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Sep 30, 2021
Mattel Q3 2021 Earnings Report
Mattel's financial performance was strong, exceeding expectations with increased consumer demand and strategic execution in navigating global supply chain disruptions.
Key Takeaways
Mattel reported strong Q3 2021 financial results, with net sales up 8% and significant gains in market share. The company successfully navigated global supply chain disruptions and raised its 2021 guidance for net sales and adjusted EBITDA.
Net sales increased by 8% as reported, and 7% in constant currency, compared to the prior year.
Reported operating income rose by $10 million, while adjusted operating income improved by $4 million.
The company successfully navigated ongoing global supply chain disruption and gained market share.
Mattel raised its 2021 guidance for net sales in constant currency and adjusted EBITDA.
Mattel
Mattel
Mattel Revenue by Segment
Revenue by Segment
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Full-year Net Sales, in constant currency, are expected to increase by approximately 15% versus the prior year. Adjusted Gross Margin guidance remains unchanged at a range of 47.6% to 48.1%. Adjusted EBITDA guidance is increasing by $25 million to a range of $900 to $925 million.
Positive Outlook
- Net Sales are expected to increase by approximately 15% versus the prior year.
- Adjusted Gross Margin guidance remains unchanged at a range of 47.6% to 48.1%.
- Adjusted EBITDA guidance is increasing by $25 million to a range of $900 to $925 million.
- Capital expenditures guidance remains unchanged at a range of $150 to $175 million.
- Company expects to grow for the balance of the year and have a strong holiday season.
Challenges Ahead
- Guidance takes into account anticipated supply chain disruption.
- Guidance remains subject to market volatility.
- Guidance remains subject to macro-economic risks and uncertainties.
- Guidance remains subject to risks associated with COVID-19.
- Unexpected supply chain disruption could negatively impact performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income