Mattel Kicks Off Q3 Earnings Season, Adjusts Guidance
The home that Barbie and Hot Wheels constructed reported world web gross sales of $1.84 billion within the third quarter, a 4% decline versus the identical interval final 12 months. Gross sales in North America fell 3%.
“We proceed to execute on our multi-year technique to develop our IP-driven toy enterprise and develop our leisure providing. In keeping with our priorities this 12 months, we proceed to enhance profitability, develop Gross Margin, and generate vital money stream. We count on topline progress within the fourth quarter pushed by an excellent vacation season, market share positive aspects and a toyetic theatrical slate and are properly positioned for long-term progress and shareholder worth creation.””
Reported working revenue was $488 million, an enchancment of $14 million. Adjusted working revenue was $504 million, a lower of $2 million. Reported earnings per share had been $1.09, an enchancment versus $0.41 per share. Mattel says its adjusted EBITDA of $584 million is an enchancment of $5 million
For the primary 9 months of 2024, web gross sales dipped 2%. Trying forward, the corporate expects gross sales for 2024 to be flat to barely down in comparison with final 12 months.
The submit Mattel Kicks Off Q3 Earnings Season, Adjusts Guidance appeared first on The Toy Book.
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