Pop culture collectibles manufacturer Funko (NASDAQ:FNKO) will be reporting results this Thursday after market hours. Here’s what to expect.
Funko met analysts’ revenue expectations last quarter, reporting revenues of $190.7 million, down 11.6% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Funko a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Funko’s revenue to decline 25.8% year on year to $183.9 million, a reversal from the 3.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.43 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Funko has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Funko’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hasbro’s revenues decreased 1.5% year on year, beating analysts’ expectations by 11.2%, and Mattel reported a revenue decline of 5.7%, falling short of estimates by 3.2%. Hasbro traded down 3.3% following the results while Mattel was also down 16.4%.
Read our full analysis of Hasbro’s results here and Mattel’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Funko is down 15.6% during the same time and is heading into earnings with an average analyst price target of $6.25 (compared to the current share price of $3.67).
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