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Funko Earnings: FNKO Stock Surges as Q4 EPS, Sales Crush Expectations

Funko (NASDAQ:FNKO) announced its quarterly earnings figures late Thursday, raking in earnings and revenue that crushed Wall Street’s expectations, suggesting that vinyl figurine maker was firing on all cylinders during its holiday period.

The Everett, Wash.-based manufacturer of pop culture collectibles unveiled a fourth quarter report that includes net income that gained 7.1% year-over-year to $6 million, or 23 cents per share. On an adjusted pro forma basis, the company’s profit tallied up to 44 cents per share, topping the 34 cents per share that Wall Street called for, according to FactSet.

Funko added that the three-month holiday period yielded revenue of $233.2 million, about 37.6% higher than its year-ago sales of $169.5 million. The figure handily topped the average analyst outlook of $198 million, per FactSet.

“In order to better serve our retail customers and our fans, we consciously made in-quarter decisions to better meet the strong demand we saw for our products,” said Funko CEO Brian Mariotti in a statement. “Some of these decisions reduced our gross margin, but allowed us to enlarge our market and satisfy better-than-expected demand for our products.”

For its fiscal 2019, the organization projects sales somewhere between $810 million and $825 million, while the FactSet forecast sees this figure at $739.4 million. Funko sees its adjusted pro forma earnings in the range of $1.05 to $1.15 per share, ahead of the 97 cents per share that FactSet predicts.

FNKO stock is soaring about 12.4% after hours on Thursday off the heels of a dominant quarter for the business.

Article printed from InvestorPlace Media, https://investorplace.com/2019/02/funko-earnings-fnko-stock/.

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