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Shanthi Rexaline

Mattel Beats Expectations With Q2 Earnings Despite Decline In Sales

Mattel MAT Linda Bolton Weiser Barbie Mattel, Inc.

Mattel Inc. offices are seen in 2009 in California. Mattel ended the quarter with a double-digit decline in retail inventory reduction in dollar terms and a high-single-digit decline in weeks of supply. DAVID MCNEW/GETTY IMAGES.

Toymaker Mattel, Inc. (NASDAQ:MAT) reported better than expected second quarter results, with adjusted earnings per share of $0.10, beating estimates, despite a 12% decline in net sales to $1.09 billion year-over-year. The company’s 2023 guidance of $1.10-$1.20 per share aligns with market expectations.

The Mattel Analyst: DA Davidson analyst Linda Bolton Weiser maintained a Buy rating on Mattel shares and nudged up the price target from $23 to $25.

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