventory level of $68.8 million is the lowest Q3 level since 2020, down 37% from this time last year. We are always striving to improve our internal operations to remain competitive and the partner of choice for our customers, licensors and vendors.

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."

Third Quarter 2023 Results

Net sales for the third quarter of 2023 were $309.7 million, down 4% versus $323.0 million last year. The Toys/Consumer Products segment sales were down 9% globally (-10% North America; -4% International) and sales of Disguise costumes were up 19% compared to last year (23% North America; -13% International) as Halloween customers ordering reverted to more traditional seasonality.

Year-to-date Toys/Consumer Products sales were down 13% over the comparable 2022 period. Year-to-date the Costumes segment was down 9% over the comparable 2022 period.

Year-to-date adjusted net income attributable to common stockholders was $59.4 million ($5.66 per diluted share), compared to $57.5 million ($5.68 per diluted share) in the first nine months of 2022. Year-to-date adjusted EBITDA of $86.6 million (14.8% of net sales) declined from $88.5 million (13.3% of net sales) in the comparable 2022 period.

Balance Sheet Highlights

The Company's cash and cash equivalents (including restricted cash) totaled $96.4 million as of September 30, 2023 compared to $76.6 million as of September 30, 2022, and $85.5 million as of December 31, 2022.

Total debt was zero, compared to $67.7 million as of September 30, 2022, and $67.2 million as of December 31, 2022. Total debt included the amount outstanding under the Company's term loan, net of unamortized discounts and issuance costs.

Inventory was $68.8 million, compared to $109.2 million as of September 30, 2022 and $80.6 million in total inventory as of December 31, 2022.

Use of Non-GAAP Financial Information

In addition to the preliminary results reported in accordance with U.S. GAAP included in this release, the Company has provided certain non-GAAP financial information including Adjusted EBITDA which is a non-GAAP metric that excludes various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. Management believes that the presentation of these non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company's results. In addition, the Company believes that the presentation of these financial measures enhances an investor's ability to make period-to-period comparisons of the Company's operating results. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results. The Company has reconciled the non-GAAP financial information included in this release to the nearest GAAP measures. See the attached "Reconciliation of Non-GAAP Financial Information." "Total liquidity" is calculated as cash and cash equivalents, plus availability under the Company's $67.5 million revolving credit facility.

Conference Call Live Webcast

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 November 1, 2023. A live webcast of the call will be available on the "Investor Relations" page of the Company's website at www.jakks.com/investors. To access the call by phone, please go to this link (3Q23 Registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at (www.jakks.com/investors).

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific's popular proprietary brands include Fly Wheels®, Perfectly Cute®, ReDo® Skateboard Co., AirTitans®, Sky Ball®, JAKKS Wild Gamestm, Moose Mountain®, Maui®, SportsZonetm, Kids Only!tm, Xtreme Power Dozer®, Disguise®, WeeeDo®, Ami Amistm and a wide range of entertainment-inspired products featuring premier licensed properties. Through JAKKS Cares, the company's commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkspacific.toys), X (@JAKKStoys), and Facebook (@jakkspacific.toys).

Forward Looking Statements

This press release may contain "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS Pacific's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, or that the Recapitalization transaction or any future transactions will result in future growth or success of JAKKS. The "forward-looking statements" contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
 
 
 

September 30,

 

December 31,

2023

 

2022

 

2022

(In thousands)

Assets
Current assets:
Cash and cash equivalents

$

96,252

 

$

76,418

 

$

85,297

 

Restricted cash

 

195

 

 

178

 

 

193

 

Accounts receivable, net

 

206,751

 

 

204,856

 

 

102,771

 

Inventory

 

68,832

 

 

109,171

 

 

80,619

 

Prepaid expenses and other assets

 

6,721

 

 

11,124

 

 

6,331

 

Total current assets

 

378,751

 

 

401,747

 

 

275,211

 

 
Property and equipment

 

135,821

 

 

131,918

 

 

130,437

 

Less accumulated depreciation and amortization

 

121,193

 

 

116,558

 

 

115,575

 

Property and equipment, net

 

14,628

 

 

15,360

 

 

14,862

 

 
Operating lease right-of-use assets, net

 

25,743

 

 

22,154

 

 

19,913

 

