MATMattel, Inc.
Earnings Recap
• Reported GAAP EPS of $0.35 down -16.67% YoY • Reported revenue of $1.77B up 7.29% YoY • Mattel expects full year 2026 Net Sales to increase by 3% to 6% in constant currency, Adjusted Gross Margin to be approximately 50%, Adjusted Operating Income to be $550M, and Adjusted EPS to be $1.18-$1.30.
Bullish
Mattel achieved strong Q4 net sales growth, driven by international and North American performance. The company is investing $150M in strategic initiatives and IP-driven growth, while the Vehicles category, led by Hot Wheels, showed strong billing increases.
Bearish
Mattel experienced decreased gross and operating margins due to higher costs and discounts. Key categories like Infant, Toddler, and Preschool, and Dolls saw significant declines, while the company faces market volatility and macroeconomic risks.