Funko (NASDAQ: FNKO) reported Q4 EPS of $0.38, $0.14 better than the analyst estimate of $0.24. Revenue for the quarter came in at $336.3 million versus the consensus estimate of $272.49 million.

GUIDANCE:

Funko sees FY2022 EPS of $1.75-$1.91, versus the consensus of $1.43.

• In 2022, the Company expects the following full year results:
• Net sales growth of 20% to 25%, including Q1'22 in the mid-40% range;
• Adjusted EBITDA margin1 in the range of FY2021, due to ongoing trans-ocean freight inflation. Included in our guidance is approximately 80 bps of headwind from one-time project spend associated with the consolidation and relocation of our U.S.-based distribution center and the implementation of our new ERP system;
• Adjusted Net Income1 of $95.8 million to $104.8 million, based on a blended tax rate of 25%;
• Adjusted Earnings per Diluted Share1 of $1.75 per to $1.91, based on estimated adjusted average diluted shares outstanding of 54.8 million for the full year.
• "Due to the timing of several cost items in 2022, we've provided additional commentary describing our expectations for quarterly margin profile for the year," said Jennifer Fall Jung, Chief Financial Officer. "Our gross margin is heavily influenced by the current inflationary freight environment. Our guidance for the year assumes freight rates will remain elevated at least through the first half of the year. As a result, we expect first half gross margins to face a similar headwind to the second half of 2021.
• "SG&A as a percent of sales is also expected to be slightly higher in the first half of the year due to the timing of project costs associated with the consolidation and relocation of our U.S.-based distribution centers and our ERP implementation."

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