Funko (NASDAQ: FNKO) reported Q4 EPS of $0.18, $0.02 better than the analyst estimate of $0.16. Revenue for the quarter came in at $213.55 million versus the consensus estimate of $213.75 million.

Brian Mariotti, Chief Executive Officer, stated, “Full year top line growth of 16% was driven by the underlying strength of Pop! Vinyl, growth in key geographic markets and the introduction of new products and categories. Although we closed the year with a difficult fourth quarter, we remain confident in the underlying strength of our business model and have a number of initiatives underway to drive growth in 2020. We have an exceptional line-up of games, toys and figures coming to market in the second half, unique evergreen retail programs and new products and partnerships in underpenetrated genres, including anime, sports and music.”

“Funko’s deep roots and expertise in all things pop culture provide us with a strong foundation for growth and expansion. As the proliferation of content continues to occur across pop culture, we believe Funko will be at the forefront. We are focused on building for scale – ensuring we have the tools and talent in place to drive a high level of execution, support our growth and deliver long-term shareholder value.”

GUIDANCE:

Funko sees FY2020 EPS of $0.85-$1.00, versus the consensus of $0.94. Funko sees FY2020 revenue of $840-865 million, versus the consensus of $845.83 million.

In 2020, the Company expects the following:

• Net sales of $840.0 million to $865.0 million, representing 6% to 9% growth compared to 2019, including approximately 2 points of anticipated impact from the coronavirus;
• Adjusted EBITDA3 of $115.0 million to $125.0 million, representing Adjusted EBITDA margin of 13.7% to 14.5%;
• Adjusted Net Income3 of $43.3 million to $50.8 million, based on a blended tax rate of 25%; and
• Adjusted Earnings per Diluted Share3 of $0.85 per share to $1.00 per share, based on estimated adjusted average diluted shares outstanding of 51.0 million for the full year.

The Company’s 2020 outlook reflects its current assumptions regarding any potential effect of the novel coronavirus due to manufacturing disruptions and delayed shipments resulting from the crisis. Compared to 2019, the Company anticipates that net sales in the first quarter of 2020 will decline in the mid-teens and the first half of the year will decline mid-single digits, which includes the anticipated impact of manufacturing disruptions and delayed shipments.

For earnings history and earnings-related data on Funko (FNKO) click here.