MATTEL INC /DE/ (MAT) Company Report

Mattel, Inc. issued $600,000,000 aggregate principal amount of 5.000% Senior Notes due 2030 on November 17, 2025.
The Notes will mature on November 17, 2030, and pay interest semi-annually on May 17 and November 17, with the first interest payment scheduled for May 17, 2026.
The Notes are senior unsecured obligations, ranking pari passu with existing and future senior indebtedness, senior to any future subordinated indebtedness, structurally subordinated to liabilities of subsidiaries, and effectively subordinated to secured indebtedness.
The issuance price for the Notes was 99.707% of the principal amount.

6 days ago

8-K

Mattel, Inc. Prices Senior Notes Offering

MAT

Debt Issuance

Mattel, Inc. announced the pricing of an underwritten public offering of $600,000,000 aggregate principal amount of 5.000% Senior Notes due 2030.
The offering is expected to close on or about November 17, 2025, with the Notes maturing on November 17, 2030.
The company intends to use the net proceeds, along with cash on hand, to redeem all of its outstanding 3.375% Senior Notes due 2026.

Nov 6, 2025, 9:21 PM

8-K

Mattel Reports Q3 2025 Sales and Profit Decline

MAT

Earnings

Guidance Update

Demand Weakening

Mattel reported a 6% decline in global sales to $1.74 billion in Q3 2025, missing Wall Street expectations, primarily due to sluggish retail demand and shifts in retailer ordering patterns in North America.
The company's adjusted earnings per share of $0.89 fell short of analyst estimates, with net income decreasing to $278.4 million, or $0.88 per share, from $372.4 million, or $1.09 per share, in the previous year.
The North America segment experienced an 11.7% sales decline, and the adjusted gross margin declined to 50.2% from 53.1% due to inflation and tariff costs.
Despite these setbacks, CEO Ynon Kreiz reiterated a full-year revenue growth forecast of 1% to 3% for fiscal year 2025, anticipating a strong holiday season.

Oct 21, 2025, 9:58 PM

Bloomberg

Mattel Reports Q3 2025 Results

MAT

Earnings

Demand Weakening

Guidance Update

Mattel reported a 6% decline in net sales to $1.74 billion and missed analyst expectations for adjusted earnings per share in Q3 2025, primarily due to a 12% sales drop in North America influenced by retailer ordering changes and tariff uncertainties.
The company's stock price dropped 6.5% to $17.55 in after-hours trading following the earnings release.
Gross margin declined to 50.0% due to unfavorable foreign exchange rates, inflation, tariff costs, and higher sales adjustments.
Despite the Q3 challenges, Mattel expressed optimism for a strong fourth quarter, citing a significant increase in U.S. retailer orders and robust consumer demand ahead of the holiday season.

Oct 21, 2025, 9:54 PM

Bloomberg

Mattel Reports Q3 2025 Results, Reiterates Full-Year Guidance

MAT

Earnings

Guidance Update

Share Buyback

Mattel's Q3 2025 net sales decreased 6% as reported and 7% in constant currency to $1.74 billion, with adjusted earnings per share (EPS) declining $0.25 to $0.89. This was primarily due to U.S. retailers shifting orders from direct import to domestic shipping, which moved sales into the fourth quarter.
Despite these shifts, consumer demand (POS) for Mattel's products increased across all regions, including the U.S., indicating healthy underlying demand. Retailer orders in the U.S. have accelerated significantly since the beginning of Q4.
The company reiterated its full-year 2025 guidance, projecting net sales growth of 1% to 3% in constant currency, adjusted operating income of $700 million to $750 million, and adjusted EPS in the range of $1.54 to $1.66. This guidance anticipates strong top-line growth in the fourth quarter.
Mattel repurchased $2 million of shares in Q3 2025, bringing the year-to-date total to $412 million, and remains on track to repurchase $600 million for the full year.
Key strategic developments include being awarded global licensing rights for K Pop Demon Hunters products and renewing the multiyear licensing agreement for the Disney Princess and Frozen franchises, strengthening its position as a partner of choice for entertainment companies.

