Funko's CEO believes the company is now on a more solid foundation for growth. Despite warning of potential higher shipping costs and a softer content slate in 2024, the company still expects to improve its bottom line in 2024.
The company, burdened with significant debt and an EBIT loss, seems to be in a precarious position. Last year's negative free cash flow of US$21m further exacerbates the company's troubling financial state.
The firm's interim CEO, Michael Lunsford, stated the results were beyond their expectations and highlighted the company's ongoing efforts to streamline its business and focus on core products.
$Funko (FNKO.US)$Global Medical Marijuana Market Forecast to 2028 - Featuring Aphria, Canopy Growth, CanaQuest Medical and GW Pharmaceuticals Among Others - ResearchAndMarkets.com
Gainers: In reaction to earnings/guidance: •$The ODP (ODP.US)$+8.03% (The ODP Corporation gains on guiding Q2 and FY22 earnings above the consensus; to buyback shares of $600M) •$Synchrony Financial (SYF.US)$+4.2%(The financial services company posted adjusted earnings per share of $1.60 for the June ended quarter, beating analysts' estimates of $1.41 per share, according to FactSet.) •$Goldman Sachs (GS.US)$+4.2% (Goldman Sachs beats...
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In reaction to earnings/guidance:
• $The ODP (ODP.US)$ +8.03% (The ODP Corporation gains on guiding Q2 and FY22 earnings above the consensus; to buyback shares of $600M)
• $Synchrony Financial (SYF.US)$ +4.2%(The financial services company posted adjusted earnings per share of $1.60 for the June ended quarter, beating analysts' estimates of $1.41 per share, according to FactSet.)
• $Goldman Sachs (GS.US)$ +4.2% (Goldman Sachs beats...
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