=Mattel (MAT) reported earnings on Tue 29 Oct 2019 (a/h)

• #1, 4, 5, 19-22, 26, 49, 50, 52, 61, 85, 95

Mattel beats by $0.07, beats on revs; raises FY19 rev and EBITDA guidance; completes audit investigation which resulted in changes to the timing of income tax in 2017; CFO Joseph Euteneuer to step down

Reports Q3 (Sep) earnings of $0.26 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.19; revenues rose 3.1% year/year to $1.48 bln vs the $1.44 bln S&P Capital IQ Consensus.

Co raises full year revenue guidance to "slightly up" from prior guidance of flat, both in constant currency. Increases 2019 adjusted EBITDA margin to $400-425 mln vs prior guidance of $350-400 mln.

Co also announces that the Audit Committee of its Board of Directors has completed an independent investigation into the allegations contained in a whistleblower letter disclosed on August 8, 2019. The Letter, which had been sent to Mattel's outside auditors, questioned whether there were accounting errors in historical periods and whether Mattel's outside auditor was independent. The investigation determined that income tax expense was understated by $109 mln in 3Q17, and overstated by $109 mln in 4Q19, with no impact for the full year. The errors were non-cash, did not affect operating income or EBITDA, and had no impact on Mattel's full year financial results for 2017 or subsequent periods.

The investigation also determined that Mattel has certain material weaknesses in its internal control over financial reporting. The Audit Committee concluded that the objectivity and impartiality of Mattel's outside auditor has not been impaired, and that Mattel's outside auditor can continue as its independent auditor. Mattel's outside auditor agrees with that conclusion. Mattel will undertake a series of remedial actions, including the amendment of its 2018 Form 10-K to restate the last two quarters of 2017, and certain related information, and the strengthening of its internal control over financial reporting.

Co also announces that CFO Joseph Euteneuer will leave the company after a transition period of up to six months. Mattel is conducting a search for its next CFO.

=Mattel (MAT) reported earnings on Wed 25 July 2018 (a/h)

Mattel misses by $0.26, misses on revs 

• Reports Q2 (Jun) loss of $0.56 per share, $0.26 worse than the Capital IQ Consensus of ($0.30); revenues fell 13.7% year/year to $840.7 mln vs the $862.48 mln Capital IQ Consensus.

NEW YORK (AP) — Mattel, hurt by the closing of Toys R Us stores, said Wednesday that it will cut more than 2,200 jobs as the maker of Barbie dolls and Hot Wheels cars seeks to save money.

Like other toy companies, Mattel has lost sales as Toys R Us faltered. The toy retailer filed for bankruptcy protection last year, announced it was liquidating its business in March and then closed all its stores last month.

Mattel rival Hasbro, however, reported better-than-expected second-quarter financial results earlier this week, a sign that the maker of Monopoly and Play-Doh is rebounding from the demise of Toys R Us.

A Mattel spokesman said the job cuts will affect mainly its office workers worldwide and are part of the company's efforts to slash at least $650 million in costs. Mattel, which is based in El Segundo, California, has about 28,000 employees.

Mattel Inc.'s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

The company had other bad news: Its financial results between April are June were worse than what Wall Street analysts had expected.

It posted a loss of $240.9 million, or 70 cents per share, in the second quarter. Losses, adjusted for one-time gains and costs, were 56 cents per share, far larger than the loss of 32 cents per share analysts expected, according to Zacks Investment Research.

Revenue fell 14 percent to $840.7 million, below the $863.1 million analysts expected.

There were some bright spots: Barbie and Hot Wheels sales rose, even as Toys R Us shuttered its doors. Other brands didn't fare as well. Sales of its American Girl dolls fell, as did sales in its Fisher-Price brand.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us to subside by next year. Mattel, he said, is working closely with other retailers and looking for more ways to sell its toys online.

"Mattel is a company with great potential," Kreiz said in a conference call.

-=Mattel (MAT) reported earnings on Thur 26 Apr 2018 (a/h)

Mattel misses by $0.21, beats on revs 

• Reports Q1 (Mar) loss of $0.60 per share, $0.21 worse than the Capital IQ Consensus of ($0.39); revenues fell 3.7% year/year to $708.4 mln vs the $687.7 mln Capital IQ Consensus.
• Adjusted gross margin declined by 380 basis points, primarily driven by higher product costs as a result of higher materials costs, higher freight and distribution costs, and higher obsolescence, partially offset by favorable mix.
• Net cash flows used for operating activities were approximately $274 million, a decrease of $36 million compared to the prior year's first quarter, primarily driven by lower working capital usage, partially offset by a higher net loss, excluding the impact of non-cash charges.

====Mattel (MAT) : Hasbro (HAS) makes a takeover offer

• A Wall Street Journal report on Friday revealed Hasbro's approach to Mattel, saying terms of a potential deal couldn't be learned. 

