TVKIDS
Mattel reported operating income of $158 million for the fourth quarter, an improvement of $18 million, with full-year operating income at $694 million, a $133 million gain.
Ynon Kreiz, chairman and CEO of Mattel, said: “2024 was a year of strong operational excellence for Mattel with topline growth in the fourth quarter. Our priorities for the year were to grow profitability, expand gross margin, and generate strong free cash flow, and we achieved all three objectives well ahead of expectations. As we progress through 2025, our 80th anniversary year, we look forward to growing both top and bottom line and continuing to successfully execute our multiyear strategy.”
Anthony DiSilvestro, CFO of Mattel, added: “We had a strong fourth quarter with both sales growth and margin expansion. We continued to strengthen our balance sheet, repurchased $400 million of shares in 2024, further improved our leverage ratio and are tracking ahead of schedule to achieve our $200 million cost savings target by the end of 2026. Mattel’s 2025 guidance includes our expectation to grow top and bottom line, increase investments in digital games and repurchase $600 million of shares. We are well positioned to continue to create long-term shareholder value.”
For the fourth quarter, net sales were up 2 percent as reported, or 3 percent in constant currency, versus the prior year’s fourth quarter. For the full year, net sales declined 1 percent as reported and 0.5 percent in constant currency, versus the prior year.
In Q4, gross billings in the North America segment increased 1 percent as reported and in constant currency, due to growth in vehicles (primarily Hot Wheels) and action figures, building sets, games and other (primarily Action Figures), partly offset by declines in infant, toddler and preschool (primarily Baby Gear and Power Wheels) and dolls (primarily Barbie). Gross billings in the international segment increased 3 percent as reported, or 6 percent in constant currency, due to growth in vehicles (primarily Hot Wheels) and infant, toddler and preschool, partly offset by declines in dolls (primarily Barbie).
Mattel’s full-year 2025 forecast includes the anticipated impact of new U.S. tariffs on China, Mexico and Canada imports and mitigating actions it plans to take, including leveraging the strength of its supply chain and potential pricing.
