NASDAQ$MAT
Mattel Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Mattel's financial performance was impacted by retail inventory management in the first quarter of 2023, with net sales decreasing by 22% and operating loss reported at $115 million.
Mattel reported a decrease in net sales by 22% to $815 million for Q1 2023, with an operating loss of $115 million. The company's performance was affected by retail inventory management, though the underlying business fundamentals remain strong. Mattel expects to outpace the industry and achieve its full-year guidance, with continued share repurchases reflecting confidence in its strategy.
- Net sales decreased by 22% as reported, or 21% in constant currency, versus the prior year.
- Reported Operating Loss was $115 million, a decrease of $195 million, and Adjusted Operating Loss was $87 million, a decrease of $177 million.
- Gross Margin decreased to 40.0%, versus 46.4% in the prior year, and Adjusted Gross Margin decreased to 40.0%, versus 46.6%.
- Company reiterates 2023 guidance.
Headline financials
Revenue & EPS history
Mattel · Revenue · Quarterly
$815M
Revenue by segment
Mattel · $781M total across 2 segments · Q1 2023
- North America Net Sales$437M-27.4%55.9%
- International Net Sales$344M-14.8%44.1%
Forward guidance
Mattel’s full year 2023 guidance remains:
Tailwinds
- Net Sales Comparable (Constant Currency) $5,435 million
- Adjusted Gross Margin ~ 47%
- Adjusted EPS $1.10 - $1.20
- Adjusted EBITDA $900 - $950 million
- Free Cash Flow > $400 million
Headwinds
- The company is operating in a challenging macro-economic environment with higher volatility, including inflation, that may impact consumer demand.
- Mattel’s guidance takes into account what the company is aware of today but remains subject to further volatility and any unexpected disruption
- Fluctuations in foreign exchange rates
- Changes in global economic conditions and consumer demand
- Labor market fluctuations, and other macro-economic risks and uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.5%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+0.3%
Avg return
30 days after
58%
42 / 73 earnings
Positive
+21.9%
Q4 2018
Best reaction
-25.0%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -1.1% | +0.3% | |
| Q4 2025 | -25.0% | -21.8% | -23.7% | |
| Q3 2025 | -2.8% | +1.2% | +5.4% | |
| Q2 2025 | -0.5% | -3.2% | -3.0% | |
| Q1 2025 | -0.6% | +0.8% | +20.5% | |
| Q4 2024 | +15.3% | +17.9% | +16.2% | |
| Q3 2024 | +2.5% | +8.9% | +3.2% | |
| Q2 2024 | +1.3% | +2.6% | +2.9% | |
| Q1 2024 | +3.0% | -1.4% | -5.9% | |
| Q4 2023 | +1.9% | +3.5% | +6.9% | |
| Q3 2023 | -8.1% | -7.1% | -7.1% | |
| Q2 2023 | +0.3% | +0.6% | +3.3% | |
| Q1 2023 | +7.4% | +5.2% | +6.9% | |
| Q4 2022 | -11.8% | -11.1% | -19.5% | |
| Q3 2022 | -2.3% | -5.1% | -8.0% | |
| Q2 2022 | -4.5% | -6.5% | +3.0% | |
| Q1 2022 | +11.6% | +11.8% | +11.8% | |
| Q4 2021 | +11.8% | +10.5% | +3.3% | |
| Q3 2021 | +2.9% | +3.3% | +13.9% | |
| Q2 2021 | +3.6% | +4.5% | +4.7% | |
| Q1 2021 | +1.0% | +4.6% | -3.5% | |
| Q4 2020 | +0.1% | +1.4% | +13.8% | |
| Q3 2020 | +13.7% | +14.6% | +20.8% | |
| Q2 2020 | -0.2% | -0.4% | -1.9% | |
| Q1 2020 | -1.0% | +2.8% | +18.1% | |
| Q4 2019 | -3.9% | -8.3% | -43.1% | |
| Q3 2019 | +16.7% | +15.4% | +14.7% | |
| Q2 2019 | +13.5% | +15.9% | -24.4% | |
| Q1 2019 | -3.2% | -2.8% | -12.8% | |
| Q4 2018 | +21.9% | +31.9% | +16.0% | |
| Q3 2018 | +0.1% | +2.6% | +0.0% | |
| Q2 2018 | -5.3% | -5.6% | -6.6% | |
| Q1 2018 | +5.1% | +4.3% | +13.0% | |
| Q4 2017 | +4.4% | +6.4% | +4.6% | |
| Q3 2017 | -9.4% | -8.6% | +19.8% | |
| Q2 2017 | -6.1% | -5.7% | -21.3% | |
| Q1 2017 | -13.2% | -11.9% | -11.8% | |
| Q4 2016 | -16.7% | -15.6% | -17.4% | |
| Q3 2016 | +5.7% | +7.7% | -0.6% | |
| Q2 2016 | +1.1% | +1.3% | +1.5% | |
| Q1 2016 | -8.2% | — | — | |
| Q4 2015 | +10.4% | — | — | |
| Q3 2015 | +6.1% | — | — | |
| Q2 2015 | -5.0% | — | — | |
| Q1 2015 | +5.4% | — | — | |
| Q4 2014 | +3.8% | — | — | |
| Q3 2014 | -5.8% | — | — | |
| Q2 2014 | -7.3% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | -16.2% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | -5.9% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q3 2012 | +5.6% | — | — | |
| Q2 2012 | +10.3% | — | — | |
| Q1 2012 | -6.8% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | +4.4% | — | — | |
| Q2 2011 | -0.7% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q4 2010 | +0.2% | — | — | |
| Q3 2010 | -0.7% | — | — | |
| Q2 2010 | -1.1% | — | — | |
| Q1 2009 | +1.6% | — | — | |
| Q1 2010 | -2.2% | — | — | |
| Q4 2007 | +1.3% | — | — | |
| Q4 2009 | +1.3% | — | — | |
| Q3 2008 | -0.3% | — | — | |
| Q3 2009 | -0.3% | — | — | |
| Q4 2008 | +1.8% | — | — | |
| Q2 2008 | +1.8% | — | — | |
| Q2 2009 | +1.8% | — | — |
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