Mattel, Inc. (NASDAQ: MAT) reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Mattel reported quarterly earnings of $1.09 per share, which beat the analyst consensus estimate of 95 cents. Quarterly revenue came in at $1.843 billion which missed the analyst consensus estimate of $1.858 billion and represents a decrease from sales of $1.919 billion from the same period last year.
- For the third quarter, Worldwide Gross Billings for Dolls were $757 million, down 14% as reported and in constant currency, versus the prior year's third quarter, primarily due to declines in Barbie.
- Worldwide Gross Billings for Infant, Toddler, and Preschool were $350 million, down 3% as reported, or 2% in constant currency, primarily due to declines in Baby Gear & Power Wheels.
- Worldwide Gross Billings for Vehicles were $580 million, up 12% as reported, or 13% in constant currency, primarily driven by growth in Hot Wheels.
- Worldwide Gross Billings for Action Figures, Building Sets, Games, and Other were $364 million, up 2% as reported, or 3% in constant currency, primarily driven by growth in Games, partly offset by declines in Other and Building Sets.
"We expect topline growth in the fourth quarter driven by a good holiday season, market share gains and a toyetic theatrical slate and are well positioned for long-term growth and shareholder value creation," Kreiz added.
Outlook: Mattel sees fiscal year adjusted earnings of between $1.35 and $1.45 per share, versus the $1.44 estimate.
MAT Price Action: According to Benzinga Pro, Mattel shares are up 3.32% after-hours at $18.37 at the time of publication Wednesday.