Mattel (MAT) Tops Q1 EPS by 1c, Revenue Beats, Offers Guidance

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Mattel Reports First Quarter 2023 Financial Results

April 26, 2023 4:05 PM EDT

First Quarter 2023 Highlights Versus Prior Year

Net Sales of $815 million, down 22% as reported, or 21% in constant currency Gross Margin of 40.0%, a decrease of 640 basis points; Adjusted Gross Margin of 40.0%, a decrease of 660 basis points Operating Loss of $115 million, a decrease of $195 million; Adjusted Operating Loss of $87 million, a decrease of $177 million Net Loss of $106 million compared to prior year Net Income of $21 million Net Loss per Share of $0.30 compared to prior year Net Income per Share of $0.06; Adjusted Net Loss per Share of $0.24 compared to prior year Net Income per... More