Funko Beats Q3 Earnings Estimates, Raises 2024 Adjusted EBITDA View

Zacks11-11

Funko, Inc. FNKO came up with third-quarter 2024 results, wherein the top and the bottom line surpassed the Zacks Consensus Estimate. While revenues declined year over year, earnings improved with the...

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While revenues declined year over year, earnings improved with the...</p>\n\n<a href=\"https://finance.yahoo.com/news/funko-beats-q3-earnings-estimates-143800402.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Funko Beats Q3 Earnings Estimates, Raises 2024 Adjusted EBITDA View</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFunko Beats Q3 Earnings Estimates, Raises 2024 Adjusted EBITDA View\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 22:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/funko-beats-q3-earnings-estimates-143800402.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Funko, Inc. FNKO came up with third-quarter 2024 results, wherein the top and the bottom line surpassed the Zacks Consensus Estimate. While revenues declined year over year, earnings improved with the...</p>\n\n<a href=\"https://finance.yahoo.com/news/funko-beats-q3-earnings-estimates-143800402.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FNKO","symbol_name":"Funko Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/funko-beats-q3-earnings-estimates-143800402.html","article_id":"2482737658","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/xm5oxJwr84NxheupqAUrfw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/98b1c386f3a80224182e6ae00c592201"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482737658","pubTimestamp":1731335880,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Funko, Inc. FNKO came up with third-quarter 2024 results, wherein the top and the bottom line surpassed the Zacks Consensus Estimate. While revenues declined year over year, earnings improved with the prior year.FNKO achieved a notable increase in gross margin this quarter, contributing to stronger-than-anticipated profitability. As a result, management raised its full-year adjusted EBITDA guidance.Funkois is actively working on its strategic plan for 2025 by enabling direct-to-consumer  shipping to Canada. Additionally, Funko has expanded its collaboration with the National Football League, now offering its fan base the option to customize Pop!Yourself figures with any NFL team logo.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Rank #1  company’s shares have gained 18.7% in the past three months as compared to the industry’s decline of 3.4%.The company ended the quarter with cash and cash equivalents of $28.5 million, long-term debt of $106 million","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FNKO":"Funko Inc."},"translate_title":"Funko第三季度盈利超出预期，上调2024年调整后EBITDA预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FNKO":0.9},"content_text":"Funko, Inc. FNKO came up with third-quarter 2024 results, wherein the top and the bottom line surpassed the Zacks Consensus Estimate. While revenues declined year over year, earnings improved with the prior year.FNKO achieved a notable increase in gross margin this quarter, contributing to stronger-than-anticipated profitability. As a result, management raised its full-year adjusted EBITDA guidance.\n\nFunko, Inc. Price, Consensus and EPS Surprise\n\nFunko, Inc. price-consensus-eps-surprise-chart | Funko, Inc. Quote\n\nFunkois is actively working on its strategic plan for 2025 by enabling direct-to-consumer (DTC) shipping to Canada. Additionally, Funko has expanded its collaboration with the National Football League, now offering its fan base the option to customize Pop! Yourself figures with any NFL team logo. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Rank #1 (Strong Buy) company’s shares have gained 18.7% in the past three months as compared to the industry’s decline of 3.4%.\nImage Source: Zacks Investment Research\nFNKO’s Quarterly Performance\nFunko, the leading pop-culture lifestyle brand, posted adjusted earnings of 14 cents per share, which surpassed the Zacks Consensus Estimate of 4 cents per share. Also, the bottom line improved from adjusted earnings of 3 cents per share reported in the year-ago quarter.Net sales of $292.8 million decreased by 6.4% from $312.9 million reported in the prior-year quarter. However, the metric came ahead of the Zacks Consensus Estimate of $289 million. The downtick caused a 7% year-over-year decline in DTC sales.Gross margin expanded 770 basis points year over year to 40.9%. Improved inventory reserves contributed to a stronger gross margin.SG&A expenses of $92.7 million decreased 1.4% from $94 million reported in the prior-year quarter, which included one-time charges totaling $0.4 million and $9.9 million, respectively.Adjusted EBITDA totaled $30.9 million, up from adjusted EBITDA of $25.4 million reported in the year-ago period. Adjusted EBITDA margin expanded 250 basis points year over year to 10.6%.\nInsights Into FNKO’s Segment Details\nBrand wise, Core Collectible sales declined 2.3% year over year to $227.8 million. Loungefly net sales of $47.3 million plunged 17.6% on a year-over-year basis. Other net sales of $17.6 million fell 20.8% year over year.Geographically, net sales in the United States and Europe decreased 7.4% and 9.1% to $194.4 million and $74.5 million, respectively, while sales at Other International rose 13.5% year over year to $23.9 million.\nFNKO’s Financial Snapshot\nThe company ended the quarter with cash and cash equivalents of $28.5 million, long-term debt of $106 million and total stockholders’ equity of $240.4 million.\nFNKO’s Q4 Guidance\nFor the fourth quarter, management expects net sales in the range of $280-$294 million, compared with $291.2 million reported in the prior-year quarter. The company anticipates a gross margin in the band of 38-40%, up from 37.6% in the year-ago period. SG&A expenses are suggested to be between $93 million and $99 million. Management guided adjusted EBITDA in the range of $17-$22 million for the fourth quarter of 2024, down from $23.5 million reported in the same quarter last year. FNKO anticipates bottom in the band of a loss of 5 cents to earnings of 2 cents per share compared with earnings of 1 cent reported in the year-ago period.FNKO has revised its full-year 2024 outlook for net sales to reflect a more cautious consumer environment, which began to emerge in the third quarter. Net sales are now expected to be at the lower end or slightly below the previously provided range. It now foresees net sales in the band of $1.037-$1.050 billion, down from the earlier provided range of $1.047 billion to $1.103 billion.However, management has raised its full-year adjusted EBITDA guidance. The company now expects adjusted EBITDA to range between $85 million and $90 million, up from the previous forecast of $65 million to $85 million.\nThree Picks You Can't Miss\nWe have highlighted three other stocks in the broader sector, namely iPower Inc. IPW, Madison Square Gard Entertainment Corp. MSGE and Monarch Casino & Resort, Inc. MCRI.\niPower, an online retailer and supplier of consumer home, pet, garden, outdoor and consumer electronics products, sports a Zacks Rank #1 at present. IPW has a trailing four-quarter earnings surprise of 99.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.\nThe Zacks Consensus Estimate for iPower’s current financial-year sales indicates growth of 7.2% from the year-ago corresponding figure.\nMadison Square Garden Entertainment provides entertainment experiences and carries a Zacks Rank#1. MSGE has a trailing four-quarter earnings surprise of 113.1%, on average.\nThe Zacks Consensus Estimate for Madison Square's current financial-year sales suggests growth of 2% from the prior-year actuals.Monarch is dedicated to delivering the ultimate guest experience by providing exceptional services, and the latest gaming, dining, and hospitality amenities. The company currently carries a Zacks Rank of 2 (Buy).The consensus estimate for Monarch’s current financial-year earnings and sales indicates growth of 12.4% and 3%, respectively, from the fiscal 2023 reported figures. MCRI delivered positive earnings surprises in the last two reported quarters.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nMonarch Casino & Resort, Inc. (MCRI) : Free Stock Analysis Report\niPower Inc. (IPW) : Free Stock Analysis Report\nFunko, Inc. (FNKO) : Free Stock Analysis Report\nMadison Square Garden Entertainment Corp. (MSGE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482737658"}