On February 09, 2022, Mattel Inc. (MAT) declared its Q4 and fiscal 2021 results, after the bell. Following which the stock soared high in the after-hours session.
During the regular session, the stock went as high as $22.82 and as low as $22.12 at an above-average volume of 4.83 million shares. MAT closed the session with a gain of 3.83% at $22.75. Consequent to the earnings, MAT added a further 11.16% in the after-hours. Hence, the stock was trading at $25.29 per share in the after-hours on Wednesday.
MAT: 2021 Highlights
Net Sales
In Q4 2021, the company’s sales increased by 10% on a YOY basis to $1,795 million. The full-year 2021 net sales saw an increase of 19% YOY to $5,458 million. On a constant currency basis, the net sales increased by 11% YOY and 18% YOY in Q4 and fiscal 2021.
Net Income & EPS
The company reported a net income of $226 million and $903 million for Q4 and fiscal 2021, respectively. This marks a respective increase of $97 million and $779 million on a YOY basis.
Resultantly, the adjusted EPS was $0.53 in Q4 2021 and $1.30 in fiscal 2021, with an increase of $0.13/share and $0.76/share YOY, respectively.
Adjusted EBITDA
For the fourth quarter of 2021, MAT reported an adjusted EBITDA of $321 million, marking an increase of $48 million.
Furthermore, the reported adjusted EBITDA for fiscal 2021 was $1,007 million, showing an increase of $301 million.
MAT: Fiscal 2022 Guidance
For the full year 2022, the company expects net sales to grow by 8% to 10% year over year on a constant currency basis.
Additionally, MAT expects adjusted EPS of $1.42 – $1.48 and adjusted EBITDA of $1,100 – $1,125 million for fiscal 2022.
MAT: Recent Announcement
On February 08, MAT announced that Barbie and neuroscientists at Cardiff University have disclosed the latest findings from a multi-year study. The study assessing the short-term and long-term developmental impacts of doll play on children found that dolly play leads to ISL development. This leads to the utilization of a necessary interaction skill used in the real world.
Conclusion
The company’s recent financial results beat both its earnings and revenue estimates. The company’s quarterly report presented a positive earnings surprise of 60.61% and a revenue surprise of 7.91%. Given the beat results and further hopeful future outlook, the stock soared high in the after-hours on Wednesday. Thus, the investors were pleasantly impressed with the company’s growth and future expectations.
