- Revenue: $1.65B, +2% YoY
- Net Income: $140.9M, -4% YoY
- Operating Income: $158.3M, +13% YoY
- EPS: $0.42, flat YoY
CEO Ynon Kreiz: "2024 was a year of strong operational excellence for Mattel with topline growth in the fourth quarter. Our priorities for the year were to grow profitability, expand gross margin, and generate strong free cash flow and we achieved all three objectives, well ahead of expectations."
🌱Revenue & Growth
- North America: $975.5M, +1% YoY
- International: $670.9M, +3% YoY
- Hot Wheels: $481.4M, +15% YoY
- Barbie: $406M, -14% YoY
- Fisher-Price: $206.1M, +3% YoY
💰Profits & Financials
- Gross Margin: 50.7% vs 48.8% in Q4 2023
- Operating Margin: 9.6% vs 8.6% in Q4 2023
- Cash and Equivalents: $1.39B vs $1.26B in 2023
- Free Cash Flow: $597.9M vs $709.5M in 2023
- Share Repurchase: $400M in 2024
📌Business Highlights
- Achieved cost savings target ahead of schedule
- Strengthened balance sheet and improved leverage ratio
- Expanded gross margin by 190 basis points
🔮Future Outlook
- FY2025 Net Sales growth: +2% to 3% in constant currency
- Targeting $600M in share repurchases for 2025
- Adjusted EPS guidance: $1.66-$1.72
- Planning to increase investments in digital games