secwatch.observer — SEC 8-K summary
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Issuer:     MATTEL INC /DE/ (MAT)
CIK:        0000063276
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001628280-24-003691
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mattel reports Q4 net sales up 16%, EPS $0.42; launches $200M cost-savings program; authorizes $1B buyback
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- Q4 net sales $1.621B (+16% as reported); reported EPS $0.42 vs $0.04 prior year; adjusted EPS $0.29 vs $0.18.
- Full year net sales flat at $5.441B; adjusted EPS $1.23 vs $1.25; guides 2024 adjusted EPS $1.35-$1.45.
- Launches Optimizing for Profitable Growth program targeting $200M annual cost savings by 2026, with $130-$170M total costs.
- Board elects Julius Genachowski (ex-FCC chair) and Dawn Ostroff (ex-Spotify content chief); two directors resigned.
- Board authorizes $1B share repurchase program; $203M repurchased in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63276/000162828024003691/0001628280-24-003691-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63276/000162828024003691/mat-20240201.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-003691

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer