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Mar 31, 2024
Mattel Q1 2024 Earnings Report
Mattel's financial performance showed improvement in gross margin and bottom-line results, driven by cost savings and efficiency programs.
Key Takeaways
Mattel reported a slight decrease in net sales but significant improvements in gross margin, operating loss, and net loss. The company reiterated its 2024 guidance, expecting to outpace the industry and gain market share.
Net sales decreased by 1% as reported and in constant currency.
Gross margin increased by 800 basis points to 48.0%.
Operating loss improved by $80 million to $36 million.
The company repurchased $100 million of shares and reiterated its 2024 guidance.
Mattel
Mattel
Mattel Revenue by Segment
Mattel Revenue by Geographic Location
Revenue by Segment
North America Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
EMEA Revenue
CapyFin.comLatin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Mattel's full year 2024 guidance remains consistent with previous expectations, despite macroeconomic uncertainties.
Positive Outlook
- Net Sales Comparable (Constant Currency): $5,441 million
- Adjusted Gross Margin: 48.5 - 49%
- Adjusted EPS: $1.35 - $1.45
- Adjusted EBITDA: $975 - $1,025 million
- Free Cash Flow: ~$500 million
Challenges Ahead
- We are operating in a macro-economic environment that may impact consumer demand.
- The guidance considers what the company is aware of today, but remains subject to market volatility.
- The guidance considers what the company is aware of today, but remains subject to unexpected disruptions.
- The guidance considers what the company is aware of today, but remains subject to other risks and uncertainties.
- A reconciliation of Mattel’s non-GAAP financial measures on a forward-looking basis is not available without unreasonable effort.
Revenue & Expenses
Visualization of income flow from segment revenue to net income