Deferred income tax assets, net

 

57,856

 

 

-

 

 

57,804

 

Goodwill

 

35,083

 

 

35,083

 

 

35,083

 

Intangibles and other assets, net

 

2,220

 

 

2,770

 

 

2,469

 

Total assets

$

514,281

 

$

477,114

 

$

405,342

 

 
 
Liabilities, Preferred Stock and Stockholders' Equity
 
Current liabilities:
Accounts payable

$

94,409

 

$

77,126

 

$

33,687

 

Accounts payable - Meisheng (related party)

 

27,977

 

 

28,301

 

 

9,820

 

Accrued expenses

 

65,609

 

 

73,723

 

 

37,998

 

Reserve for sales returns and allowances

 

43,512

 

 

59,216

 

 

51,877

 

Income taxes payable

 

17,422

 

 

14,084

 

 

8,165

 

Short term operating lease liabilities

 

6,415

 

 

10,515

 

 

10,746

 

Short term debt, net

 

-

 

 

2,475

 

 

25,529

 

Total current liabilities

 

255,344

 

 

265,440

 

 

177,822

 

 
Long term operating lease liabilities

 

19,283

 

 

12,555

 

 

9,863

 

Accrued expenses - long term

 

3,750

 

 

-

 

 

-

 

Debt, non-current portion, net

 

-

 

 

65,195

 

 

41,622

 

Preferred stock derivative liability

 

28,586

 

 

23,347

 

 

21,918

 

Income taxes payable

 

2,994

 

 

66

 

 

2,929

 

Deferred income tax liabilities, net

 

-

 

 

53

 

 

-

 

Total liabilities

 

309,957

 

 

366,656

 

 

254,154

 

 
Preferred stock accrued dividends

 

5,608

 

 

4,128

 

 

4,490

 

 
Stockholders' equity:
Common stock, $.001 par value

 

10

 

 

10

 

 

10

 

Additional paid-in capital

 

277,546

 

 

274,040

 

 

275,187

 

Accumulated deficit

 

(62,744

)

 

(149,987

)

 

(112,018

)

Accumulated other comprehensive loss

 

(16,808

)

 

(18,594

)

 

(17,482

)

Total JAKKS Pacific, Inc. stockholders' equity

 

198,004

 

 

105,469

 

 

145,697

 

Non-controlling interests

 

712

 

 

861

 

 

1,001

 

Total stockholders' equity

 

198,716

 

 

106,330

 

 

146,698

 

Total liabilities, preferred stock and stockholders' equity

$

514,281

 

$

477,114

 

$

405,342

 

 
 
Supplemental Balance Sheet and Cash Flow Data (Unaudited)

September 30,

Key Balance Sheet Data:

2023

2022

 
Accounts receivable days sales outstanding (DSO)

 

61

 

 

58

 

Inventory turnover (DSI)

 

31

 

 

44

 

 

Nine Months Ended
September 30,

 
Condensed Cash Flow Data:

2023

2022

(In thousands)
Cash flows provided by operating activities

$

89,421

 

$

75,261

 

Cash flows used in investing activities

 

(7,427

)

 

(8,087

)

Cash flows used in financing activities and other

 

(71,037

)

 

(35,910

)

Increase (Decrease) in cash, cash equivalents and restricted cash

$

10,957

 

$

31,264

 

 
Capital expenditures

$

(7,464

)

$

(8,089

)

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 

 

 

 

 

Three Months Ended September 30,

 

 

 

Nine Months Ended September 30,

 

 

 

 

 

 

 

 

 

2023

2022

? (%)

 

2023

2022

? (%)

(In thousands, except per share data) (In thousands, except per share data)
 
Net sales

$

309,744

 

$

322,998

 

(4

)%

$

584,161

 

$

664,301

 

(12

)%

Less: Cost of sales
Cost of goods

 

149,052

 

 

174,334

 

(15

)

$

293,512

 

 

368,242

 

(20

)

Royalty expense

 

51,141

 

 

52,868

 

(3

)

 

95,074

 

 

106,262

 

(11

)

Amortization of tools and molds

 

2,566

 

 

3,885

 

(34

)

 

5,955

 

 

7,079

 

(16

)

Cost of sales

 

202,759

 

 

231,087

 

