Press release
Mattel Reports Second Quarter 2022 Financial Results
Second Quarter 2022 Highlights Versus Prior Year Net Sales of $1,236 million, up 20% as reported, and 24% in constant currency Reported Gross Margin of
About this update from Mattel, Inc.
[{"type":"text","content":"\nSecond Quarter 2022 Highlights Versus Prior Year\n\n\nNet Sales of $1,236 million, up 20% as reported, and 24% in constant currency\n\n\nReported Gross Margin of 44.4%, a decrease of 310 basis points; Adjusted Gross Margin of 44.9%, a decrease of 260 basis points\n\n\nReported Operating Income of $125 million, up 155%, an increase of $76 million; Adjusted Operating Income of $121 million, up 82%, an increase of $55 million\n\n\nReported Net Income of $66 million, an improvement of $72 million\n\n\nReported EPS of $0.18, an improvement of $0.20 per share; Adjusted EPS of $0.18, an improvement of $0.15 per share\n\n\nAdjusted EBITDA of $185 million, up 42%, an increase of $55 million\n\n\nCompany reiterates 2022 guidance for Net Sales, Adjusted EPS and Adjusted EBITDA, and updates to include the expected impact of currency translation on Net Sales, and improvement in Adjusted Gross Margin\n\n\nCompany reiterates 2023 goals\n\n\n EL SEGUNDO, Calif.--(BUSINESS WIRE)--\nMattel, Inc. (NASDAQ: MAT) today reported second quarter financial results.\n\nYnon Kreiz, Chairman and CEO of Mattel, said: “Mattel achieved another quarter of exceptional results, with double-digit growth in revenue and Adjusted EBITDA despite significant inflation. This was the eighth consecutive quarter of increased topline performance, reflecting the strength and breadth of our portfolio, and the success in executing our strategy to grow Mattel’s IP-driven toy business and expand our entertainment offering.”\n\nMr. Kreiz continued: “The first half of the year was an outstanding period of growth for the company. We are benefiting from strong retail partnerships and look forward to meeting the projected increase in consumer demand for our product, as we enter the second half of the year and the all-important holiday season. As the owner of one of the strongest portfolios of children’s and family entertainment franchises in the world, we are excited by the opportunities to capture the full value of our IP.”\n\nAnthony DiSilvestro, CFO of Mattel, said: “We are very pleased with our second quarter and first half results. We continued to reduce leverage and progress towards our goal of achieving an investment-grade credit rating. We are reiterating our 2022 guidance for Net Sales, Adjusted EPS, and Adjusted EBITDA, as well as our 2023 goals.”\n\nFinancial Overview\n\...