Mattel (MAT) Tops Q3 EPS by 7c; Lowers FY EPS Guidance
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Mattel Reports Third Quarter 2022 Financial Results
October 25, 2022 4:05 PM EDTThird Quarter 2022 Highlights Versus Prior Year
Net Sales of $1,756 million, flat as reported, and up 3% in constant currency Gross Margin of 48.2%, an increase of 40 basis points; Adjusted Gross Margin of 48.3%, an increase of 50 basis points Operating Income of $391 million, up 1%, an increase of $2 million; Adjusted Operating Income of $398 million, down 1%, a decrease of $3 million Net Income of $290 million compared to $795 million; prior year included a non-cash benefit of $492 million resulting from the release of valuation allowances on deferred tax assets EPS of $0.80 compared to $2.24 per share; Adjusted EPS of $0.82... More