(12

)

 

394,541

 

 

481,583

 

(18

)

Gross profit

 

106,985

 

 

91,911

 

16

 

 

189,620

 

 

182,718

 

4

 

Direct selling expenses

 

10,684

 

 

8,397

 

27

 

 

22,405

 

 

20,137

 

11

 

General and administrative expenses

 

33,821

 

 

29,400

 

15

 

 

92,492

 

 

84,067

 

10

 

Depreciation and amortization

 

81

 

 

373

 

(78

)

 

276

 

 

1,547

 

(82

)

Selling, general and administrative expenses

 

44,586

 

 

38,170

 

17

 

 

115,173

 

 

105,751

 

9

 

Intangibles impairment

 

-

 

 

-

 

-

 

 

-

 

 

300

 

nm
Income from operations

 

62,399

 

 

53,741

 

16

 

 

74,447

 

 

76,667

 

(3

)

Other income (expense):
Loss from joint ventures

 

-

 

 

-

 

-

 

 

(565

)

 

-

 

nm
Other income (expense), net

 

(52

)

 

251

 

nm

 

424

 

 

520

 

(18

)

Change in fair value of preferred stock derivative liability

 

(793

)

 

(7,449

)

(89

)

 

(6,668

)

 

(2,065

)

223

 

Loss on debt extinguishment

 

-

 

 

-

 

-

 

 

(1,023

)

 

-

 

nm
Interest income

 

384

 

 

55

 

nm

 

587

 

 

64

 

nm
Interest expense

 

(1,436

)

 

(4,350

)

(67

)

 

(5,741

)

 

(8,889

)

(35

)

Income before provision for income taxes

 

60,502

 

 

42,248

 

43

 

 

61,461

 

 

66,297

 

(7

)

Provision for income taxes

 

12,381

 

 

11,572

 

7

 

 

12,476

 

 

13,323

 

(6

)

Net income

 

48,121

 

 

30,676

 

57

 

 

48,985

 

 

52,974

 

(8

)

Net loss attributable to non-controlling interests

 

(11

)

 

(17

)

(35

)

 

(289

)

 

(470

)

(39

)

Net income attributable to JAKKS Pacific, Inc.

$

48,132

 

$

30,693

 

57

%

$

49,274

 

$

53,444

 

(8

)%

Net income attributable to common stockholders

$

47,754

 

$

30,336

 

57

%

$

48,156

 

$

52,390

 

(8

)%

Earnings per share - basic

$

4.77

 

$

3.13

 

$

4.85

 

$

5.44

 

Shares used in earnings per share - basic

 

10,021

 

 

9,695

 

 

9,922

 

 

9,624

 

Earnings per share - diluted

$

4.53

 

$

2.96

 

$

4.58

 

$

5.18

 

Shares used in earnings per share - diluted

 

10,542

 

 

10,260

 

 

10,503

 

 

10,111

 

 

Three Months Ended September 30,

 

 

 

Nine Months Ended September 30,

 

 

 

 

 

 

 

2023

2022

? bps

 

2023

2022

? bps

 

 

Fav/(Unfav)

 

 

 

Fav/(Unfav)

Net sales

 

100.0

%

 

100.0

%

-

 

 

100.0

%

 

100.0

%

-

 

Less: Cost of sales
Cost of goods

 

48.2

 

 

54.0

 

580

 

 

50.2

 

 

55.4

 

520

 

Royalty expense

 

16.5

 

 

16.3

 

(20

)

 

16.3

 

 

16.0

 

(30

)

Amortization of tools and molds

 

0.8

 

 

1.2

 

40

 

 

1.0

 

 

1.1

 

10

 

Cost of sales

 

65.5

 

 

71.5

 

600

 

 

67.5

 

 

72.5

 

500

 

Gross profit

 

34.5

 

 

28.5

 

600

 

 

32.5

 

 

27.5

 

500

 

Direct selling expenses

 

3.5

 

 

2.6

 

(90

)

 

3.8

 

 

3.0

 

(80

)

General and administrative expenses

 

10.9

 

 

9.1

 

(180

)

 

15.9

 

 

12.7

 

(320

)

Depreciation and amortization

 

-

 

 

0.1

 

10

 

 

0.1

 

 

0.2

 

10

 

