10-K · February 23, 2026
Mattel frames a shift to a brand‑centric, IP‑driven strategy emphasizing breakthrough product innovation, expanded content (film/TV), scaled digital play via Mattel163, and operational optimization using AI. Fiscal 2025…
Earnings analysis · 10-Q
MAT earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Mattel's Q1 2026 results showed a 4% increase in net sales to $862.2 million, surpassing analyst expectations while EPS improved to a loss of $0.20, better than the forecasted loss of $0.21. Although the company…
Read full summary
Mattel's Q1 2026 results showed a 4% increase in net sales to $862.2 million, surpassing analyst expectations while EPS improved to a loss of $0.20, better than the forecasted loss of $0.21. Although the company experienced margin pressure, the performance was buoyed by strong sales in the Vehicles and Action Figures segments, while Dolls and Infant categories faced declines.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.2
- Segment
- North America: $475.1M; International: $387.0M
What stood out
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Net Sales Exceeded Estimates
Mattel reported net sales of $862.2 million, beating estimates by $54 million.
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Improved EPS Performance
The company reported an EPS loss of $0.20, outperforming estimates of a loss of $0.21.
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Strong International Growth
International segment net sales increased by 15% to $387 million, benefiting from higher Vehicles and Action Figures sales.
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Acquisition Impact
Registered a gain of $147.9 million from acquiring Mattel163, enhancing digital game offerings.
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Active Cost Savings Program
Cost optimization efforts resulted in realized cumulative savings of approximately $189 million.
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Robust Cash Reserves
Cash and equivalents were $866 million, providing solid liquidity.
What to watch
-
Declining Gross Margin
Gross margin dropped to 44.9% from 49.4% due to increased costs from tariffs and inflation.
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Increased Operating Loss
Operating loss worsened to $102.7 million, reflecting higher costs and lower margins.
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Challenge in Doll Segment
Dolls revenue fell 8%, significantly impacted by a decline in Barbie sales.
Management's outlook
Guidance for 2026 remains unchanged; management continues to monitor geopolitical and macroeconomic factors.
Earlier filings 4
10-Q · July 30, 2024
Mattel reported Q2 net sales of $1,079,728,000, essentially flat versus prior-year quarter (prior-year $1,087,164,000) while delivering materially higher gross profit of $530,736,000 and turning higher operating income…
10-Q · April 30, 2024
Mattel reported Q1 net sales of $809.508M, down $5.071M (0.6%) versus prior-year quarter, but delivered materially higher gross profit of $388.870M (gross margin ~48.04%) and narrowed operating loss to $(35.518)M from…
10-Q · November 9, 2023
Mattel reported Q3 net sales of $1,918,788 (in thousands), up from $1,755,780 a year ago, with gross profit rising to $977,934 and operating income increasing to $473,858. Despite operating improvement, net income fell…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.