Gage Skidmore
Net income for the October–December period was $147.3 million, or $0.42 per share, in contrast to $16.1 million, or $0.04 per share, a year earlier, according to the company's press statement. Excluding one-time variables, earnings per share increased to $0.29 from $0.18.
Revenue reached $1.621 billion, up 16%.
On average, FactSet polled analysts predicted adjusted earnings per share of $0.31 on $1.65 billion in revenue.
The prior quarter saw an 18% increase in gross sales of Hot Wheels vehicles and other wheeled toys, a 29% increase in doll sales (including Barbie) to $763 million, a 9% increase in infant toy sales (including Fisher-Price and Thomas & Friends) to $292 million, and a 3% increase to $311 million in other toy sales.
The business projects 2024 revenue of $5.441 billion, excluding currency movements, and adjusted EPS of $1.35 to 1.45 (compared to $1.23 in 2023) and adjusted EBITDA of $975 million to $1.025 billion ($948 million).
Furthermore, according to MarketWatch, Mattel is initiating a cost-cutting effort that will run until 2026 and cost $200 million year on average. According to the corporation, part of the initiative is closing a factory in China.
source: marketwatch.com
Revenue reached $1.621 billion, up 16%.
On average, FactSet polled analysts predicted adjusted earnings per share of $0.31 on $1.65 billion in revenue.
The prior quarter saw an 18% increase in gross sales of Hot Wheels vehicles and other wheeled toys, a 29% increase in doll sales (including Barbie) to $763 million, a 9% increase in infant toy sales (including Fisher-Price and Thomas & Friends) to $292 million, and a 3% increase to $311 million in other toy sales.
The business projects 2024 revenue of $5.441 billion, excluding currency movements, and adjusted EPS of $1.35 to 1.45 (compared to $1.23 in 2023) and adjusted EBITDA of $975 million to $1.025 billion ($948 million).
Furthermore, according to MarketWatch, Mattel is initiating a cost-cutting effort that will run until 2026 and cost $200 million year on average. According to the corporation, part of the initiative is closing a factory in China.
source: marketwatch.com