Selling, general and administrative expenses

 

14.4

 

 

11.8

 

(260

)

 

19.8

 

 

15.9

 

(390

)

Intangibles impairment

 

-

 

 

-

 

-

 

 

-

 

 

-

 

-

 

Income from operations

 

20.1

 

 

16.7

 

340

 

 

12.7

 

 

11.6

 

110

 

Other income (expense):
Loss from joint ventures

 

-

 

 

-

 

 

(0.1

)

 

-

 

Other income (expense), net

 

-

 

 

0.1

 

 

0.1

 

 

-

 

Change in fair value of preferred stock derivative liability

 

(0.3

)

 

(2.3

)

 

(1.1

)

 

(0.3

)

Loss on debt extinguishment

 

-

 

 

-

 

 

(0.2

)

 

-

 

Interest income

 

0.1

 

 

-

 

 

0.1

 

 

-

 

Interest expense

 

(0.4

)

 

(1.4

)

 

(1.0

)

 

(1.3

)

Income before provision for income taxes

 

19.5

 

 

13.1

 

 

10.5

 

 

10.0

 

Provision for income taxes

 

4.0

 

 

3.6

 

 

2.1

 

 

2.0

 

Net income

 

15.5

 

 

9.5

 

 

8.4

 

 

8.0

 

Net loss attributable to non-controlling interests

 

-

 

 

-

 

 

-

 

 

-

 

Net income attributable to JAKKS Pacific, Inc.

 

15.5

%

 

9.5

%

 

8.4

%

 

8.0

%

Net income attributable to common stockholders

 

15.4

%

 

9.4

%

 

8.2

%

 

7.9

%

 
 
JAKKS Pacific, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Information (Unaudited)

Reconciliation of GAAP to Non-GAAP measures:

This press release and accompanying schedules provide certain information regarding Adjusted EBITDA and Adjusted Net Income (Loss), which may be considered non-GAAP financial measures under the rules of the Securities and Exchange Commission. The non-GAAP financial measures included in the press release are reconciled to the corresponding GAAP financial measures below, as required under the rules of the Securities and Exchange Commission regarding the use of non-GAAP financial measures. We define Adjusted EBITDA as income (loss) from operations before depreciation, amortization and adjusted for certain non-recurring and non-cash charges, such as reorganization expenses and restricted stock compensation expense. Net income (loss) is similarly adjusted and tax-effected to arrive at Adjusted Net Income (Loss). Adjusted EBITDA and Adjusted Net Income (Loss) are not recognized financial measures under GAAP, but we believe that they are useful in measuring our operating performance. We believe that the use of the non-GAAP financial measures enhances an overall understanding of the Company's past financial performance, and provides useful information to the investor by comparing our performance across reporting periods on a consistent basis.

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company's operating performance that is calculated in accordance with GAAP. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

Three Months Ended September 30,

 

 

 

 

Nine Months Ended September 30,

 

2023

2022

? ($)

 

 

 

2023

2022

? ($)

(In thousands) (In thousands)
EBITDA and Adjusted EBITDA
Net income

$

48,121

 

$

30,676

 

$

17,445

 

$

48,985

 

$

52,974

 

$

(3,989

)

Interest expense

 

1,436

 

 

4,350

 

 

(2,914

)

 

5,741

 

 

8,889

 

 

(3,148

)

Interest income

 

(384

)

 

(55

)

 

(329

)

 

(587

)

 

(64

)

 

(523

)

Provision for income taxes

 

12,381

 

 

11,572

 

 

809

 

 

12,476

 

 

13,323

 

 

(847

)

Depreciation and amortization

 

4,398

 

 

4,258

 

 

140

 

 

7,982

 

 

8,626

 

 

(644

)

EBITDA

 

65,952

 

 

50,801

 

 

15,151

 

 

74,597

 

 

83,748

 

 

(9,151

)

Adjustments:
Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

 

-

 

 

-

 

 

-

 

 

276

 

 

-

 

 

276

 

Loss from joint ventures (Meisheng - 49%)

 

-

 

 

-

 

 

-

 

 

289

 

 

-

 

 

289

 

Other (income) expense, net

 

52

 

 

(251

)

 

303

 

 

(424

)

 

(520

)

 

96

 

Restricted stock compensation expense

 

