Mattel Lowers FY22 Profit Outlook, Shares Down 5%

(RTTNews) - Shares of Mattel, Inc. (MAT) slipped nearly 5% in extended trading session on Tuesday after the company lowered its earnings outlook for the full year 2022.

The company now expects adjusted earnings of $1.32 to $1.42 per share and sales growth of 8% to 10%.

Previously, the company expected adjusted earnings of $1.42 to $1.48 per share and revenue growth of 8% to 10%.

Analysts polled by Thomson Reuters currently estimate earnings of $1.49 per share on revenue growth of 7.50% for the quarter. Analysts' estimates typically exclude one-time items.

MAT closed Tuesday's trading at $19.77, up $0.09 or 0.46%, on the Nasdaq. The stock, however, slipped $0.95 or 4.81%, in the after-hours trading.