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Jun 30, 2022
Mattel Q2 2022 Earnings Report
Mattel experienced strong revenue growth and improved profitability, driven by successful brand performance and strategic execution.
Key Takeaways
Mattel reported a strong second quarter with a 20% increase in net sales and significant improvements in operating and net income. The company reiterates its 2022 guidance and 2023 goals, reflecting confidence in its strategic direction and portfolio strength.
Net sales increased by 20% as reported, and 24% in constant currency, reflecting strong demand and effective execution.
Reported operating income rose by 155%, driven by increased sales and cost management.
Earnings per share improved to $0.18, up $0.20 per share, showcasing enhanced profitability.
The company is reiterating its 2022 guidance for net sales, adjusted EPS, and adjusted EBITDA, while also updating to include the expected impact of currency translation on net sales, and improvement in Adjusted Gross Margin
Revenue by Segment
Forward Guidance
Mattel reiterates its 2022 guidance for Net Sales, Adjusted EPS and Adjusted EBITDA, and updates to include the expected impact of currency translation on Net Sales, and improvement in Adjusted Gross Margin. Mattel's 2023 goals remain as follows: FY2023 Net Sales + High-Single Digit %(Constant Currency), Adjusted Operating Income Margin ~16%-17% of Net Sales, Adjusted EPS > $1.90
Positive Outlook
- Net Sales +8%-10% (Constant Currency)
- Net Sales Currency Translation (2 - 3%)
- Adjusted Gross Margin 47 - 48%
- Adjusted EBITDA $1,100-$1,125
- Adjusted EPS $1.42-$1.48
Challenges Ahead
- Capital Expenditures $175 - $200
- Anticipated supply chain disruption
- Fluctuations in foreign exchange rates
- Changes in global economic conditions and consumer spending
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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