2,025

 

 

1,411

 

 

614

 

 

5,970

 

 

3,436

 

 

2,534

 

Change in fair value of preferred stock derivative liability

 

793

 

 

7,449

 

 

(6,656

)

 

6,668

 

 

2,065

 

 

4,603

 

Employee Retention Credit/gov't employment support

 

-

 

 

-

 

 

-

 

 

-

 

 

(249

)

 

249

 

Molds and tooling capitalization

 

(1,751

)

 

-

 

 

(1,751

)

 

(1,751

)

 

-

 

 

(1,751

)

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

1,023

 

 

-

 

 

1,023

 

Adjusted EBITDA

$

67,071

 

$

59,410

 

$

7,661

 

$

86,648

 

$

88,480

 

$

(1,832

)

Adjusted EBITDA/Net sales %

 

21.7

%

 

18.4

%

330 bps

 

14.8

%

 

13.3

%

150 bps
 
 

Trailing Twelve Months Ended
September 30,

 

2023

2022

? ($)
(In thousands)
TTM EBITDA and TTM Adjusted EBITDA
TTM Net income

$

87,094

 

$

49,821

 

$

37,273

 

Interest expense

 

8,035

 

 

11,090

 

 

(3,055

)

Interest income

 

(650

)

 

(67

)

 

(583

)

Provision for (benefit from) income taxes

 

(41,855

)

 

13,263

 

 

(55,118

)

Depreciation and amortization

 

9,934

 

 

10,012

 

 

(78

)

TTM EBITDA

 

62,558

 

 

84,119

 

 

(21,561

)

Adjustments:
Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

 

276

 

 

-

 

 

276

 

Loss from joint ventures (Meisheng - 49%)

 

289

 

 

-

 

 

289

 

Other (income) expense, net

 

(701

)

 

(710

)

 

9

 

Restricted stock compensation expense

 

7,616

 

 

4,149

 

 

3,467

 

Change in fair value of convertible senior notes

 

-

 

 

(76

)

 

76

 

Change in fair value of preferred stock derivative liability

 

5,239

 

 

6,272

 

 

(1,033

)

Employee Retention Credit/gov't employment support

 

-

 

 

(249

)

 

249

 

Molds and tooling capitalization

 

(1,751

)

 

-

 

 

(1,751

)

Loss on debt extinguishment

 

1,023

 

 

-

 

 

1,023

 

TTM Adjusted EBITDA

$

74,549

 

$

93,505

 

$

(18,956

)

TTM Adjusted EBITDA/TTM Net sales %

 

10.4

%

 

11.0

%

-59 bps
 
 

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

? ($)

2023

2022

? ($)

(In thousands, except per share data)

(In thousands, except per share data)
Adjusted net income (loss) attributable to common stockholders
Net income attributable to common stockholders

$

47,754

 

$

30,336

 

$

17,418

 

$

48,156

 

$

52,390

 

$

(4,234

)

Restricted stock compensation expense

 

2,025

 

 

1,411

 

 

614

 

 

5,970

 

 

3,436

 

 

2,534

 

Change in fair value of preferred stock derivative liability

 

793

 

 

7,449

 

 

(6,656

)

 

6,668

 

 

2,065

 

 

4,603

 

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

1,023

 

 

-

 

 

1,023

 

Employee Retention Credit/gov't employment support

 

-

 

 

-

 

 

-

 

 

-

 

 

(249

)

 

249

 

Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

 

-

 

 

-

 

 

-

 

 

276

 

 

-

 

 

276

 

2021 BSP Term Loan prepayment penalty

 

-

 

 

525

 

 

(525

)

 

150

 

 

525

 

 

(375

)

Molds and Tooling capitalization

 

(1,751

)

 

-

 

 

(1,751

)

 

(1,751

)

 

-

 

 

(1,751

)

Tax impact of additional charges

 

1,268

 

 

(697

)

 

1,965

 

 

(1,079

)

 

(697

)

 

(382

)

Adjusted net income attributable to common stockholders

$

50,089

 

$

39,024

 

$

11,065

 

$

59,413

 

$

57,470

 

$

1,943

 

Adjusted earnings per share - basic

$

5.00

 

$

4.03

 

$

0.97

 

$

5.99

 

