Mattel Q3 2022 Earnings Report
Key Takeaways
Mattel reported flat net sales as reported, but a 3% increase in constant currency for Q3 2022. Operating income increased slightly, while net income decreased due to a prior year non-cash benefit. The company is updating its full-year guidance and re-evaluating its 2023 goals amid market volatility.
Net sales were flat as reported, but increased by 3% in constant currency.
Operating income saw a slight increase of 1%, while adjusted operating income decreased by 1%.
Reported EPS was $0.80, compared to $2.24 per share, and adjusted EPS was $0.82, a decrease of $0.02 per share.
Gross margin increased by 40 basis points to 48.2%.
Mattel
Mattel
Mattel Revenue by Segment
Forward Guidance
Mattel is re-evaluating its expectations and will provide annual guidance for 2023 on its 2022 fourth quarter and full year earnings call. The company expects to achieve top and bottom-line growth in 2023.
Positive Outlook
- Achieve top and bottom-line growth in 2023.
Challenges Ahead
- Increased volatility in the market
- Revised 2022 outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income