Oct 21, 2025, 9:00 PM

Transcript

Mattel Reports Q3 2025 Financial Results

MAT

Earnings

Guidance Update

Share Buyback

Mattel reported Net Sales of $1,736 million in Q3 2025, a 6% decrease as reported, and 7% in constant currency compared to the prior year, primarily due to a 12% decrease in North America.
Net Income decreased by $94 million to $278 million, and Earnings per Share were $0.88 compared to $1.09 in the prior year's third quarter.
The company repurchased $202 million of shares in Q3 2025, bringing the year-to-date total to $412 million, and reaffirmed its 2025 share repurchase target of $600 million.
Mattel reiterated its full-year 2025 guidance, including Net Sales growth of 1% to 3% in constant currency, Adjusted Operating Income of $700 - $750 million, and Adjusted EPS of $1.54 - $1.66.

Oct 21, 2025, 8:10 PM

8-K

Mattel Reports Third Quarter 2025 Financial Results

MAT

Earnings

Guidance Update

Share Buyback

Mattel reported Net Sales of $1,736 million for the third quarter of 2025, a 6% decrease as reported and 7% in constant currency compared to the prior year.
Gross Margin decreased to 50.0% (a 310 basis point decrease), and Adjusted Gross Margin was 50.2% (a 290 basis point decrease) in Q3 2025.
Net Income for Q3 2025 was $278 million, with Adjusted Earnings per Share at $0.89.
The company repurchased $202 million of shares during the quarter, bringing the year-to-date total to $412 million, and reaffirmed its 2025 share repurchase target of $600 million.
Mattel reiterated its full-year 2025 guidance, projecting Net Sales growth of +1% to 3% in constant currency, Adjusted Operating Income between $700 million and $750 million, and Adjusted EPS of $1.54 to $1.66.

Oct 21, 2025, 8:05 PM

Press Release

KPIT Technologies Acquires N-Dream, Developer of Mattel-Licensed AirConsole Platform

MAT

M&A

New Projects/Investments

KPIT Technologies has acquired a majority stake in N-Dream AG, the company behind the AirConsole in-car gaming platform, increasing its ownership from 26% to nearly 90%.
AirConsole's platform, which is used in vehicles from brands like BMW and Volkswagen, features licensed intellectual properties from Mattel, Inc., including UNO™ Car Party!.
N-Dream will continue to operate as an independent entity within the KPIT Group, with its current leadership remaining in place, and plans to expand its offerings beyond gaming to new in-cabin software experiences.

Oct 15, 2025, 11:07 AM

Press Release

Mattel Reports Q2 2025 Results and Resumes Full-Year Guidance

MAT

Earnings

Guidance Update

Share Buyback

Mattel's net sales declined 6% as reported and in constant currency in Q2 2025, while adjusted gross margin increased by 200 basis points to 51.2% and adjusted earnings per share remained flat at $0.19 compared to the prior year.
The U.S. business was impacted by global trade dynamics and shifts in retailer ordering patterns, but international gross billings increased 9% and POS was up in all regions.
The company resumed guidance for full year 2025, expecting net sales to grow 1% to 3% in constant currency, adjusted gross margin to be approximately 50%, adjusted operating income between $700 million and $750 million, and adjusted EPS between $1.54 and $1.66.
Mattel is targeting $600 million in share repurchases for the full year 2025 and has repurchased $210 million year-to-date.
Strategic initiatives include a collaboration with OpenAI and the formation of Mattel Studios to scale its film and television pipeline, with plans for one to two films per year starting in 2026.

Jul 24, 2025, 7:45 AM

Mattel partners with OpenAI on AI toy innovation

MAT

New Projects/Investments

Product Launch

Mattel entered a strategic partnership with OpenAI to develop AI-powered products and interactive experiences based on brands such as Barbie, Hot Wheels, and Uno.
First AI-driven product expected later this year, potentially including digital assistants modeled after Mattel characters and interactive versions of classic toys.
Mattel will retain full control over its intellectual property and is not licensing it to OpenAI under this agreement.
The collaboration also includes adoption of ChatGPT Enterprise to enhance creativity and innovation, reflecting Mattel’s broader strategy to evolve into a diversified entertainment company; discussions began in late 2024.

Jun 12, 2025, 10:31 AM

Bloomberg

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