JAKKS Pacific (JAKK) Tops Q2 EPS by 4c; Reiterates Outlook

JAKKS Pacific (NASDAQ: JAKK) reported Q2 EPS of ($0.27), $0.04 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $141 million versus the consensus estimate of $134.8 million.

“We had a solid second quarter performance in line with expectations, and we delivered better than consensus revenue and earnings with continuing margin improvement and operating efficiencies reflected in the increased Adjusted EBITDA year over year. This marks the third consecutive second quarter showing year-over-year growth in revenue and earnings,” said Stephen Berman, JAKKS Pacific Chairman and Chief Executive Officer.

“We believe we have created a strong foundation as we head into the important second half of the year. I am confident we can continue the momentum of growth and profitability with our compelling portfolio of brands, and innovative product introductions in the back half of the year,” said Berman.

For 2016, JAKKS Pacific continues to forecast net sales to increase 7 percent to approximately $800.0 million; diluted earnings per share to increase 10 percent to approximately $0.78 per share, subject to share count changes; and Adjusted EBITDA to increase 28 percent to approximately $65.0 million. This guidance reflects anticipated gross margin expansion and operating margin growth in 2016.

For earnings history and earnings-related data on JAKKS Pacific (JAKK) click here.

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