Filing Flows › Mattel (MAT) › Q1 2026
Mattel (MAT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Mattel (MAT) reported revenue of $862M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -51% from the quarter before. Operating margin was -11.9%, net earnings $61.0M (7.1% of revenue).
Mattel, Q1 2026: revenue $862M (+4% year over year), operating margin -11.9%, net earnings $61.0M, operating cash flow −$22.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $862M | -51% | +4% |
| Operating profit | −$103M | -173% | — |
| Net earnings | $61.0M | -43% | — |
| Operating cash flow | −$22.9M | -103% | -192% |
What changed
Revenue was $862.2M in Q1 2026, up 4% year over year and down 51% from the previous quarter.
Gross margin was 44.9%, down 4.5 points from Q1 2025. Operating costs exceeded revenue by $102.7M, an operating margin of -11.9%. Operating expenses grew 6% against revenue growth of 4%. The fastest-growing cost line was Sales & marketing (+32%). Net earnings were $61.0M. The tax line was a benefit of $32.5M on pre-tax earnings of $28.6M. Non-operating items added $131.3M, 459% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$22.9M. Non-cash charges added back $44.0M of depreciation and amortization and $13.0M of share-based compensation. Working capital and other items used $140.9M. Capital expenditures of $44.9M exceeded it, leaving free cash flow of −$67.8M.
Questions
What was Mattel's revenue in the first quarter 2026?
Mattel (MAT) reported revenue of $862M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -51% from the quarter before.
Was Mattel profitable in the first quarter 2026?
Operating loss was $103M (-11.9% of revenue) and net earnings $61.0M.
Source: Mattel 10-Q on SEC EDGAR.