Mattel and Hasbro decreased guidance for the end of the year as toy sales continue to drop during the third quarter. The lowered guidance comes before the holiday season, where softened results could have major major effects for retail companies like Mattel and Hasbro.
Mattel, Inc. (NASDAQ:MAT ) Q3 2024 Earnings Conference Call October 23, 2024 5:00 PM ET Company Participants Jenn Kettnich - VP, IR Ynon Kreiz - Chairman and CEO Anthony DiSilvestro - CFO Conference Call Participants Arpine Kocharyan - UBS Megan Alexander - Morgan Stanley Drew Crum - Stifel Stephen Laszczyk - Goldman Sachs Jim Chartier - Monness, Crespi, and Hardt Christopher Horvers - JPMorgan Kylie Cohu - Jefferies Alex Perry - Bank of America Linda Bolton-Weiser - D.A. Davidson Jaime Katz - Morningstar James Hardiman - Citi Fred Wightman - Wolfe Research Operator Thank you for standing by, and welcome to the Mattel, Inc. Third Quarter 2024 Earnings Conference Call.
Mattel has lowered its sales forecast for the year, in large part due to a 17% decline in gross billings for Barbie merchandise during the third quarter.
While the top- and bottom-line numbers for Mattel (MAT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Mattel (MAT) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.08 per share a year ago.
Mattel Inc. reported mixed third-quarter results, as a drop in demand for Barbie toys weighed on sales overall — but management said it expects a solid holiday season ahead and a toy-centric film lineup that could help drive sales.
Mattel lowered its full-year sales forecast on Wednesday as the Barbie parent heads into the crucial holiday shopping season against the backdrop of muted demand for toys.
Get a deeper insight into the potential performance of Mattel (MAT) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
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MAT's third-quarter top line is likely to have been hurt by soft sales in North America.
Mattel (MAT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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