Mattel (MAT) Misses Q4 EPS by 19c
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EPS Growth %: +45.8%
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Net Income Per Common Share-Diluted: 0.68
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Mattel (NASDAQ: MAT) reported Q4 EPS of $0.52, $0.19 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.96 billion.
"Our results were negatively impacted by a number of industry–wide challenges, including a significant U.S. toy category slowdown in the holiday period, and increased forex headwinds," said Christopher Sinclair, Chairman and CEO of Mattel. "And while our sales at retail remained strong, the slowdown triggered elevated retail promotional activity and decreased shipping, all of which had a significant impact on our gross margin."
Mr. Sinclair added, "Even against this difficult backdrop, our core brands continued to show solid growth, and our performance in key emerging markets like China was equally strong. And, importantly, we offset a substantial revenue gap from the loss of the Disney Princess license. Looking forward, we remain broadly optimistic about Mattel's performance in 2017 and beyond. Our core brands are strong and growing, we have a solid lineup of entertainment properties in the pipeline, and we are forging valuable relationships with key retail partners throughout the world."
For earnings history and earnings-related data on Mattel (MAT) click here.
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