Press release
Mattel Reports Fourth Quarter and Full Year 2021 Financial Results
Fourth Quarter 2021 Highlights Versus Prior Year Net Sales of $1,795 million, up 10% as reported, and 11% in constant currency Reported Operating Income of
About this update from Mattel, Inc.
[{"type":"text","content":"\nFourth Quarter 2021 Highlights Versus Prior Year\n\n\nNet Sales of $1,795 million, up 10% as reported, and 11% in constant currency\n\n\nReported Operating Income of $257 million, an increase of $69 million; Adjusted Operating Income of $264 million, an increase of $64 million\n\n\nReported Net Income of $226 million, an increase of $97 million, which includes a non-cash benefit of $49 million resulting from the release of valuation allowances on certain deferred tax assets\n\n\nAdjusted EBITDA of $321 million, an increase of $48 million\n\n\nFull Year 2021 Highlights Versus Prior Year\n\n\nNet Sales of $5,458 million, up 19% as reported, and 18% in constant currency\n\n\nReported Gross Margin of 48.1%, a decrease of 80 basis points; Adjusted Gross Margin of 48.2%, a decrease of 80 basis points\n\n\nReported Operating Income of $730 million, an increase of $355 million; Adjusted Operating Income of $763 million, an increase of $322 million\n\n\nReported Net Income of $903 million, an increase of $779 million, which includes a non-cash benefit of $541 million resulting from the release of valuation allowances on certain deferred tax assets\n\n\nReported EPS of $2.53, an increase of $2.18 per share, which includes a benefit of $1.51 resulting from the release of valuation allowances on certain deferred tax assets\n\n\nAdjusted EBITDA of $1,007 million, an increase of $301 million\n\n\nCash Flows Provided by Operating Activities of $485 million, an increase of $200 million; Free Cash Flow of $334 million, an increase of $167 million\n\n\nCompany announces 2022 guidance and 2023 goals\n\n\n EL SEGUNDO, Calif.--(BUSINESS WIRE)--\nMattel, Inc. (NASDAQ: MAT) today reported fourth quarter and full year financial results.\n\nYnon Kreiz, Chairman and CEO of Mattel, said: “Mattel’s results for the quarter and full year came in well ahead of expectations, capping another exceptional performance for the company. We have made significant progress on our transformation strategy over the last few years, and our turnaround is now complete. We are in growth mode and believe we are well-positioned to continue our momentum, with 2022 guidance exceeding prior goals and an even stronger outlook for 2023.”\n\nMr. Kreiz continued: “In 2021, our products resonated with consumers at levels we have not seen in years and, per The NPD Group, we continued ...