Mattel (MAT) Q1 2026 Earnings Call Transcript
Mattel reported Q1 2026 net sales of $862 million, a 4% increase, and gross billings growth of 2% in constant currency. The company posted an adjusted operating loss of $70 million and adjusted EPS loss of $0.20.
Mattel reported its Q1 2026 earnings, with net sales reaching $862 million, a 4% increase as reported and a 1% rise in constant currency. Gross billings increased 2% in constant currency, driven by mid-single-digit growth in global POS. The company's adjusted gross margin declined to 45.1% due to tariffs, unfavorable foreign exchange, and inflation. Mattel's Vehicles Category delivered 13% growth, while the Dolls Segment fell 11%. The company repurchased $200 million in shares during the quarter and has $866 million in cash balance. Mattel expects 3%-6% net sales growth in constant currency for the full year 2026 and adjusted operating income between $580 million and $630 million.
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