Mattel (MAT) earnings Q3 2025

barbie maker Mattel As ongoing global tariffs continue to hamper the toy maker’s sales in North America, it reported third-quarter results that met analysts’ expectations after the market closed on Tuesday.

The company’s shares fell 4% in after-hours trading.

Here’s what Mattel reported For its third quarter compared to Wall Street expectations, according to a survey of analysts by LSEG:

• Earnings per share: Adjusted 89 cents to $1.07 expected
• Revenues: 1.74 billion dollars, while the expectation was 1.83 billion dollars

For the quarter ended Sept. 30, the company reported net income of $278 million, or 88 cents per share, down from $372 million, or $1.09 per share, a year earlier. Taking into account one-time items, including restructuring and certain product recall costs, earnings per share were 89 cents.

Net sales fell 6% to $1.74 billion, missing Wall Street expectations.

This is the first time the toy giant has missed both earnings and revenue expectations in the last three quarters.

In May, Mattel withdrew its annual fiscal targets and said it would raise prices of some products in the U.S. to cover rising input costs due to tariffs imposed by the Trump administration on major trading partners.

On Tuesday, the company released full-year guidance calling for net sales to rise between 1% and 3% and earnings per share of $1.54 to $1.66.

“While our U.S. business was challenged in the third quarter by industry-wide changes in retailer ordering patterns, the fundamentals of our business are strong,” Mattel CEO Ynon Kreiz said in a statement. “Orders from U.S. retailers have accelerated significantly since the beginning of the fourth quarter.”

Tariffs are putting pressure on toy manufacturers across the industry. About half of Mattel’s global toy sales come from the United States, and by the end of the year, less than 40% of Mattel’s products will be sourced from China, Kreiz said on CNBC in May.

In the third quarter, sales in North America fell 12%, with the company’s largest year-over-year decline in the baby, toddler and preschool category. Meanwhile, international sales increased 3%.

Overall, Mattel’s two largest toy brands saw sales decline: Global Barbie sales fell 17% from the same quarter a year ago, and Fisher-Price sales fell 19%. The company’s global Hot Wheels sales increased 8%.

Going forward, Mattel is focused on expanding its entertainment offerings and utilizing new technologies. On Tuesday, Mattel and Hasbro netflix Leveraging the success of the “KPop Demon Hunters” movie to offer dolls and other consumer products tied to the movie.

Mattel produces dolls, action figures, accessories, and playsets and is currently taking pre-orders for a trio of doll packs featuring Rumi, Mira, and Zoey, members of the fictional KPop trio HUNTR/X. Products and toys from both companies will be available at retail in spring 2026.

Correction: Mattel reported net income of $278 million. A previous version of this article misstated the figure.