Mattel Q2 2024: EPS $0.17 vs $0.08 YoY, gross margin expands 410bps, guidance reaffirmed

MATTEL INC /DE/

2024-Q2 EPS reported $0.08 revenue$1,889,237,000

Net sales $1,080M, down 1% as reported, flat in constant currency vs Q2 2023.
GAAP EPS $0.17 vs $0.08; Adjusted EPS $0.19 vs $0.10, both up $0.09 YoY.
Adjusted gross margin 49.2% vs 44.9%, driven by cost savings and deflation.
Repurchased $100M of shares in Q2, bringing H1 total to $200M.
FY2024 guidance unchanged: Adj. EPS $1.35-$1.45, Adj. EBITDA $975-$1,025M.

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