International Growth
Mattel experienced strong international growth, with gross billings increasing 9% across key regions such as EMEA, Latin America, and Asia Pacific.
Adjusted Gross Margin Improvement
Adjusted gross margin increased by 200 basis points to 51.2%, attributed to cost savings, favorable mix, and supply chain efficiencies.
Strong Performance in Vehicles and Action Figures
The Vehicles category saw a 10% increase, driven by Hot Wheels, while Action Figures showed strong results with brands like Jurassic and Minecraft.
Operational Excellence
The company demonstrated operational excellence by maintaining EPS at $0.19 despite a challenging environment.
Strategic Collaboration with OpenAI
Mattel announced a strategic collaboration with OpenAI to leverage new technologies for brand expansion.