Mattel, Inc. (MAT) Q3 2025 Earnings Call Transcript

Operator

Ladies and gentlemen, thank you for standing by. My name is Abby, and I’ll be your conference operator today. At this time, I would like to welcome everyone to the Mattel, Inc. Third Quarter 2025 Earnings Conference Call. [Operator Instructions]

And I would now like to turn the conference over to Jen Kettnich, Head of Investor Relations. You may begin.

Jennifer Kettnich

Thank you, operator, and good afternoon, everyone. Joining me today are Ynon Kreiz, Mattel’s Chairman and Chief Executive Officer; and Paul Ruh, Mattel’s Chief Financial Officer.

This afternoon, we reported Mattel’s third quarter 2025 financial results. We will begin today’s call with Ynon and Paul providing commentary on our results, after which we will provide some time for questions.

Please note that during the question-and-answer session, we respectfully ask that you limit to one question and one follow-up so that we can get to as many analysts and questions as possible today.

Today’s discussion, earnings release and slide presentation may reference certain non-GAAP financial measures and key performance indicators, which are defined in the slide presentation and earnings release appendices. Please note that gross billings figures referenced on this call will be stated in constant currency unless stated otherwise.

Our earnings release, slide presentation and supplemental