Executive Vice President & Chief Financial Officer
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SAFE HARBOR STATEMENT
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 2023, as well as any other forward-looking statements concerning 2023 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 conditions today, and are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected in forward-looking statements. For details concerning these and other such risks and uncertainties, you should consult JAKKS' most recent 10-K and 10-Q filings with the SEC, as well as the Company's other reports, subsequently filed with the SEC from time to time. As a reminder, this conference is being recorded.
Note: The following presentation includes unaudited information
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Year-to-date Gross Margins above 32%, highest level since 2011
Q3 Results versus prior year
Net Sales were $309.7 million, a 4% decrease
Dolls, Role-Play/Dress Up down 27%
Action Play and Collectables up 43%
Outdoor/Seasonal Toys down 2%
Costumes up 19%
Gross margin of 34.5%, up 600bps
Operating income of $62.4 million (20.1% of net sales), up from $53.7 million (16.7% of net sales)
Adjusted EBITDA was $67.1 million versus $59.4 million in the third quarter of 2022
Trailing-twelvemonth (TTM) Adjusted EBITDA of $74.5 million down 20% from $93.5 million in the trailing twelve months ended September 2022
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2023 Third Quarter Net Sales
$ Millions
YoY % Change:
(14%)
(2%)
36%
(4%)
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2023 Third Quarter Toys/Consumer Products Net Sales
$ Millions
YoY % Change:
(8%)
(8%)
56%
(9%)
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2023 Third Quarter Toys/Consumer Products Net Sales
$ Millions
(4%)
(8%)
50%
YoY % Change
(10%)
(25%)
(7%)
85%
YoY % Change
(4%)
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2023 Third Quarter Costumes Net Sales
$ Millions
YoY % Change:
(28%)
16%
(17%)
19%
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2023 Third Quarter Gross Margin %
YoY % Change:
190 bps
80 bps
(310) bps
600 bps
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2023 Third Quarter Adj. EBITDA and Adj. Net Income
$ Millions
15.8%
17.6%
17.6%
18.4%
Adj. EBITDA Margin %
21.7%
11.2%
13.5%
14.4%
12.1%
Adj. Net Income Margin %
16.2%
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JAKKS Pacific Inc. published this content on 01 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2023 21:05:09 UTC.
JAKKS Pacific, Inc. is a designer, manufacturer and marketer of toys and consumer products sold throughout the world. The Companyâs segments include Toys/Consumer Products and Costumes. The Toys/Consumer Products segment includes action figures, vehicles, play sets, plush products, dolls, electronic products, construction toys, infant and pre-school toys, child-sized and hand-held role play toys and everyday costume play, foot-to-floor ride-on vehicles, wagons, novelty toys, seasonal and outdoor products, kidsâ indoor and outdoor furniture, and related products. The Costumes segment, under its Disguise branding, designs, develops, markets, and sells a range of every-day and special occasion dress-up costumes and related accessories in support of Halloween, Carnival, Childrenâs Day, Book Day/Week, and every-day/any-day costume play. Its brands include: AirTitans, Ami Amis, Disguise, Fly Wheels, JAKKS Wild Games, Moose Mountain, Perfectly Cute, ReDo Skateboard Co., Sky Ball, and others.
JAKKS PACIFIC, INC. 
