The earnings call highlights strong international growth and operational excellence in margin management. However, these are offset by declines in net sales, particularly in the Dolls and Infant, Toddler, and Preschool segments, and challenges arising from global trade dynamics and tariffs.

Company Guidance -

Q3 2025

During Mattel's Second Quarter 2025 Earnings Conference Call, the company provided guidance for the rest of the year, highlighting several key metrics. Net sales are expected to grow by 1% to 3% in constant currency, with an adjusted gross margin of approximately 50%. Adjusted operating income is projected to be between $700 million and $750 million, and adjusted earnings per share (EPS) is anticipated to range from $1.54 to $1.66. Mattel expects to generate roughly $500 million in free cash flow for the full year, a reduction from prior guidance of $600 million, primarily due to the timing of working capital related to tariff implementations. Despite a 6% decline in net sales during the second quarter, adjusted gross margin increased by 200 basis points to 51.2%, and adjusted EPS remained stable at $0.19. The company emphasized its strong international growth and improved adjusted gross margin, while acknowledging the impact of global trade dynamics on its U.S. business.

International Growth

Mattel achieved strong international growth with an increase of 9% in gross billings across regions, including EMEA at 8%, Latin America at 5%, and Asia Pacific at 16%.

Adjusted Gross Margin Expansion

Adjusted gross margin increased by 200 basis points to 51.2%, reflecting disciplined cost management and operational excellence.

Vehicles Segment Performance

Vehicles segment showed exceptional performance with a 10% increase in gross billings and a 9% increase for Hot Wheels, indicating high consumer demand.

Entertainment Strategy and Collaborations

Mattel announced a strategic collaboration with OpenAI and is advancing its entertainment strategy, including the establishment of Mattel Studios and upcoming film releases.

Mattel (MAT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.10 / -	1.14	―	―	―
Jul 23, 2025	2025 (Q2)	0.18 / 0.19	0.19	0.00% (0.00)
May 05, 2025	2025 (Q1)	-0.10 / -0.03	-0.05	40.00% (+0.02)
Feb 04, 2025	2024 (Q4)	0.20 / 0.35	0.29	20.69% (+0.06)
Oct 23, 2024	2024 (Q3)	0.95 / 1.14	1.08	5.56% (+0.06)
Jul 23, 2024	2024 (Q2)	0.17 / 0.19	0.1	90.00% (+0.09)
Apr 23, 2024	2024 (Q1)	-0.13 / -0.05	-0.24	79.17% (+0.19)
Feb 07, 2024	2023 (Q4)	0.31 / 0.29	0.18	61.11% (+0.11)
Oct 25, 2023	2023 (Q3)	0.86 / 1.08	0.82	31.71% (+0.26)
Jul 26, 2023	2023 (Q2)	-0.03 / 0.10	0.18	-44.44% (-0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$20.20	$16.89	-16.39%
May 05, 2025	$16.20	$16.65	+2.78%
Feb 04, 2025	$18.07	$20.84	+15.33%
Oct 23, 2024	$17.78	$18.57	+4.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.