Pop culture collectibles manufacturer Funko (NASDAQ:FNKO) will be reporting results this Thursday after the bell. Here’s what investors should know.
Funko beat analysts’ revenue expectations last quarter, reporting revenues of $273.1 million, down 7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Funko a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Funko’s revenue to decline 1% year on year, improving from the 11.6% decrease it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Funko’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Mattel delivered year-on-year revenue growth of 4.3%, beating analysts’ expectations by 6.6%, and Rush Street Interactive reported revenues up 41.1%, topping estimates by 11.3%. Mattel traded up 1.3% following the results while Rush Street Interactive was also up 16.6%.
Read our full analysis of Mattel’s results here and Rush Street Interactive’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6% on average over the last month. Funko is up 26.4% during the same time and is heading into earnings with an average analyst price target of $4.50 (compared to the current share price of $4.37).
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