Mattel Speeds Past Wall Street’s Q2 Estimates On Same Day ‘Barbie’ Wraps Shooting

deadline.com:

Mattel delivered second-quarter results above Wall Street analysts’ expectations, overcoming a number of adverse trends in the global economy.Revenue rose 20% from a year ago to $1.236 billion.

Earnings per share grew to 18 cents on an adjusted basis, a big improvement from 3 cents in the year-earlier quarter. Analysts’ consensus called for revenue of $1.1 billion and earnings per share of 6 cents.It was the eighth straight quarter of revenue growth for Mattel.

The company reiterated its 2022 guidance for revenue, earnings per share and adjusted EBITDA, as well as its 2023 goalsShares in Mattel closed the trading day at $24.17, up 3%.CEO Ynon Kreiz, the former head of Maker Studios, Endemol and Fox Kids Europe, has been overseeing a transformation of Mattel with an emphasis on its entertainment properties.

Barbie, the forthcoming Warner Bros live-action film, wrapped principal photography today, he noted, and will be released in July 2023.“It’s not that we’re immune” to issues such as supply-chain snags, foreign currency gyrations or inflation, Kreiz told Deadline in an interview, “but we’re able to work with them and still deliver this result.”such a great castso much legacy and heritage12 specials to be released into the marketMonster High – animated series, live-action movie on NickelodeonMasters of the UniverseAsked about reports in April in the financial press that Mattel has held talks with private equity firms about a potential acquisition of some or all of the company, Kreiz replied, “We have not commented on speculation … The company is in growth mode.”As it has looked to exploit properties like Hot Wheels, Masters of the Universe and others across various platforms, Mattel has worked with a range of partners.