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Mattel (MAT) Gears Up for Q1 Earnings: What's in Store?

Mattel, Inc. MAT is scheduled to report first-quarter 2024 results on Apr 23, 2024, after the closing bell. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.3%.

The Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings is pegged at a loss of 11 cents per share. In the prior year, MAT reported an adjusted loss per share of 24 cents.

For revenues, the consensus mark is pegged at $834.4 million, implying an improvement of 2.4% from the year-ago reported figure.

Mattel, Inc. Price and EPS Surprise

Mattel, Inc. Price and EPS Surprise
Mattel, Inc. Price and EPS Surprise

Mattel, Inc. price-eps-surprise | Mattel, Inc. Quote

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Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors to Note

Mattel is anticipated to see a rise in first-quarter revenues compared with the prior-year quarter level, fueled by a robust selection of products, including both core and licensed brands, as well as profitable product partnerships. Additionally, focus on intellectual property-driven toys and the expansion of entertainment options are likely to have contributed to the company’s performance.

MAT's quarterly performance is likely to have been boosted by strong contributions from its North America and international segments.

On the other hand, the company’s bottom line is likely to have been hurt by higher input cost inflation, unfavorable fixed cost absorption and other supply-chain costs. Higher severance and restructuring expenses, incentive compensation and pay increases are added concerns. However, its ongoing cost-saving program is expected to have partially offset the adverse effects of these headwinds. This includes simplifying its organizational structure, and optimizing processes and supply chain to generate savings across operations.

What Our Model Says

Our proven model conclusively predicts an earnings beat for Mattel this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.

Earnings ESP: Mattel has an Earnings ESP of +64.10%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Mattel has a Zacks Rank #3 at present.

Other Stocks Poised to Beat on Earnings

Here are some other stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time around.

Hyatt Hotels Corporation H has an Earnings ESP of +9.89% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Hyatt have risen 42.9% in the past year. H’s earnings surpassed the consensus mark in two of the trailing four quarters and missed twice, the average surprise being 17.8%.

Marriott International, Inc. MAR has an Earnings ESP of +2.19% and a Zacks Rank #3 at present.

Shares of Marriott have risen 47.9% in the past year. MAR’s earnings surpassed the consensus mark in each of the trailing four quarters, the average surprise being 21.1%.

Boyd Gaming Corporation BYD has an Earnings ESP of +0.91% and a Zacks Rank #3 at present.

Shares of Boyd Gaming have rallied 7.7% in the past six months. BYD’s earnings surpassed the consensus mark in three of the trailing four quarters and missed once, the average surprise being 6.3%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Marriott International, Inc. (MAR) : Free Stock Analysis Report

Hyatt Hotels Corporation (H) : Free Stock Analysis Report

Mattel, Inc. (MAT) : Free Stock Analysis Report

Boyd Gaming Corporation (BYD) : Free Stock Analysis Report

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