Mattel publishes Q3 2026 earnings call transcript
MAT•Mattel cut its 2026 outlook after weaker-than-expected consumer sales continued into the fourth quarter. It now expects constant-currency sales growth of 1%-4%, adjusted EPS of $1.05-$1.20 and adjusted operating income of $500 million-$570 million.
1. Lowered 2026 outlook
Mattel said weaker-than-expected consumer sales late in the third quarter continued into the fourth quarter across major markets, prompting it to cut its full-year outlook. The company now forecasts adjusted gross margin of roughly 48%, excluding tariff refunds. CEO Roger Lynch said the company is prioritizing its core toy business; Barbie remained below expectations, while Hot Wheels approached $2 billion in gross billings. The November 5 third-quarter earnings call included Lynch, CFO Peter Griffith, Executive Advisor Paul Ruh and investor relations head Katina Metzidakis.
