Mattel down as annual profit forecast misses expectations

NetEase

10/02/2026 21:30

** Shares of Barbie-maker Mattel MAT.O down ~13% at $18.40 after the bell

**  Co forecasts annual profit below estimates after missing fourth-quarter estimates, as weak discretionary spending weighed on toy demand

** Expects 2026 adjusted earnings per share of $1.18 to $1.30, below analysts' average estimate of $1.75, according to data compiled by LSEG

** Fourth-quarter net sales rose 7% to $1.77 billion, missing expectations of $1.84 billion

** Quarterly adjusted earnings of 39 cents per share fell short of the 54 cents estimate

** Co unveils a $1.5 billion share buyback plan to be completed by 2028

** MAT to acquire the remaining 50% of Mattel163, in a joint venture with China's NetEase, for $159 million

** Announces a multi‑year licensing deal with Paramount Skydance PSKY.O to develop and market Teenage Mutant Ninja Turtles products starting in 2027

** Stock rose ~12% in 2025

(Reporting by Koyena Das in Bengaluru)

((koyena.das@thomsonreuters.com))