Mattel (MAT) Stock Gains 9% on Q4 Beat and Raise

Mattel (NASDAQ: MAT) shares were trading more than 9% higher after-hours following the company’s strong Q4 results, with EPS of $0.53 coming in better than the consensus estimate of $0.30. Revenue grew 10% to $1.8 billion, compared to the consensus estimate of $1.65 billion.

Net Sales in the North America segment grew 14%, with Gross Billings up 13%. Net Sales in the International segment grew 9%, with Gross Billings up 7%. Net Sales in the American Girl® segment declined 6%, with Gross Billings down 6%.

According to Reuters, Ynon Kreiz, CEO of Mattel, said that the company does not necessarily expect supply chain issues to go away, but expects to be able to navigate further disruption if it comes, including an option to raise prices further.

For the full 2021-year, the company posted Net Sales of $5.5 billion, which represents a 19% growth from 2020.

The company expects full 2022-year EPS of $1.42-$1.48, compared to the consensus estimate of $1.39. The company expects 2022 net sales growth of 8-10% and 2023 net sales growth in the high single digits (up from its previous outlook of mid-single-digit growth).

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