JAKKS Pacific Reports Steady Q4 and 2024 Performance

Jakks Pacific ( (JAKK) ) has released its Q4 earnings. Here is a breakdown of the information Jakks Pacific presented to its investors.

JAKKS Pacific, Inc. is a prominent designer and manufacturer of toys and consumer products, known for its diverse range of proprietary and licensed brands, operating primarily in the family entertainment sector. The company, headquartered in Santa Monica, California, focuses on creating innovative products that appeal to children and collectors globally.

In its latest financial report, JAKKS Pacific revealed steady performance for the fourth quarter and full-year 2024. The company experienced a slight increase in net sales during the fourth quarter, driven by a significant rise in costume sales, despite a minor decline in the Toys/Consumer Products segment. The Board of Directors has also initiated a quarterly cash dividend program, marking a positive step for shareholders.

Key financial metrics indicate that JAKKS Pacific achieved $130.7 million in net sales for the fourth quarter, a 3% increase from the previous year, with an improved gross margin of 27.2%. The company reported a net loss of $9.1 million for the quarter, which is an improvement compared to the previous year’s loss. For the full year, JAKKS Pacific saw a 3% decline in net sales to $691 million, with operating income dropping by 33% to $39.7 million. Despite these challenges, the company maintained a strong cash position and eliminated all preferred shareholders in the first half of 2024.

Looking ahead, JAKKS Pacific’s management remains optimistic about the company’s growth prospects. With no long-term debt and a solid portfolio of products, the company is well-positioned to leverage opportunities in international markets and expand its product lines. The initiation of the quarterly dividend reflects confidence in the company’s future financial health and commitment to returning value to shareholders.