Shoppers at a Walmart store on Black Friday in Secaucus, New Jersey, on Nov. 24, 2023.Mattel and Hasbro decreased their end-of-year guidance ahead of the key holiday season as toy sales continue to slide during the third quarter.Earnings per share for both toy giants beat out Wall Street expectations while revenue missed, according to consensus estimates compiled by LSEG.But mixed results for both companies' third quarters were reflected in the updated year-end guidance for 2024.Mattel said it expects sales ...

Third Quarter 2024 Earnings (Unaudited Results) October 23, 2024 Cautionary Note Regarding Forward-Looking Statements / Presentation Information Mattel cautions the viewer that this presentation contains a number of forward-looking statements, which are statements that relate to the future and are, by their nature, uncertain. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include statements regarding Mattel's guidance and goals fo ...

Financial Data and Key Metrics Changes - Net sales declined 4% as reported and 3% in constant currency compared to the prior year [7][14] - Adjusted gross margin increased 210 basis points to 53.1% [7][18] - Adjusted EBITDA improved 1% to $584 million [7][19] - Adjusted EPS grew 6% to $1.14 [7][19] - Free cash flow in the trailing 12 months improved nearly 50% to $688 million [7][20] Performance by Business Line - Dolls gross billings were down 14%, impacted by the prior year's success of the Barbie movie [15][8] - Vehicles gross billings grew 13%, driven by Hot Wheels and supported by streaming content [15][8] - Infant, Toddler, and Preschool declined 2%, while Fisher-Price grew 2% [16][8] - Challenger categories collectively grew 3%, with the Games category achieving double-digit growth driven by Uno [16][8] Market Data and Key Metrics Changes - North America declined 3% primarily due to the Barbie movie comparison [17] - EMEA declined 6%, also impacted by the movie-related comparison [17] - Latin America grew 2%, driven by gains in Mexico and Brazil [17] - Asia-Pacific grew 8%, driven by gains in India and Japan [17] Company Strategy and Industry Competition - The company continues to execute its multiyear strategy to grow its IP-driven toy business and expand its entertainment offerings [6][13] - The toy industry is expected to return to growth beyond 2024, driven by strong fundamentals and increased demand for toys [12][39] - The company is well-positioned competitively with a broad-based lineup of innovative products for the holiday season [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a good holiday season, supported by positive retail sentiment and demand for toys [27][63] - The company anticipates growth in the fourth quarter and expects to gain market share [27][34] - Management noted that the toy industry continues to perform better than initially expected, with a modest decline anticipated for the full year [12][38] Other Important Information - The company has repurchased $268 million of shares through the first nine months of the year [7][20] - The Optimizing for Profitable Growth Program is expected to generate approximately $75 million of savings in 2024, exceeding the original target [22][58] Q&A Session Summary Question: Retail environment concerns and growth guidance for Q4 - Management noted that the toy industry is performing better than expected and anticipates growth in Q4, supported by consumer demand for well-known brands [26][27] Question: Margin outlook for Q4 - Management indicated that margins may be pressured due to expected cost inflation and the wrap of movie-related benefits [28][29] Question: Understanding POS and gross billings relationship - Management explained that retail inventory movements can be volatile and that they are well-positioned for the holiday season despite the decline in POS [31][33] Question: Factors driving optimism for industry growth in 2025 - Management highlighted strong industry fundamentals and the importance of toys in consumers' lives as key drivers for future growth [38][39] Question: Impact of retail partner payment term changes on free cash flow - Management confirmed no impact on free cash flow guidance despite changes in payment terms from a major retail partner [40] Question: Capital expenditures and share repurchase pace - Management discussed the acquisition of a new global design center and indicated that share repurchases will continue in line with capital allocation priorities [41][44] Question: Digital gaming initiatives and launch schedule - Management outlined the strategy for digital gaming, emphasizing the importance of extending physical play into the virtual world [46][48] Question: SG&A growth drivers - Management noted that SG&A is expected to increase slightly as a percent of sales due to investments in digital gaming and IT capabilities [49] Question: Changes in outlook for Power brands - Management stated there were no changes in overall category guidance or expectations for Power brands [64]

Barbie Dream Besties, from Mattel, are displayed at the TTPM 2024 Holiday Showcase event, in New ... [+] York, Tuesday, Sept. 17, 2024. (AP Photo/Richard Drew)Copyright 2024 The Associated Press. All rights reservedMattel has lowered its sales forecast for the year, in large part due to a 17% decline in gross billings for Barbie merchandise during the third quarter.The Barbie brand was up against tough comparisons to last year’s third quarter, when Mattel reaped the lion’s share of what was estimated to be ...

Mattel (MAT) reported $1.84 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 3.9%. EPS of $1.14 for the same period compares to $1.08 a year ago.The reported revenue represents a surprise of +0.38% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being $0.94, the EPS surprise was +21.28%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Mattel (MAT) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.28%. A quarter ago, it was expected that this toy maker would post earnings of $0.16 per share when it actually produced earnings of $0.19, delivering a surprise of 18.75%.Over the last four quarters, the company has surp ...

Exhibit 99.1 NEWS RELEASE MATTEL REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS Third Quarter 2024 Highlights Versus Prior Year • Net Sales of $1,844 million, down 4% as reported, and 3% in constant currency • Gross Margin of 53.1%, an increase of 210 basis points; Adjusted Gross Margin of 53.1%, an increase of 210 basis points • Operating Income of $488 million, an increase of $14 million; Adjusted Operating Income of $504 million, a decrease of $2 million • Net Income of $372 million, an improvement of $226 ...

Analysts on Wall Street project that Mattel (MAT) will announce quarterly earnings of $0.94 per share in its forthcoming report, representing a decline of 13% year over year. Revenues are projected to reach $1.84 billion, declining 4.3% from the same quarter last year.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to ...

Mattel, Inc. (MAT) is scheduled to report third-quarter 2024 results on Oct. 23, 2024, after the closing bell. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 18.8%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Trend in Estimate RevisionFor the quarter to be reported, the Zacks Consensus Estimate for earnings is pegged at 94 cents, down 13% year over year. In the past seven days, earnings estimates for the quarter have been revised up ...

Mattel (MAT) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on October 23, 2024, might help the stock move higher if these key numbers are better than expec ...