Mattel falls after annual forecast cut

Shares of toymaker Mattel MAT.O fall as much as 10.7% to $18.04 in early trading

Stock set for worst day since April, if losses last

Co cut annual forecast late on Wednesday, after reinstating it following two-month pause, and posted sharp drop in Q2 revenue

MAT expects 2025 net sales to rise 1% to 3%, compared with its February target of 2% to 3% increase

Forecast adjusted EPS between $1.54 and $1.66, below prior estimate of $1.66 to $1.72

CEO Ynon Kreiz said timing shifts in retailer ordering patterns had outsized impact on MAT's U.S. business in Q2; expects co to recover most of its sales in back half of 2025

Average rating of 14 brokerages is "buy"; median PT is $24.32 - data compiled by LSEG

Up to last close, stock had risen 14% YTD