---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-013224"
form_type: "8-K"
ticker: "MAT"
cik: "0000063276"
company_name: "MATTEL INC /DE/"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T14:15:14.004987+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Mattel Q1 net loss $106M; revenue down 22% YoY; reaffirms FY guidance

## Summary
- Net sales $815M, down 22% as reported; net loss $106M ($0.30 loss per share) vs prior year net income $21M.
- Adjusted operating loss $87M, down $177M; adjusted EBITDA negative $14M, down $166M.
- Gross margin 40.0%, down 640 bps due to inventory management, cost inflation, and unfavorable fixed cost absorption.
- Reaffirms FY2023 guidance: adjusted EPS $1.10-$1.20, adjusted EBITDA $900-$950M, free cash flow >$400M.
- Repurchased $34M of shares; cites retail inventory management impact but expects improvement in H2.

## SEC filing metadata
- accession: 0001628280-23-013224
- form_type: 8-K
- ticker: MAT
- cik: 0000063276
- company_name: MATTEL INC /DE/
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/63276/000162828023013224/0001628280-23-013224-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/63276/000162828023013224/mat-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-013224
- JSON: https://secwatch.observer/filing/0001628280-23-013224.json
- Plain text: https://secwatch.observer/filing/0001628280-23-013224.txt

## Key facts
- Earnings Releases
  MATTEL INC /DE/ reported full year 2023 results: EPS $1.10 - $1.20. Guidance reaffirmed.
  - Period: full year 2023
  - EPS: $1.10 - $1.20
  - Guidance: reaffirmed
  - Result: guidance update
  source text: Mattel’s full year 2023 guidance remains: (in millions, except EPS and percentages) FY2023 Guidance FY2022 Net Sales Comparable (Constant Currency) $5,435 Adjusted Gross Margin ∼ 47% 45.9% Adjusted EPS $1.10 - $1.20 $1.25 Adjusted EBITDA $900 - $950 $968 Adjusted Tax Rate 25 - 26% 24% Capital Expenditures $175 - $200 $187 Free Cash Flow > $400 $256
  evidence_url: https://www.sec.gov/Archives/edgar/data/63276/000162828023013224/0001628280-23-013224-index.htm
- Earnings Releases
  MATTEL INC /DE/ reported first quarter 2023 results: revenue $815 million, net income $106 million, EPS $0.30. Guidance reaffirmed.
  - Period: first quarter 2023
  - Revenue: $815 million
  - Net income: $106 million
  - EPS: $0.30
  - Guidance: reaffirmed
  - Result: reported results
  source text: Net Sales of $815 million, down 22% as reported, or 21% in constant currency • Gross Margin of 40.0%, a decrease of 640 basis points; Adjusted Gross Margin of 40.0%, a decrease of 660 basis points • Operating Loss of $115 million, a decrease of $195 million; Adjusted Operating Loss of $87 million, a decrease of $177 million • Net Loss of $106 million compared to prior year Net Income of $21 million • Net Loss per Share of $0.30
  evidence_url: https://www.sec.gov/Archives/edgar/data/63276/000162828023013224/0001628280-23-013224-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.