Yahoo Finance Mattel Earnings: What To Look For From MAT
Toy manufacturing and entertainment company (NASDAQ:MAT) will be reporting results tomorrow after market close. Here's what to look for.
Mattel missed analysts' revenue expectations by 2.8% last quarter, reporting revenues of $809.5 million, flat year on year. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates. Looking ahead, full year EPS guidance was line with expectations.
Is Mattel a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Mattel's revenue to grow 1.1% year on year to $1.10 billion, a reversal from the 12% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mattel has missed Wall Street's revenue estimates four times over the last two years.
Looking at Mattel's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6.4% on average over the last month. Mattel is down 4.3% during the same time and is heading into earnings with an average analyst price target of $23.3 (compared to the current share price of $16.48).
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