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Stock impact report

JAKKS Pacific (JAKK) Q4 Earnings Lag Estimates, Stock Down [Yahoo! Finance]

JAKKS Pacific, Inc. (JAKK) 
Last jakks pacific, inc. earnings: 2/19 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: jakks.com/investors
Company Research Source: Yahoo! Finance
JAKK reported fourth-quarter 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Both the top and bottom lines missed the consensus estimate after beating in the preceding three quarters. Following the announcement, shares of the company decreased 16% during the after-hours trading session on Feb 29. In the fourth quarter, two out of the company's top three U.S. Toys/Consumer Products managed to achieve positive year-over-year retail sales figures, despite facing challenging comparisons from the previous year. Additionally, the aggregate end-of-year inventory at retail for these three accounts has decreased by a high single-digit percentage compared with the previous year. While customers are cautiously transitioning into the new year, JAKK remains confident that its core businesses are stable. Q4 Earnings and Revenues During the quarter, the company reported adjusted loss per share of $1.21, wider than the Zacks Consensus Estimate of loss of 74 cents. Show less Read more
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