Mattel beats by $0.22, beats on revs; raises FY23 EPS outlook, reaffirms FY23 revs guidance (20.11 -0.10)
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Reports Q3 (Sep) earnings of $1.08 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of $0.86; revenues rose 9.3% year/year to $1.92 bln vs the $1.84 bln FactSet Consensus.
- Gross Billings in the North America segment increased 10% as reported and in constant currency, driven by growth in Dolls (including Barbie and Disney Princess and Disney Frozen) and Vehicles (Hot Wheels®), partly offset by declines in Action Figures, Building Sets, Games, and Other (primarily Action Figures), and Infant, Toddler, and Preschool (primarily Thomas & Friends).
- Gross Billings in the International segment increased 9% as reported, or 2% in constant currency. The increase in Gross Billings as reported was driven by growth in Dolls (including Disney Princess and Disney Frozen, Monster High, and Barbie) and Vehicles (primarily Hot Wheels), partly offset by declines in Action Figures, Building Sets, Games, and Other (primarily Action Figures).
- Co issues guidance for FY23, sees EPS of $1.15-$1.25, excluding non-recurring items, (from prior $1.10-$1.20) vs. $1.20 FactSet Consensus; sees FY23 revs of $5.425 bln vs. $5.49 bln FactSet Consensus