Mattel Q1 net loss narrows to $28M; gross margin up 800 bps; reiterates 2024 guidance

MATTEL INC /DE/

2024-Q1 EPS reported -$0.08 revenue$809,508,000

Net sales $810M, down 1% YoY; gross margin 48.0% vs 40.0% YoY (up 800 bps).
Operating loss $36M vs $116M loss a year ago; adjusted operating loss $23M.
Adjusted EPS loss $0.05 vs loss $0.24; repurchased $100M of shares in quarter.
Reiterates FY2024 guidance: adjusted EPS $1.35-$1.45, adjusted EBITDA $975M-$1,025M.
Vehicles (Hot Wheels) gross billings up 5% YoY; Dolls down 4% on Disney Princess weakness.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MATTEL INC /DE/ reported first quarter 2024 results: revenue $810 million, net income Net Loss of $28 million, EPS Loss per Share of $0.08. Guidance reaffirmed.

Period: first quarter 2024
Revenue: $810 million
Net income: Net Loss of $28 million
EPS: Loss per Share of $0.08
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- NEWS RELEASE Exhibit 99.1 MATTEL REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS First Quarter 2024 Highlights Versus Prior Year • Net Sales of $810 million, down 1% as reported and in constant currency • Gross Margin of 48.0%, an increase of 800 basis points; Adjusted Gross Margin of 48.3%, an increase of 830 basis points •

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Source: SEC EDGAR

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