Mattel, Inc. (NASDAQ:MAT) shares fell after the company missed earnings and revenue estimates in its third-quarter financial report after Tuesday's closing bell.
Here's a look at the key figures from the quarter.
- MAT stock is down. See the real-time price action here.
The Details: Mattel reported adjusted earnings of 89 cents per share, which missed the $1.07 analyst estimate.
Quarterly revenue came in at $1.73 billion, which missed the Street estimate of $1.83 billion for the quarter.
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Mattel reported the following highlights for the third quarter:
- Net Sales of $1,736 million, down 6% as reported, and 7% in constant currency.
- Adjusted Gross Margin of 50.2%, a decrease of 290 basis points
- Adjusted Operating Income of $387 million, a decrease of $117 million
- Net Income of $278 million, a decrease of $94 million
“While our U.S. business was challenged in the third quarter by industry-wide shifts in retailer ordering patterns, the fundamentals of our business are strong, with growth in consumer demand for our products across every region,” Ynon Kreiz, CEO of Mattel, said.
“Since the beginning of the fourth quarter, orders from retailers in the U.S. have accelerated significantly and our POS is growing. Looking into the balance of the year, we expect a good holiday season for Mattel and strong topline growth in the fourth quarter,” Kreiz added.
Outlook: Mattel affirmed its fiscal 2025 EPS guidance of $1.54 to $1.66, versus the $1.61 estimate, and revenue guidance of $5.43 billion to $5.54 billion, versus the $5.45 billion estimate.
MAT Stock Price: According to data from Benzinga Pro, Mattel stock was down 4.36% at $18 in Tuesday's extended trading.
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