Mattel Shares Sink In After-hours Trading After Earnings And Sales Miss

By Tonya Garcia Markets MarketWatch Pulse

Mattel Inc. shares sank 9.7% in late Wednesday trading after the toy company reported fourth-quarter earnings and sales that missed estimates. Net income was $173.8 million, or 50 cents per share, down from $215.2 million, or 63 cents per share, for the same period last year. Adjusted EPS was 52 cents, missing the 71-cent FactSet consensus. Sales were $1.83 billion, down from $2.00 billion last year and below the $1.96 billion FactSet consensus. Mattel said gross sales of Fisher-Price products were down 3% worldwide, and Barbie gross sales fell 2% globally. Hasbro Inc. took over the license for the Disney Princess dolls from Mattel in 2016. Mattel shares are up 18% for the past year while the S&P 500 index is up 22.4% for the same period.

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