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11h ago

Mattel Misses Q3 Targets on North America Weakness, Reaffirms 2025 Outlook

Management points to later retailer orders that delayed shipments into the holiday quarter.

Barbie dolls, a brand owned by Mattel, are seen at the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly
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Overview

  • Adjusted earnings were $0.89 per share on revenue of about $1.73–$1.74 billion, below Wall Street estimates of $1.07 and $1.83 billion.
  • North America sales fell roughly 12% year over year, and adjusted gross margin declined to 50.2% from 53.1% due to inflation and tariff costs.
  • CEO Ynon Kreiz said U.S. retailers shifted from domestic import to direct shipping to make decisions closer to the season, pressuring third-quarter results.
  • The company said U.S. orders have accelerated since the start of the fourth quarter and maintained 2025 guidance for EPS of $1.54–$1.66 and revenue of $5.43–$5.54 billion.
  • Mattel is reducing reliance on China to under 40% of production by year-end 2025, and Netflix announced a global licensing deal with Mattel and Hasbro starting in 2026.