Press release
Mattel Reports Second Quarter 2021 Financial Results
Net Sales of $1,026 million, up 40% as reported, and 36% in constant currency, versus prior year Reported Gross Margin of 47.5%, an improvement of 390 basis
About this update from Mattel, Inc.
[{"type":"text","content":"\n\nNet Sales of $1,026 million, up 40% as reported, and 36% in constant currency, versus prior year \n\n\nReported Gross Margin of 47.5%, an improvement of 390 basis points; Adjusted Gross Margin of 47.5%, an improvement of 370 basis points \n\n\nReported Operating Income of $49 million, an improvement of $97 million; Adjusted Operating Income of $67 million, an improvement of $94 million \n\n\nReported Net Loss of $6 million, an improvement of $106 million\n\n\nAdjusted EBITDA of $131 million, an increase of $102 million\n\n\nUpdated 2021 guidance to be provided on the Company’s Q2 2021 conference call and live webcast\n\n\n EL SEGUNDO, Calif.--(BUSINESS WIRE)--\nMattel, Inc. (NASDAQ: MAT) today reported second quarter 2021 financial results.\n\nYnon Kreiz, Chairman and CEO of Mattel said: “This was another exceptional quarter for Mattel, with outstanding consumer demand for our product. Our strength is foundational and broad-based. We believe we are in the strongest position we have been in many years to improve profitability and accelerate topline growth. This is an exciting time for Mattel.”\n\nMr. Kreiz continued: “Our overall performance this quarter and comprehensive topline growth is adding momentum to our transformation strategy. We are now firmly in growth mode and establishing Mattel as an IP-driven, high-performing toy company.”\n\nAnthony DiSilvestro, CFO of Mattel said: “Mattel continued its strong performance this quarter, with substantial gains in net sales, further expansion of gross margin, and more than quadrupling our Adjusted EBITDA. We are meaningfully increasing our cash flow generation and free cash flow conversion as well as strengthening the balance sheet. We are pleased to raise guidance as we continue to improve profitability and accelerate topline growth.”\n\nFor the second quarter, Net Sales were up 40% as reported, and 36% in constant currency, versus the prior year’s second quarter. Reported Operating Income was $49 million, an improvement of $97 million, and Adjusted Operating Income was $67 million, an improvement of $94 million. Reported Loss Per Share was $0.02, an improvement of $0.30 per share, and Adjusted Earnings Per Share was $0.03, an improvement of $0.29 per share.\n\nFor the first six months of the year, Net Sales were up 43% as reported, and 41% in constant currency, versus the prio...