Barbie wasn’t in the mood to celebrate — even if Ken showed up with Hot Wheels and the Teenage Mutant Ninja Turtles. Investors weren’t feeling festive either.
Mattel shares fell 15 percent Wednesday to close at USD15.80 after the toy maker reported disappointing fourth-quarter results during what is usually its strongest sales period.
The company posted adjusted earnings of 39 cents per share on revenue of USD1.77 billion, both below analyst expectations.
Mattel chief executive officer Ynon Kreiz said December order growth came in slower than anticipated. Retailers spent the early part of the quarter catching up on shipments delayed by uncertainty surrounding tariffs introduced during the Trump administration.
MREIT said the shortfall was largely concentrated in the US, while international sales met expectations.
Mattel and rival Hasbro raised prices last year to offset tariff-related costs. But retailers have remained cautious about placing new orders amid lingering trade uncertainty. The toy maker said the growth in December sales did not fully make up for earlier delays.
Mattel warned that earnings could decline in 2026. The toy maker projected adjusted earnings per share of USD1.18 to USD1.30, down from USD1.41 in 2025. Revenue is expected to grow between 3 percent and 6 percent, broadly in line with forecasts.
The company also announced it will acquire the remaining stake in mobile gaming venture Mattel163 from partner NetEase and signed a multi-year licensing deal with Paramount Skydance to produce Teenage Mutant Ninja Turtles toys.
The results highlight pressure in Mattel’s core US market, even as the company pushes to expand its digital and entertainment footprint.