=Mattel (MAT) reported earnings on Thur 26 Oct 2017 (a/h)

Mattel misses by $0.49, misses on revs; suspends quarterly dividend 

• Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items, $0.49 worse than the Capital IQ Consensus of $0.58; revenues fell 13.1% year/year to $1.56 bln vs the $1.82 bln Capital IQ Consensus.
  • For the third quarter, net sales in the North American Region decreased by 22% as reported and in constant currency, versus the prior year's third quarter; gross sales in the North American Region also decreased by 22% as reported and in constant currency, primarily driven by lower sales as a result of Toys "R" Us filing for bankruptcy and tighter retailer inventory management. In the International Region, net sales increased by 1% as reported, and decreased by 1% in constant currency; gross sales in the International Region were flat as reported, and decreased by 2% in constant currency.
• "Our Q3 performance was clearly disappointing, led by compression in North America driven by Toys "R" Us filing for bankruptcy, tighter retailer inventory management and challenges with certain underperforming brands," said Margo Georgiadis, CEO of Mattel. "Despite these challenges, we are making strong progress against our transformation plan, which we believe will deliver step change revenue growth and profitability. To accelerate progress toward these goals, with our new leadership team in place, we are taking bold steps to simplify our business and right size our cost structure in alignment with our strategy. This will enable us to move faster to realize our most attractive opportunities as well as to unlock significant resources to invest in our transformation. We are optimistic about the future of Mattel and our ability to reposition the company to drive enhanced returns for shareholders."
• The Board of Directors determined to suspend the Company's quarterly dividend beginning in the fourth quarter of 2017 in order to increase financial flexibility, strengthen the balance sheet and facilitate strategic investments. The suspension of the quarterly dividend, which was previously $0.15 per share, is expected to result in additional liquidity of approximately $50 million per quarter. 

====Mattel (MAT) reported earnings on Wed 19 Oct 2016 (a/h)

Mattel misses by $0.01, beats on revs  :

• Reports Q3 (Sep) earnings of $0.70 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.71; revenues rose 0.2% year/year to $1.8 bln vs the $1.76 bln Capital IQ Consensus.
  • For the third quarter, worldwide gross sales for Mattel Girls & Boys Brands were $1.06 bln, down 5% as reported, and down 4% in constant currency, versus the prior year.
  • Third quarter worldwide gross sales for Fisher-Price Brands, which includes the Fisher-Price Core, Fisher-Price Friends and Power Wheels brands, were $661.5 mln, up 6% as reported, and up 8% in constant currency, versus the prior year.
  • Third quarter gross sales for American Girl Brands, which offers American Girl-branded products directly to consumers, were $125.5 mln, up 14% as reported, and up 15% in constant currency, versus the prior year.
  • Third quarter gross sales for Construction and Arts & Crafts Brands, which includes the MEGA BLOKS and RoseArt brands, were $118.6 mln, flat as reported, and up 6% in constant currency, versus the prior year.
• "Our core brands continue to show improved strength and vibrancy, contributing to very encouraging and broad-based top-line momentum. And we continued to manage costs effectively, while making important investments in brand building, commercial excellence and emerging market expansion. Overall, our strategies are generating good progress on many fronts, and while we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook."

Mattel (MAT) reported earnings on Wed 20 Apr 16 (a/h)

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Mattel misses by $0.05, reports revs in-line :

• Reports Q1 (Mar) loss of $0.13 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of ($0.08); revenues fell 5.8% year/year to $869.4 mln vs the $861.43 mln Capital IQ Consensus. 
• Fisher-Price worldwide gross sales up 9% in constant currency, and 3% as reported; Hot Wheels worldwide gross sales up 11% in constant currency, and 4% as reported; Barbie worldwide gross sales flat in constant currency, and down 3% as reported. First quarter gross sales in the North American Region, which consists of the United States, Canada and American Girl, decreased by 1% in constant currency, and 2% as reported.
• Q2 Outlook from slide presentation: Sales Growth: Relatively flat in constant currency. Similar year-over-year growth profile to Q1. Gross Margin: Roughly flat to Q1.
• FY16 Outlook: Goal is to hold net sales relatively flat in constant currency. Co expects a more challenging first half. Gross Margin: Almost 50% (similar to last year).
• "While we continue to manage the ongoing impact of foreign exchange, our performance is in line with our expectations, and we remain on track to deliver on our outlook for the year.""

Mattel (MAT) reported earnings on 1 Feb 16 (a/h)

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Mattel (MAT) reported earnings on Thu 15 Oct 2015 (a/h)

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Mattel (MAT) had earnings on Tue 17 July 2012

Mattel Inc. (MAT) reported second quarter EPS of $0.28 Tuesday morning, up from $0.23 in the prior year period. The consensus estimate was for EPS of $0.21. Mattel has gapped open sharply higher Tuesday and is now up 3 points at $34.04. The stock has broken out to a 2 1/2 month high and has re-crossed its 50-day moving average.

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