With Spielwarenmesse within the rearview mirror and Toy Fair New York on the horizon, toy business earnings season is again in motion.
Mattel kicked off the season after the bell at this time with fourth quarter and full-year 2024 earnings.
In This autumn, gross sales grew 2% to $1.6 billion as gross margin spiked to 50.7%. For 2024, web gross sales slipped 1% to $5.3 billion as gross margin hit 50.8%. Working revenue for the 12 months grew $133 million to $694 million.
2024 was a 12 months of robust operational excellence for Mattel with topline development within the fourth quarter. Our priorities for the 12 months had been to develop profitability, develop gross margin, and generate robust free money circulation and we achieved all three aims, properly forward of expectations. As we progress by way of 2025, our eightieth anniversary 12 months, we sit up for rising each high and backside line and persevering with to efficiently execute our multi-year technique.”
For the 12 months, gross billings in North America and the Worldwide segments fell 1% because of declines in Dolls (primarily Barbie) and Toddler, Toddler, and Preschool (primarily Child Gear and Energy Wheels). The declines had been partially offset by 9% worldwide development in Automobiles (primarily Sizzling Wheels) whereas development in Motion Figures, Constructing Units, Video games, and Different (primarily Motion Figures and Video games) helped North America.
Extra Highlights:
- Automobiles: Sizzling Wheels achieved its seventh consecutive 12 months of file development. Disney•Pixar Vehicles and Matchbox additionally grew.
- Toddler, Toddler, and Preschool: Fisher-Worth returned to development pushed by Little Individuals and final 12 months’s launch if Fisher-Worth Wooden. Declines had been as a result of exit of child gear and the sunsetting of Energy Wheels.
- Dolls: Depraved and Moana 2 merchandise carried out properly alongside development in American Woman and Monster Excessive. Barbie declined, however nonetheless led dolls.
- Challenger Classes: UNO achieved its highest 12 months on file. Video games noticed double-digit development. WWE and Minecraft drove development in motion figures.
Mattel additionally revealed its 2025 steerage with web gross sales anticipated to rise 2-3% this 12 months.
The corporate will maintain an earnings name at 5 p.m. ET at this time. This story will likely be up to date with further info…
The submit Mattel Reports Q4, Full-Year 2024 Earnings appeared first on The Toy Book.
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