Mattel, Inc. (MAT) Q2 2016 Earnings: Beats Earnings & Stocks Rise

Mattel, Inc. (NASDAQ:MAT) announced financial results for the second quarter of fiscal 2016, posting earnings of -$0.02 per share and net sales of $957.3 million.

Currently, Mattel has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Mattel:

1. Beat earnings estimates: The company posted -$0.02 per share, surpassing our Zacks Consensus Estimate of -$0.06. The company’s EPS figure excludes $0.04 from non-recurring items.

2. Beat revenue estimates: The company saw revenue figures of $957.3 million, beating our estimate of $940 million.

3. Mattel Reported operating loss of $11.7 million, compared to a reported operating income of $0.6 million in the prior year, and an adjusted operating income of $6.2 million, compared to an adjusted operating income of $18.8 million in the prior year.

4. “We are encouraged by our results in the second quarter, which reflect good ongoing progress in our turnaround,” said Christopher Sinclair, Chairman and CEO of Mattel. “Importantly, we continue to see improved brand momentum across much of our portfolio, and our slate of entertainment licenses is strong and building. Overall, our performance is in line with our expectations, and allowing for continuing foreign exchange headwinds, we remain broadly on track with our outlook for the year.”

5. Shares of MAT are up over 4% in after hours trading shortly after its earnings report was released.

Here’s a graph of Mattel’s Price, Consensus, and EPS Surprise:

MATTEL INC Price, Consensus and EPS Surprise

MATTEL INC Price, Consensus and EPS Surprise | MATTEL INC Quote

Mattel, Inc. designs, manufactures, and markets a broad variety of family products on a worldwide basis through both sales to retailers and direct to consumers. Mattel's business is dependent in great part on its ability each year to redesign, restyle and extend existing core products and product lines, to design and develop innovative new products and product lines, and successfully market those products and product lines.

Check back later for our full analysis on Mattel’s 2016 second quarter earnings report!