Mattel(US:MAT)2025-05-06 07:10Financial Performance - Net Sales increased by 2% as reported, reaching $827 million, and by 4% in constant currency [32] - Adjusted Gross Margin improved by 130 bps to 49.6% [16] - Adjusted EBITDA grew by 7% to $57 million [16] - Adjusted EPS improved by $0.02 to ($0.03) [32] Category and Geographic Performance - Gross Billings increased by 5% [34] - Vehicles gross billings increased by 6% in constant currency to $308 million [35] - Dolls gross billings increased by 2% in constant currency to $297 million [35] - Action Figures, Building Sets, Games, and Other category gross billings increased by 14% in constant currency to $193 million [35] - EMEA gross billings increased by 8% in constant currency to $239 million [38] - Asia Pacific gross billings increased by 12% in constant currency to $84 million [38] Strategic Initiatives and Outlook - Mattel is implementing mitigating actions to offset potential tariff impacts, aiming for US imports from China to be less than 15% by 2026 and less than 10% by 2027 [17] - The company is pausing full-year 2025 guidance due to macroeconomic uncertainty and tariff situation [30] - Mattel is maintaining its $600 million share repurchase target for 2025 [31] Cost Savings - Mattel achieved $19 million in savings in Q1 from the Optimizing for Profitable Growth (OPG) program [57] - The company is increasing its 2025 cost savings target to $80 million from $60 million [58]