$

5.97

 

$

0.02

 

Shares used in adjusted earnings per share - basic

 

10,021

 

 

9,695

 

 

326

 

 

9,922

 

 

9,624

 

 

298

 

Adjusted earnings per share - diluted

$

4.75

 

$

3.80

 

$

0.95

 

$

5.66

 

$

5.68

 

$

(0.02

)

Shares used in adjusted earnings per share - diluted

 

10,542

 

 

10,260

 

 

282

 

 

10,503

 

 

10,111

 

 

392

 

JAKKS Pacific, Inc. and Subsidiaries
Net Sales by Division and Geographic Region
 
 
(In thousands)

QTD Q3

 

(In thousands)

YTD Q3

Divisions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

 

Divisions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

Toys/Consumer Products

$

246,004

$

269,607

$

172,952

-8.8

%

55.9

%

Toys/Consumer Products

$

461,831

$

529,590

$

334,365

-12.8

%

58.4

%

Dolls, Role-Play/Dress Up

 

139,177

 

190,452

 

112,050

-26.9

%

70.0

%

Dolls, Role-Play/Dress Up

 

246,689

 

354,644

 

206,483

-30.4

%

71.8

%

Action Play & Collectibles

 

93,717

 

65,752

 

37,587

42.5

%

74.9

%

Action Play & Collectibles

 

184,134

 

134,620

 

73,614

36.8

%

82.9

%

Outdoor/Seasonal Toys

 

13,110

 

13,403

 

23,315

-2.2

%

-42.5

%

Outdoor/Seasonal Toys

 

31,008

 

40,326

 

54,268

-23.1

%

-25.7

%

Costumes

$

63,740

$

53,391

$

64,005

19.4

%

-16.6

%

Costumes

 

122,330

 

134,711

 

98,787

-9.2

%

36.4

%

Total

$

309,744

$

322,998

$

236,957

-4.1

%

36.3

%

Total

$

584,161

$

664,301

$

433,152

-12.1

%

53.4

%

 
 
 
(In thousands)

QTD Q3

(In thousands)

YTD Q3

Regions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

Regions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

United States

$

244,931

$

253,854

$

199,136

-3.5

%

27.5

%

United States

$

461,561

$

543,388

$

363,317

-15.1

%

49.6

%

Europe

 

31,676

 

38,075

 

20,836

-16.8

%

82.7

%

Europe

 

58,476

 

65,911

 

38,103

-11.3

%

73.0

%

Canada

 

11,453

 

12,804

 

8,094

-10.6

%

58.2

%

Canada

 

22,306

 

21,720

 

12,403

2.7

%

75.1

%

Latin America

 

15,319

 

9,504

 

4,503

61.2

%

111.1

%

Latin America

 

27,590

 

15,712

 

8,123

75.6

%

93.4

%

Asia

 

3,192

 

4,294

 

2,635

-25.7

%

63.0

%

Asia

 

6,403

 

8,733

 

6,214

-26.7

%

40.5

%

Australia & New Zealand

 

2,692

 

3,941

 

1,490

-31.7

%

164.5

%

Australia & New Zealand

 

6,056

 

7,014

 

3,927

-13.7

%

78.6

%

Middle East & Africa

 

481

 

526

 

263

-8.6

%

100.0

%

Middle East & Africa

 

1,769

 

1,823

 

1,065

-3.0

%

71.2

%

Total

$

309,744

$

322,998

$

236,957

-4.1

%

36.3

%

Total

$

584,161

$

664,301

$

433,152

-12.1

%

53.4

%

 
 
(In thousands)

QTD Q3

(In thousands)

YTD Q3

Regions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

Regions

 

2023

 

2022

 

2021

% Change
2023 v 2022


% Change
2022 v 2021

North America

$

256,384

$

266,658

$

207,230

-3.9

%

28.7

%

North America

$

483,867

$

565,108

$

375,720

-14.4

%

50.4

%

International

 

53,360

 

56,340

 

29,727

-5.3

%

89.5

%

International

 

100,294

 

99,193

 

57,432

1.1

%

72.7

%

Total

$

309,744

$

322,998

$

236,957

-4.1

%

36.3

%

Total

$

584,161

$

664,301

$

433,152

-12.1

%

53.4

%

 

 


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