Mattel Q4 net sales down 22%; EPS $0.04 vs $0.63; 2023 guidance below prior year adjusted EPS

MATTEL INC /DE/

2022-FY EPS reported $1.10 revenue$5,434,687,000

Q4 net sales $1,402M, down 22% as reported (19% constant currency); EPS $0.04 (adjusted $0.18) vs $0.63 prior year.
Full year net sales flat at $5,435M (+3% constant currency); adjusted EPS $1.25 vs $1.30 prior year.
Q4 gross margin 43.0%, down 630 bps; adjusted gross margin 43.1%, down 620 bps.
2023 guidance: adjusted EPS $1.10-$1.20, adjusted EBITDA $900-$950M, free cash flow >$400M.
Company raises Optimizing for Growth cost savings goal to $300M; expects share repurchases in 2023 with ~$200M remaining.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MATTEL INC /DE/ updated its the fourth quarter and full year 2022 guidance (reaffirmed).

Period: the fourth quarter and full year 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 8, 2023, Mattel, Inc. (“Mattel”) issued a press release regarding its fourth quarter and full year 2022 financial results

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Source: SEC EDGAR

accession 0001628280-23-002762

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