Mattel Cuts Full-Year Outlook After Q3 Revenue Miss Under New CEO

Mattel reported third-quarter revenue of $1.81 billion, up about 4% from a year earlier but below analyst expectations, while adjusted earnings of $1.30 per share exceeded forecasts. The company lowered its full-year outlook, projecting adjusted earnings of $1.05 to $1.20 per share, below analysts’ expectations, and shares fell after the announcement. Gross margin improved, helped by tariff refunds, but performance varied across brands: Hot Wheels billings rose while Barbie sales declined and Fisher-Price billings dropped. CEO Roger Lynch, who recently took the role, said Mattel would focus on strengthening its brands, driving innovation and investing more selectively to improve financial performance.