Press release
Mattel Reports Fourth Quarter and Full Year 2022 Financial Results
Fourth Quarter 2022 Highlights Versus Prior Year Net Sales of $1,402 million, down 22% as reported, or 19% in constant currency Gross Margin of 43.0%, a
About this update from Mattel, Inc.
[{"type":"text","content":"\nFourth Quarter 2022 Highlights Versus Prior Year\n\n\nNet Sales of $1,402 million, down 22% as reported, or 19% in constant currency\n\n\nGross Margin of 43.0%, a decrease of 630 basis points; Adjusted Gross Margin of 43.1%, a decrease of 620 basis points\n\n\nOperating Income of $79 million, a decrease of $178 million; Adjusted Operating Income of $79 million, a decrease of $185 million\n\n\nNet Income of $16 million, a decrease of $210 million\n\n\nEPS of $0.04 compared to $0.63 per share; Adjusted EPS of $0.18 compared to $0.53 per share\n\n\nAdjusted EBITDA of $158 million, a decrease of $163 million\n\n\nFull Year 2022 Highlights Versus Prior Year\n\n\nNet Sales of $5,435 million, flat as reported, or up 3% in constant currency\n\n\nGross Margin of 45.7%, a decrease of 240 basis points; Adjusted Gross Margin of 45.9%, a decrease of 230 basis points\n\n\nOperating Income of $676 million, a decrease of $54 million; Adjusted Operating Income of $689 million, a decrease of $75 million\n\n\nNet Income of $394 million, a decrease of $509 million; prior year included a non-cash benefit of $541 million resulting from the release of valuation allowances on deferred tax assets\n\n\nEPS of $1.10 compared to $2.53 per share; Adjusted EPS of $1.25 compared to $1.30 per share; prior year as reported EPS included a benefit of $1.51 per share resulting from the release of valuation allowances on deferred tax assets\n\n\nAdjusted EBITDA of $968 million, a decrease of $39 million\n\n\nCompany announces 2023 guidance\n\n\nCompany raises Optimizing for Growth cost savings program goal to $300 million\n\n\nShare repurchases expected to resume in 2023, with approximately $200 million remaining under the Company’s current authorization\n\n\n EL SEGUNDO, Calif.--(BUSINESS WIRE)--\nMattel, Inc. (NASDAQ: MAT) today reported fourth quarter and full year 2022 financial results.\n\nYnon Kreiz, Chairman and CEO of Mattel, said: “Our fourth quarter results were below our expectations, as the macro-economic environment was more challenging than anticipated. While less than expected, POS grew in the quarter and the full year and we achieved growth in net sales in constant currency for the fourth consecutive year. The increase in consumer demand for our product speaks to the strength of our portfolio as a whole, even in a challenging environment. We belie...