The home that Barbie and Hot Wheels constructed reported international web gross sales of $1.84 billion within the third quarter, a 4% decline versus the identical interval final yr. Gross sales in North America fell 3%.
“We proceed to execute on our multi-year technique to develop our IP-driven toy enterprise and broaden our leisure providing. According to our priorities this yr, we proceed to enhance profitability, broaden Gross Margin, and generate important money move. We anticipate topline progress within the fourth quarter pushed by a superb vacation season, market share features and a toyetic theatrical slate and are effectively positioned for long-term progress and shareholder worth creation.””
Reported working earnings was $488 million, an enchancment of $14 million. Adjusted working earnings was $504 million, a lower of $2 million. Reported earnings per share have been $1.09, an enchancment versus $0.41 per share. Mattel says its adjusted EBITDA of $584 million is an enchancment of $5 million
For the primary 9 months of 2024, web gross sales dipped 2%. Trying forward, the corporate expects gross sales for 2024 to be flat to barely down in comparison with final yr.
The submit Mattel Kicks Off Q3 Earnings Season, Adjusts Guidance appeared first on The Toy Book.
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