Mattel Misses Q3 Revenue, Cuts Full-Year Outlook

The toymaker reported third-quarter revenue below Street expectations and lowered its fiscal 2026 earnings guidance.

Updated on Nov. 6, 2026 in Corporate Finance

Isometric editorial illustration of plain cardboard shipping boxes and blank toy-shaped forms on a warehouse floor in muted oxblood, teal, and mustard. — Mattel reported third-quarter revenue of $1.806 billion on Thursday, missing Street estimates of $1.835 billion, and cut its fiscal 2026 earnings guidance. AI Illustration. Upload story photo >

Mattel reported third-quarter 2026 revenue of $1.806 billion, up 4% year-over-year but short of a Street consensus estimate of $1.835 billion. The company also lowered its fiscal 2026 earnings per share guidance to $1.05 to $1.20, and its shares fell in after-hours trading.

Why it matters

The revenue miss and reduced guidance signal that Mattel's growth is uneven across its product lines, even as its earnings per share beat expectations. For U.S. investors and consumers, the results point to shifting demand among toy categories.

Dolls billings reached $703 million, up 4%, and Vehicles billings reached $680 million, up 9%, while Infant, Toddler and Preschool billings fell 16% to $221 million. Action Figures, Building Sets, Games and Other billings rose 12% to $451 million, but the source does not specify what drove the shortfall against revenue estimates.

The players

Mattel

Mattel is a major American toy company known for brands including Barbie, Hot Wheels and Fisher-Price.

Roger Lynch

Roger Lynch became chief executive of Mattel in October 2026, taking over leadership of the toy maker.

The details

Mattel reported results after market close on Thursday, with North America revenue up 4% and international revenue up 5%. Dolls growth was tied to strength in KPop Demon Hunters while Barbie declined, and Vehicles growth reflected strength in Hot Wheels.

October 2026: Roger Lynch became Mattel CEO.
November 5, 2026: Mattel reported Q3 results after market close.

Corporate Finance Context

Mattel's lowered fiscal 2026 EPS guidance of $1.05 to $1.20 revises down the earlier $1.27 to $1.39 range set for the same year. The shift places the company's full-year outlook below the prior projection while analysts still expect $1.29 per share and $5.667 billion in revenue.

Investors holding Mattel shares face a reset in expectations, since the full-year EPS guidance now sits well below the earlier range. The company's share decline in after-hours trading means portfolio values tied to the stock may be affected in the near term.

The takeaway

Investors should weigh a company's revised guidance alongside its beat on earnings per share, since revenue and forecast changes can matter more for future performance. Tracking category-level billings can clarify which parts of a business are driving growth.