Mattel Inc. Q3 Adjusted Earnings Beat Estimates

Mattel Inc. (MAT) reported a profit for its third quarter that advanced from the same period last year

The company's earnings came in at $812.6 million, or $2.29 per share. This compares with $311.3 million, or $0.89 per share, in last year's third quarter. On an adjusted basis, the earnings declined to $0.84 per share from $0.95 per share in the last quarter.

Analysts had expected the company to earn $0.72per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.3% to $1.76 billion from $1.64 billion last year.

Mattel has also revised its yearly guidance. The company improved its revenue growth expectation from 12% to 14% to approximately 15% at $4.58 billion. The forecast for adjusted earnings before taxes and depreciation was also improved to $900 million to $925 million, from $875 million to $900 million in the previous outlook. Mattel has kept its capital expenditure guidance unchanged at $150 million to $175 million. Analyst forecast for revenue for full-year is $5.23 billion

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teleflex Inc., a provider of medical technologies for critical care and surgery, is recalling Arrow-Trerotola Over-The-Wire PTD Kit Percutaneous Thrombolytic Device: 7FR, the U.S. Food and Drug Administration said. The Arrow-Trerotola Percutaneous Thrombolytic Device or PTD Catheter, in conjunction with the Arrow Rotator Drive Unit, permits mechanical declotting of native arterio-venous or AV... Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated..
Follow RTT