JAKKS Pacific, Inc. (NASDAQ:JAKK) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET
Company Participants
Stephen Berman - Chairman & Chief Executive Officer
John Kimble - Chief Financial Officer
Conference Call Participants
Eric Beder - Small Cap Consumer Research
Tom Forte - The Maxim Group
Eric Wold - B. Riley Securities
Operator
Good day, and thank you for standing by. Welcome to the Q3 2024 JAKKS Pacific's Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Stephen Berman, Chairman and CEO.
Stephen Berman
Good afternoon, and thank you for joining us today. It's an exciting time for the year here, as Q3 is always the highest sales quarter and by extension, generates a lot of activity. The end of the year is in sight with less than 60 shipping days remaining, and our goals for the full year are starting to feel like they're more within reach. Our teams around the world were collaborating across offices extensively last quarter to ensure we are fulfilling orders and not taking no for any answer when obstacles appeared whether driven by East Coast port issues or otherwise. We always try to deliver as much of our second half volume in Q3 to mitigate full year risk and to ensure customers and shelves are set for the holidays.
In Q4, we pivoted a lot of our attention to execution of preplanned retail programs and consumer marketing to generate strong sell-through. We are executing against the game plan this year with some great programs in place across a wide range of accounts in all of our major markets.
As highlighted in our press release, all three of our toy Consumer Products divisions delivered year-over-year sales increases in third quarter. That includes our outdoor seasonal business, which adamantly has been challenged in recent years, improved listings in some of our core businesses and the timing of the shipments are leading to the improvements.
It's still early days, but it's great to see some of the positive trends emerging there. Although, we are selective about what we discussed during any given quarter, as a reminder, portfolio management is essential part of our operation. We are actively managing over 30 different businesses within the toy and consumer products alone in this year, whether it's a property-driven businesses like various IPs from the Walt Disney Company, IP from Nintendo, Daniel Tiger Neighborhood or Black + Decker or many others, or category-driven one like Play Tents or Ride-On’s, each product line has its own dynamics.