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.
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.