Mattel, Inc. - MAT STOCK NEWS

Mattel (NASDAQ: MAT) announced the winner of the 2024 Hot Wheels Legends Tour, the world's largest traveling car show. The winning vehicle, 'La Liebre', a custom race car from Chile, will be transformed into a 1:64 scale Hot Wheels die-cast car and inducted into the Hot Wheels Garage of Legends. The vehicle, built on a modified Ford Falcon chassis, features a 600-horsepower Chevrolet 350 motor and weighs under 2,000 pounds. The tour evaluated over 5,000 vehicles from 13 countries, including new stops in Colombia and UAE. La Liebre was chosen for its impressive build and role in growing Chile's car community.

Mattel (MAT) reported Q3 2024 financial results with Net Sales of $1,844 million, down 4% year-over-year. Despite lower sales, the company achieved improved profitability with Gross Margin expanding to 53.1%, up 210 basis points. Operating Income increased to $488 million, while Earnings per Share rose significantly to $1.09 from $0.41. Hot Wheels showed strong performance with increased sales, while Barbie sales declined. The company updated its 2024 guidance, now expecting full-year Net Sales to be comparable to slightly down, while maintaining its Adjusted EBITDA target of $975-$1,025 million and Adjusted EPS guidance of $1.35-$1.45.

Mattel, Inc. (Nasdaq: MAT) and GameMill Entertainment have launched Hot Wheels Monster Trucks: Stunt Mayhem on multiple gaming platforms. Developed by 3D Clouds, the game allows players to control popular Hot Wheels Monster Trucks like Bone Shaker™, Tiger Shark, Race Ace™, and Bigfoot™ in various game modes. The game features solo play and local multiplayer options, allowing players to perform stunts, take on bosses, and compete in arena showdowns.

The Standard Edition is available for $39.99, while the Deluxe Edition, priced at $49.99, includes additional DLC content. Mattel's Head of Business Development for Digital Gaming, Erika Winterholler, emphasized the game's alignment with Hot Wheels' competitive spirit and challenger ethos. The launch reinforces Hot Wheels' position as the number one selling toy in the US in 2023 based on units, according to Circana data.

Mattel, Inc. (NASDAQ: MAT) is developing a live-action feature film based on its iconic View-Master toy, in collaboration with Sony Pictures Entertainment and Escape Artists. The View-Master, a stereoscopic viewing device introduced in 1939, has been a popular childhood staple for generations, offering 3-D image reels that take viewers on imaginative adventures around the world.

Robbie Brenner, President of Mattel Films, expressed excitement about the project, highlighting the toy's storytelling potential. Todd Black, Producer for Escape Artists, emphasized View-Master's legacy of sparking imagination and their aim to create a new adventure for today's audience.

This project is part of Mattel Films' vision to produce quality movies based on its iconic brands. The company is also collaborating with Escape Artists on an upcoming Masters of the Universe live-action feature film.

Mattel's Hot Wheels brand has launched a new platform called 'Challenge Accepted' aimed at fostering a growth mindset in children. The initiative is based on research conducted with Mindset Works, which found that 77% of children aged 4-8 believe they can learn anything with effort. However, 71% of parents reported intervening when their children face challenges, potentially hindering growth mindset development.

As part of this initiative, Hot Wheels is introducing the Hot Wheels Challenger Spirit Fund. The fund's inaugural partner is Mission 44, a charity founded by Formula One champion Sir Lewis Hamilton. The partnership will be showcased at a STEM event during the 2024 Formula 1 United States Grand Prix in Austin, Texas.

The 'Challenge Accepted' platform aims to empower children through play, encouraging them to try, fail, repeat, and grow. Research showed that children who frequently play with Hot Wheels toys are 32% more likely to embrace new challenges.

Mattel Television Studios has unveiled the official trailer and theme song for Barney's World, a new animated series premiering on October 14 on Max and October 18 on Cartoon Network. The show, a fresh take on the iconic purple dinosaur, will also launch on Cartoonito in EMEA and APAC, Discovery Kids in LATAM, and Treehouse and STACKTV in Canada. The first episode will debut early on Barney's YouTube channel on October 11.

The updated theme song pays homage to the original while featuring new lyrics. Each episode of Barney's World aims to teach children lessons about self-love and friendship. Josh Silverman, Chief Franchise Officer at Mattel, expressed excitement about sharing a modernized Barney with a new generation, emphasizing the show's focus on empowering future generations.

Mattel, Inc. (NASDAQ: MAT) has promoted Roberto Stanichi to Executive Vice President, Hot Wheels & Head of Vehicles and Building Sets. Stanichi, who reports to Lisa McKnight, Executive Vice President and Chief Brand Officer, has been instrumental in growing Mattel's Vehicles category and Hot Wheels, the #1 selling toy globally. Under his leadership, Hot Wheels is on track for its seventh consecutive record year in 2024.

Stanichi's strategic approach has established Hot Wheels as an iconic automotive franchise for both kids and adults through product, content, digital gaming, and live experiences. He has led the Vehicles category to reach over $1.6B in gross billings for Mattel. In his expanded role, Stanichi will also oversee the Thomas and Friends franchise and the Building Sets category, led by MEGA.

Mattel, Inc. (NASDAQ: MAT) has announced the release date for its third quarter 2024 financial results. The company plans to disclose these results on Wednesday, October 23, 2024, at approximately 4:05 p.m. Eastern Time. Following this release, Mattel will host a webcast conference call at 5:00 p.m. Eastern Time.

The webcast and accompanying slides will be accessible through the Events and Presentations section of Mattel's Investor Relations website. Interested parties are advised to log on at least 10 minutes early to register and install any necessary audio software. An archive of the webcast will remain available on the company's website for 12 months after the event. Additionally, financial and statistical information, including data required by Regulation G, will be provided on the Investors section of Mattel's corporate website at the time of the webcast.

Janie and Jack, a children's fashion brand, has partnered with Mattel Inc.'s (NASDAQ: MAT) American Girl to launch a special holiday collection. The collaboration features matching styles for children and dolls, inspired by American Girl's historical characters Samantha, Kirsten, and Addy. The collection includes nine styles for girls, priced from $36.50 to $114.00, available in sizes 2T to 12 years. Matching doll clothing ranges from $12 to $40.

The collection will be available from September 26 on janieandjack.com, americangirl.com, and saksfifthavenue.com, as well as in select retail stores. A -edition dress is exclusively available on saksfifthavenue.com. The collaboration aims to create magical experiences and lasting memories for families during the holiday season.