Mattel (MAT) Reports Earnings for the Second Quarter of 2024

Wednesday, 24 July 2024, 13:39

In the second quarter of 2024, Mattel, Inc. (NASDAQ: MAT) recorded net sales of $1 billion, which represents a minor decline of 1% year-over-year. However, the company saw a significant increase in net income, more than doubling to $57 million or $0.17 per share. The adjusted earnings per share (EPS) came in at $0.19, indicating a solid performance amidst a challenging sales environment. Overall, while sales experienced a slight dip, the increase in profitability reflects effective cost management and strategic positioning.

AlphaStreet — Mattel (MAT) Reports Earnings for the Second Quarter of 2024

Mattel's Financial Performance Overview

In the second quarter of 2024, Mattel, Inc. (NASDAQ: MAT) faced a 1% decrease in net sales compared to the same period last year.

Key Financial Metrics

Net Sales: $1 billion
Net Income: $57 million
EPS: $0.17
Adjusted EPS: $0.19

Despite the challenges in sales, the company managed to more than double its net income over the year.

Conclusion

Overall, Mattel's earnings report reveals effective cost control strategies which have led to improved profitability amidst a competitive market landscape.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Mattel's Financial Performance Overview

Key Financial Metrics

Conclusion

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