Mattel stated internet revenue of $141 million dipped by $6 million on income that nosed up 2% to $1.65 billion, beating estimates for the quarter and providing a better than anticipated full-year forecast that pushed the inventory greater.
Home gross sales had been pushed by Scorching Wheels, motion figures, constructing units and video games, partly offset by declines in Toddler, Toddler, and Preschool (primarily Child Gear & Energy Wheels) and dolls, primarily Barbie.
Barbie gross sales additionally dipped abroad, offset by Scorching Wheels and Toddler, Toddler, and Preschool traces.
Scorching Wheels and motion figures will proceed robust in 2025 with Mattel predicting 2% to three% income development. The corporate stated that its full-year steerage “consists of the anticipated influence of recent U.S. tariffs on China, Mexico and Canada imports introduced on February 1st, and mitigating actions we plan to take, together with leveraging the energy of our provide chain, and potential pricing.”
President Donald Trump introduced tariffs on the three nations this weekend however delayed the hits to Mexico and Canada by a month. A ten% tariff on Chinese language items went into impact in a single day and China retaliated, placing import taxes on some U.S. items.
CEO Ynon Kreiz referred to as 2024 “a 12 months of robust operational excellence for Mattel with topline development within the fourth quarter. Our priorities for the 12 months had been to develop profitability, develop gross margin, and generate robust free money move and we achieved all three targets, nicely forward of expectations. As we progress by means of 2025, our 80th anniversary 12 months, we stay up for rising each prime and backside line and persevering with to efficiently execute our multi-year technique.”
