Mattel shares fell over 4% after missing Q3 estimates, with revenue at $1.73B and EPS at 89¢. CEO Ynon Kreiz cited retailer order shifts but expects strong holiday sales as the company reaffirms 2025 guidance.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The tele-share has fell 40.36% to $18 in after-hours trading on Tuesday after missing third-quarter earnings in revenue estimates, according to Benzinga.
00:10This will make a reported adjusted earnings of 89 cents per share, below analyst expectations of $1.07, in revenue of $1.73 billion.
00:18This is the $1.83 billion estimate.
00:20Net sales declined 6% year-over-year, while adjusted operating income dropped $117 million to $387 million.
00:27CEO Jan Kreese said U.S. sales were affected by shifts in retailer ordering, noted that demand remains strong across regions.
00:34He added that retail orders have accelerated in the fourth quarter and expect strong holiday performance.
00:39Tel reaffirmed its 2025 guidance, projecting earnings of $1.54 to $1.66 per share, revenue between $5.43 billion and $5.54 billion.
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