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Q1 26 EPS
$-0.20
BEAT +4.12%
Est. $-0.21
Q1 26 Revenue
$862.2M
BEAT +6.58%
Est. $809.0M
vs S&P Since Q1 26
-8.8%
TRAILING MARKET
MAT -6.6% vs S&P +2.2%
Market Reaction
Did MAT Beat Earnings? Q1 2026 Results
Mattel posted a stronger-than-expected first quarter for fiscal 2026, beating on both the top and bottom lines despite a bruising cost environment. The toymaker reported revenue of $862.20 million, up 4.3% year over year and well ahead of the $808.97… Read more Mattel posted a stronger-than-expected first quarter for fiscal 2026, beating on both the top and bottom lines despite a bruising cost environment. The toymaker reported revenue of $862.20 million, up 4.3% year over year and well ahead of the $808.97 million consensus, while adjusted diluted EPS came in at a loss of $0.20, edging past the $0.21 estimate by 4.12%. The headline story, however, was margin pressure: gross margin contracted 450 basis points to 44.9%, as tariff costs, unfavorable foreign exchange, and inflation weighed heavily on profitability, widening the adjusted operating loss to $70.40 million from $8.10 million a year ago. A $147.90 million non-operating gain from remeasuring Mattel's equity stake in its Mattel163 mobile games joint venture with NetEase flattered GAAP results, lifting reported net income to $61.00 million. Hot Wheels was the standout brand, with worldwide gross billings climbing 17% to $314.40 million, while Barbie slipped 16% to $146.10 million. Looking ahead, Mattel held its full-year guidance steady, projecting constant-currency net sales growth of 3% to 6% and recast adjusted EPS of $1.27 to $1.39.
Key Takeaways
- • Hot Wheels growth driving Vehicles category up 17% as reported
- • Strong International segment growth of 15% as reported, 8% in constant currency
- • Games growth including partial quarter contribution from Mattel163
- • Action Figures and Other contributing to category growth
- • $147.9 million gain on remeasurement of previously held Mattel163 equity interest boosting GAAP net income
MAT Forward Guidance & Outlook
Mattel's full-year 2026 guidance is unchanged: Net Sales growth of 3% to 6% in constant currency, Adjusted Gross Margin of approximately 50%, Adjusted Tax Rate of approximately 24%, and recast Adjusted Operating Income of $580-$630 million and Adjusted EPS of $1.27-$1.39 (recast to exclude amortization of acquired intangible assets). The company expects to achieve its full-year targets, noting momentum in the business and top-line acceleration in Q2 to date. Management also reiterated its $400 million share repurchase target for 2026. Guidance remains subject to market volatility, macroeconomic risks, tariff developments, and regulatory actions impacting global trade.
MAT YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MAT Revenue by Segment
With YoY comparisons, source: SEC Filings
MAT Revenue by Geography
With YoY comparisons, source: SEC Filings
“We are off to a good start to the year, with Net Sales growth and positive consumer demand for our products in the first quarter. We continued to make progress on our strategy to grow our IP driven play and family entertainment business and are seeing top-line acceleration in the second quarter to date. Our digital strategy is progressing, including the integration of Mattel163 mobile games studio and the upcoming launch of two self-published mobile games, and we look forward to the global theatrical release of the Masters of the Universe movie on June 5th.”
— Ynon Kreiz, Q1 2026 Earnings Press Release
MAT Earnings Trends
MAT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MAT EPS Trend
Earnings per share: estimate vs actual
MAT Revenue Trend
Quarterly revenue: estimate vs actual
MAT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.21 | $-0.20 | +4.12% | $862.2M | +6.58% |
| Q4 25 MISS FY | $0.55 | $0.39 | -28.82% | $1.77B | -3.71% |
| FY Full Year | $1.58 | $1.41 | -10.55% | $5.35B | -1.33% |
| Q3 25 MISS | $1.06 | $0.89 | -15.93% | $1.74B | -5.50% |
| Q2 25 BEAT | $0.16 | $0.16 | +1.98% | $1.02B | -3.23% |
| Q1 25 BEAT | $-0.10 | $-0.03 | +70.44% | $826.6M | +4.44% |