Mattel (MAT) Q3 2024 adj. earnings rise despite lower sales

Mattel Q3 2024 earnings infographic

Toy maker Mattel, Inc. (NASDAQ: MAT) has reported mixed results for the third quarter of 2024 when sales declined due to weak demand across the company’s operating segments.

Mattel Q3 2024 earnings infographicMattel Q3 2024 earnings infographic

Net sales decreased 4% from last year to $1.84 billion in the September quarter. Domestic and international sales declined by 3% and 5% respectively.

Net income more than doubled to $372.4 million or $1.09 per share during the three months. Adjusted profit increased 6% year-over-year to $1.14 per share in Q3.

“We expect topline growth in the fourth quarter driven by a good holiday season, market share gains, and a toyetic theatrical slate and are well positioned for long-term growth and shareholder value creation,” Mattel’s CEO Ynon Kreiz said.

Prior Performance

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