Mattel missed on overall revenues and earnings in their first-quarter report. The toy maker also notes that international sales are down 11% but that is has 'ample liquidity'. Myles Udland shares the numbers on Yahoo Finance Live.
Mattel Inc. shares fell more than 9% in the extended session Tuesday after the toy maker reported a wider-than-expected quarterly loss and sales that missed expectations. Mattel said it lost $211 million, or 61 cents a share, in the first quarter, compared with a loss of $176 million, or 51 cents a share, in the year-ago period. Sales fell 14% to $594 million, from $689 million a year ago. Analysts polled by FactSet had expected a GAAP loss of 42 cents a share on sales of $653 million. Mattel withdrew its 2020 guidance "due to uncertainty related to COVID-19," it said. Sales in North America fell 17%, mostly pinned to a decline in sales of toys geared to younger children, such as Fisher-Price and Thomas & Friends. That was partly offset by sales growth of its Uno and Pictionary games as well as dolls including Barbie. Mattel said it expects its global manufacturing and distribution capacity largely restored and able to meet product demand for the second half of the year. "We are planning for increased demand for our products in expectation of a much-improved second half and holiday season," Mattel said. The toy maker said it expects its liquidity, which includes $1.6 billion in revolving credit facilities, to be "sufficient to effectively manage through COVID-19 disruption and to continue to execute strategy." Shares of Mattel had ended the regular trading day up 0.3%.
Kaskela Law LLC is investigating Mattel, Inc. ("Mattel" or the "Company") (NASDAQ: MAT) on behalf of the Company's stockholders.
Shares of toymaker Mattel (NASDAQ: MAT) leapt more than 5% in early trading Friday on no obvious news directly relating to the company. As of 12:10 p.m. EDT, Mattel shares have retracted to a still-respectable 3.2% gain in afternoon trading. Absent news directly relating to Mattel, what could explain this optimism about a toymaker that -- let's be blunt here -- hasn't earned a full-year GAAP profit in more than three years and just missed on earnings again when reporting another loss earlier this week?
Mattel (NASDAQ: MAT), the U.S. toy manufacturer of beloved brands Barbie, Hot Wheels, Fisher-Price and more, saw a 14% decline in sales in the first quarter of 2020 that ended in March. Mattel had been getting back to speed with revamped operations in recent quarters after seeing declining sales, and the company is optimistic about the future despite the downturn. "We remain focused on transforming Mattel into an IP-driven, high-performing toy company and creating long-term shareholder value."
The toymaker said its global manufacturing and distribution facilities, including in China where it produces 60% of its products, were largely back to operating at full capacity, echoing rival Hasbro Inc's
Mattel, Inc. (NASDAQ: MAT) announced today the expansion of ThankYouHeroes, a collection of toys designed to honor the individuals leading the fight against COVID-19 as well as the everyday heroes who are working to keep communities up and running. The expanded collection, which is part of the Company’s broader Play it Forward platform focused on leveraging Mattel brands to give back to communities in times of need, includes new items from Matchbox, Mega Construx and UNO. All net proceeds from the line will go to FirstRespondersFirst, an initiative created to support first responder healthcare workers as they serve on the frontlines of the COVID-19 pandemic.*
Activision Blizzard rose 6.8% after raising its revenue forecast on higher demand for video games such as its "Call of Duty" amid lockdowns. Walt Disney Co also inched higher even as it estimated that global measures to contain the coronavirus had cut its profits by $1.4 billion, mostly from its shuttered theme parks.
Mattel (MAT) first-quarter results hurt by dismal performance of Dolls, Infant, Toddler and Preschool and Action Figures, Building Sets and Games.
(MAT) stock was down 9.3% in early trading Wednesday, after the company posted a larger quarterly loss and sales decline than analysts expected. The toy maker also withdrew its guidance for the year, thanks to uncertainty around the potential effects of the coronavirus pandemic. The company posted an adjusted loss of 56 cents per share, larger than the per-share loss of 41 cents that analysts had estimated.
Shares of Mattel (NASDAQ: MAT) were gaining today, in tandem with a rotation in the market that was favoring beaten-down cyclical stocks like the struggling toy maker and selling high-growth tech stocks that had recently hit all-time highs. There was no specific news out on Mattel today; however, the stock was gaining as investors respond to the economy reopening, with nonessential retailers opening their doors again and stay-at-home orders mostly coming to an end. As the toy maker, known for brands like Barbie, Fisher-Price and Hot Wheels, is mostly dependent and brick-and-mortar stores to sell its wares, the company has suffered during the shutdowns with sales falling 14% in the first quarter.
For his third "Executive Decision" segment of Mad Money Wednesday night, Jim Cramer checked in with Ynon Kreiz, chairman and CEO of toymaker Mattel , which announced a wider-than-expected 56-cents-a-share earnings miss. Kreiz explained that Mattel started the year with strong sales, but saw sharp declines beginning in March. Kreiz added that online sales continue to grow strongly.
Mattel slides after the toymaker reports a wider-than-expected quarterly loss and sales that miss expectations.
Mattel, Inc. (NASDAQ: MAT) today reported first quarter 2020 financial results.
Mattel (NASDAQ: MAT) announced today that Barbie will donate a doll for each eligible career doll sold from May 14-May 17 to the First Responders Children’s Foundation, benefiting the children of first responders leading the fight against COVID-19. The Barbie ThankYouHeroes program is the second program launching as part of Mattel’s broader "Play it Forward" platform, which focuses on leveraging Mattel brands to give back to communities in times of need.
MKM Partners analyst Eric Handler maintained a Hold rating on Mattel (NASDAQ:MAT) on Monday, setting a price target of $9, which is approximately 12.36% above the present share price of $8.01.
After plunging to 2016-lows in March as the sweeping lockdown measures crushed supply chains and consumer demand, the benchmark S&P 500 rebounded strongly in April on unprecedented stimulus and signs the outbreak was peaking. "For now, markets appear to be pricing in the prospect that economic activity can improve from here on in, and while that may well be true, we still don't know the extent of the economic damage that has been done already," said Michael Hewson, chief market analyst at CMC Markets UK. The ADP National Employment Report is expected to provide another glimpse of the hit to the labor market later on Wednesday, followed by the Labor Department's more comprehensive nonfarm payrolls data due Friday.
Shares of Mattel (NASDAQ: MAT) plunged nearly 12% in early-morning trading Wednesday after its report of fiscal Q1 2020 financial results Tuesday night. Mattel's quarterly sales -- $594.1 million -- fell short of analysts' projected $652.7 million. Sales declined 14% year over year at Mattel.
MAT earnings call for the period ending March 31, 2020.
Q1 2020 Mattel Inc Earnings Call