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TheStreet Open House

Mattel (MAT) Buoyed on 3Q Earnings Win

NEW YORK (TheStreet) -- Mattel (MAT) reported better-than-expected third-quarter earnings before the bell Wednesday, sending shares higher in morning trading. Shares were 4.3% higher to $43.35 as of 10:55 a.m. New York time, leading the S&P 500 which is up 1.2%.

For the quarter ended September 30, the toymaker saw North American sales rise 3% and international sales gain 9%, thanks to stellar demand for American Girl (+20%) and "Other" brands such as Monster High (+28%). Sales of Mattel's brand leader Barbie increased 3%, the first gain in four quarters.

Third-quarter net income came in at $422.8 million or $1.21 a share, a more than 15% increase on the year-ago quarter. Revenue was $2.21 billion, a 6% year-on-year increase.

"As we enter the all-important holiday season, we have a strong lineup of innovative products, promotions and content, and we will continue to focus on execution to deliver growth and long-term shareholder value," said CEO Bryan G. Stockton in a statement.

Heading into the busy festive shopping season, Mattel notes more than 80 of its products have made insider lists on e-commerce sites including Amazon (AMZN), Wal-Mart (WMT), Kmart and Kohl's (KSS).

TheStreet Ratings team rates Mattel Inc as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate Mattel Inc (MAT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Written by Keris Alison Lahiff.

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