Mattel Earnings: MAT Stock Climbs 14% Higher on Q3 Earnings Beat

MAT beat EPS estimates by 10 cents

Mattel (NASDAQ:MAT) earnings for the toy company’s third quarter of 2019 have MAT stock soaring in after-hours trading on Tuesday. This comes on its adjusted EPS and revenue of 26 cents and $1.48 billion. Wall Street was looking for MAT to report per-share earnings of 16 cents on revenue of $1.43 billion for the quarter.

Mattel Earnings: MAT Stock Climbs 14% Higher on Q3 Earnings Beat
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Now let’s take a closer look at the most recent Mattel earnings report.

  • Earnings per share for the quarter are up 44.44% from 18 cents in the third quarter of 2018.
  • Revenue is 2.78% higher YoY from $1.44 billion.
  • Operating income of $150.10 million is 23.13% better than operating income of $121.90 million reported in the same period of the year prior.
  • The Mattel earnings report also has net income coming in at $70.60 million.
  • This is a 1020.64% increase from a net income of $6.30 million in the third quarter of the previous year.

The Mattel earnings report also includes information about a CFO transition plan. Joseph Euteneuer, the current CFO of the company, will be leaving following a six-month transition period. The company is currently searching for a replacement CFO.

Mattel will be holding a conference call at 5:00 p.m. Eastern Time to go over the Q3 results. It will be available on the company’s Investor Relations website as a webcast. Investors are advised to sign in 10 minutes early to access the call.

MAT stock was up 14.11% after the markets closed on Tuesday. The stock closed out the day up 2.52%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/mattel-earnings-bump-mat-stock-up/.

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