Jakks Pacific Reports Q2 Earnings Miss

Jakks Pacific JAKK reported second-quarter losses of 83 cents per share, which missed the analyst consensus estimate by 27 cents.

The company reported quarterly sales of $95.182 million, which missed the analyst consensus estimate of $95.6 million. This is a 10.02% decrease over sales of $105.781 million the same period last year.

"As expected, our results for the second-quarter showed the effect of declines in products that contributed strongly to results in the second quarter of last year," said Stephen Berman, CEO of Jakks Pacific. "We saw strong growth in our Disguise, Halloween costume business, and strong contributions from toys tied to several new theatrical releases, including Aladdin, Godzilla and Toy Story 4, but these were more than offset by the declines in toys tied to Incredibles 2 and our Squish Dee Lish products.

As we have noted before, our sales this year have been shifted to the second half as a result of the timing of several films and television shows, notably Frozen 2, as well as Toy Story 4, the 30th Anniversary of the release of Disney's The Little Mermaid, and Disney Jr.'s Gigantosaurus animated TV series.”

Jakks Pacific shares were trading at 80 cents in Friday’s pre-market session. The stock has a 52-week high of $2.90 and a 52-week low of 51 cents.

Related Links:

New York Times Reports Mixed Q2 Earnings

Party City Falls After Q2 Earnings Miss, Guidance Cut