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JAKKS Pacific, Inc. (JAKK - Free Report) reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate after missing in the preceding three quarters.
The company reported impressive third-quarter results, marking JAKK’s strongest shipping quarter in a decade for its U.S. business. This was largely attributed to its longstanding focus on the FOB selling model. Management emphasized that the yearly plan remains on track to meet its goals.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
JAKK’s Q3 Earnings and Revenues
In the quarter, the company reported adjusted earnings per share of $4.79, beating the Zacks Consensus Estimate of $3.55. In the prior-year quarter, JAKK reported adjusted earnings of $4.75 per share.
JAKKS Pacific, Inc. Price, Consensus and EPS Surprise
Quarterly revenues of $321.6 million beat the consensus mark of $303 million. The top line also increased 4% on a year-over-year basis.
Net sales in the Toys/Consumer Products segment increased 7.4% year over year to $264.3 million. Our estimate was $237.1 million.
Costumes net sales declined 10.1% year over year to $57.3 million. Our projection was $53 million.
Operating Highlights of JAKK
In the reported quarter, the gross margin reached 33.8%, down 70 basis points from the prior-year level. We predicted the metric to be 34.2%.
Adjusted EBITDA amounted to $74.4 million compared with $67.1 million a year ago.
Balance Sheet of JAKK
As of Sept. 30, 2024, the company’s cash and cash equivalents (including restricted cash) were $22.1 million compared with $96.3 million as of Sept. 30, 2023.
JAKK’s Zacks Rank
JAKKS Pacific currently carries a Zacks Rank #4 (Sell).
Carnival Corporation & plc (CCL - Free Report) reported impressive third-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. This upside was backed by sustained demand strength and increased booking volumes. In the quarter, the company reported strong booking momentum for 2025, with volumes remaining robust at higher prices compared with the prior year.
The company raised its 2024 adjusted EBITDA guidance due to strong demand and cost-saving opportunities. Management expects net yields, at constant currency, to increase around 10.4% compared with 2023 levels, exceeding the prior guidance provided in June.
Vail Resorts, Inc. (MTN - Free Report) reported mixed fourth-quarter fiscal 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. Revenues declined on a year-over-year basis and the adjusted loss widened from the prior-year quarter’s levels.
In the quarter, its reported EBITDA declined year over year due to the underperformance of the winter business in Australia. Snowfall at Australia’s resorts fell 28% from the prior year’s levels and was 44% below the 10-year average, leading to an 18% drop in skier visitation. Although North America’s summer mountain business did not meet expectations, it achieved 15% revenue growth with fewer weather and construction-related disruptions.
Hilton Worldwide Holdings Inc. (HLT - Free Report) reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the metrics increased on a year-over-year basis.
The company's performance was backed by notable improvements in revenue per available room, attributed to higher occupancy rates and average daily rates. Furthermore, in the quarter, Hilton opened 531 new hotels. It achieved net room growth of 33,600. As of Sept. 30, 2024, Hilton's development pipeline comprised nearly 3,525 hotels, with almost 492,400 rooms across 120 countries and territories, including 28 countries and regions with no running hotels. For 2024, the company expects net unit growth in the range of 7-7.5%.
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JAKKS Pacific's Q3 Earnings & Revenues Surpass Estimates
JAKKS Pacific, Inc. (JAKK - Free Report) reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate after missing in the preceding three quarters.
The company reported impressive third-quarter results, marking JAKK’s strongest shipping quarter in a decade for its U.S. business. This was largely attributed to its longstanding focus on the FOB selling model. Management emphasized that the yearly plan remains on track to meet its goals.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
JAKK’s Q3 Earnings and Revenues
In the quarter, the company reported adjusted earnings per share of $4.79, beating the Zacks Consensus Estimate of $3.55. In the prior-year quarter, JAKK reported adjusted earnings of $4.75 per share.
JAKKS Pacific, Inc. Price, Consensus and EPS Surprise
JAKKS Pacific, Inc. price-consensus-eps-surprise-chart | JAKKS Pacific, Inc. Quote
Quarterly revenues of $321.6 million beat the consensus mark of $303 million. The top line also increased 4% on a year-over-year basis.
Net sales in the Toys/Consumer Products segment increased 7.4% year over year to $264.3 million. Our estimate was $237.1 million.
Costumes net sales declined 10.1% year over year to $57.3 million. Our projection was $53 million.
Operating Highlights of JAKK
In the reported quarter, the gross margin reached 33.8%, down 70 basis points from the prior-year level. We predicted the metric to be 34.2%.
Adjusted EBITDA amounted to $74.4 million compared with $67.1 million a year ago.
Balance Sheet of JAKK
As of Sept. 30, 2024, the company’s cash and cash equivalents (including restricted cash) were $22.1 million compared with $96.3 million as of Sept. 30, 2023.
JAKK’s Zacks Rank
JAKKS Pacific currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Carnival Corporation & plc (CCL - Free Report) reported impressive third-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. This upside was backed by sustained demand strength and increased booking volumes. In the quarter, the company reported strong booking momentum for 2025, with volumes remaining robust at higher prices compared with the prior year.
The company raised its 2024 adjusted EBITDA guidance due to strong demand and cost-saving opportunities. Management expects net yields, at constant currency, to increase around 10.4% compared with 2023 levels, exceeding the prior guidance provided in June.
Vail Resorts, Inc. (MTN - Free Report) reported mixed fourth-quarter fiscal 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. Revenues declined on a year-over-year basis and the adjusted loss widened from the prior-year quarter’s levels.
In the quarter, its reported EBITDA declined year over year due to the underperformance of the winter business in Australia. Snowfall at Australia’s resorts fell 28% from the prior year’s levels and was 44% below the 10-year average, leading to an 18% drop in skier visitation. Although North America’s summer mountain business did not meet expectations, it achieved 15% revenue growth with fewer weather and construction-related disruptions.
Hilton Worldwide Holdings Inc. (HLT - Free Report) reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the metrics increased on a year-over-year basis.
The company's performance was backed by notable improvements in revenue per available room, attributed to higher occupancy rates and average daily rates. Furthermore, in the quarter, Hilton opened 531 new hotels. It achieved net room growth of 33,600. As of Sept. 30, 2024, Hilton's development pipeline comprised nearly 3,525 hotels, with almost 492,400 rooms across 120 countries and territories, including 28 countries and regions with no running hotels. For 2024, the company expects net unit growth in the range of 7-7.5%.