Mattel reported net sales of $1.76 billion in Q3 of 2021 — an 8% increase as reported and 7% increase in constant currency versus the prior year.
In the first nine months of 2021, Mattel experienced a 24% increase in net sales as reported (and 22% in constant currency), compared to the first nine months of 2020.
“This was another strong quarter for Mattel, with increased consumer demand for our products and results exceeding expectations,” said chairman and CEO Ynon Kreiz. “We successfully navigated ongoing global supply chain disruption, achieved sales growth and, per The NPD Group, continued to gain market share.”
In North America specifically, net sales rose 12% as reported and in constant currency from Q3 of 2020.
Mattel also reported a 12% increase (11% in constant currency) in gross billings in North America. The company saw growth in North America across the categories of action figures; building sets, games, and other; vehicles; dolls; infant, toddler, and preschool.
Net sales internationally were up 2% as reported and flat in constant currency. International gross billings grew 3% as reported and 1% in constant currency — with growth in action figures, building sets, games, and other; and dolls offset by declines in vehicles as well as infant, toddler, and preschool.
By category, Mattel reported the following gross billings worldwide:
Gross billings were $720 million — up 4% as reported and 3% in constant currency from Q3 2020 — driven by growth in Barbie, Spirit, and Polly Pocket, partially offset by a decline in Cave Club.
Infant, toddler, and preschool
Gross billings totaled $407 million, flat as reported and down 1% in constant currency, as a result of decline in Fisher-Price and Thomas & Friends, but partially offset by Power Wheels growth.
Hot Wheels growth boosted gross billings of vehicles to $390 million, up 6% as reported and 5% in constant currency.
Action figures, building sets, games, and other
Gross billings amounted to $446 million — an increase of 26% as reported and 25% in constant currency — driven by growth in action figures (including Jurassic World, Masters of the Universe, and WWE), plush, and building sets (including MEGA), which was partially offset by a decline in games.
“We are very pleased with our overall financial performance and are consistently generating higher levels of cash flow, strengthening the balance sheet, and improving our credit metrics as we progress towards investment grade metrics,” said CFO Anthony DiSilvestro.
Mattel expects full-year 2021 net sales to increase by approximately 15% from the previous year, up from prior guidance range of 12% to 14%.
“We expect to grow for the balance of the year and have a strong holiday season,” Kreiz said. “Our strength is foundational and broad-based, and we are on a clear path to improve profitability and accelerate top line growth. The Mattel team continues to execute on our strategy, and we are operating as an IP-driven, high-performing toy company.”
See the full financial report here.