Mattel Accelerates Wall Street’s Q2 Forecasts Same-Day ‘Barbie’ Shoots Completed

Mattel’s second-quarter results beat Wall Street analysts’ expectations and challenged a number of negative trends in the global economy.

Revenue grew 20% year over year to $1,236 billion. Earnings per share increased to 18 cents on an adjusted basis, a large improvement from 3 cents in the previous quarter. Analyst consensus calls for revenue of $1.1 billion and earnings of 6 cents per share.

This was Mattel’s eighth consecutive quarter revenue growth. The company reiterated its 2022 guidance and 2023 targets for revenue, earnings per share and adjusted EBITDA.

Mattel shares closed the day up 3% at $24.17.

Sales in North America increased 30% compared to 12% in the international division.

CEO Inon Craze, former president of Maker Studios, Endemol and Fox Kids Europe, led Mattel’s transformation with a focus on entertainment features. Warner Bros.’s new live-action movie, Barbie, completed principal photography today and will hit theaters in July 2023.

“We’re not immune to issues like supply chain, currency volatility or inflation,” Craze told Deadline in an interview, “but we can work with them and still get that result.”

When asked about reports in the financial press in April that Mattel is in talks with private equity firms about the possible acquisition of some or all of the company, Craze replied, “We don’t comment on speculation… growth.”

Wanting to bring features such as Hot Wheels, Masters of the Universe and others to different platforms, Mattel worked with partners. As for the importance of having a theatrical release of a Mattel-sponsored movie, Craze said, “You don’t have the same marketing and broadcast impact as a big movie without a significant special theatrical release,” but it does. Consistent home monitoring success is also important. From where we sit, we see potential on both sides of the equation. “