Mattel Q1 2021 Earnings Report
Key Takeaways
Mattel reported a strong first quarter in 2021, with net sales up 47% to $874 million. The company saw improvements in gross margin, operating income, and net loss, driven by growth across various product categories and regions. Mattel is updating its 2021 guidance to reflect its strong Q1 performance and updated outlook for cost inflation.
Net sales increased by 47% as reported, and 46% in constant currency, reaching $874 million.
Reported gross margin improved by 380 basis points to 46.8%, with adjusted gross margin up 350 basis points to 47.0%.
Reported operating income improved by $181 million to $31 million, while adjusted operating income improved by $161 million to $28 million.
The company completed a $1.2 billion refinancing transaction, which is expected to reduce annual interest expense by $40 million.
Mattel
Mattel
Mattel Revenue by Segment
Mattel Revenue by Geographic Location
Forward Guidance
Mattel is revising 2021 guidance to reflect stronger-than-anticipated first quarter performance and updated outlook for cost inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income