MAT - Mattel Inc. (MAT) Q1 2024 Earnings Call Transcript
2024-04-23 21:05:23 ET
Mattel, Inc. (MAT)
Q1 2024 Earnings Call Transcript
April 23, 2024 05:00 PM ET
Company Participants
David Zbojniewicz - Head of IR
Ynon Kreiz - Chairman and CEO
Anthony DiSilvestro - CFO
Conference Call Participants
Alexander Perry - Bank of America
Arpine Kocharyan - UBS
Drew Crum - Stifel
Fred Wightman - Wolfe Research
Kylie Cohu - Jefferies
Megan Alexander - Morgan Stanley
Eric Handler - ROTH MKM
Christian Carlino - JPMorgan
Stephen Laszczyk - Goldman Sachs
James Hardiman - Citi
Linda Bolton Weiser - D.A. Davidson
Jaime M. Katz - Morningstar
Presentation
Operator
Thank you for standing by. My name is Krista and I will be your conference operator today. At this time, I would like to welcome everyone to the Mattel's First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
I will now turn the conference over to David Zbojniewicz, Head of Investor Relations. David, you may begin your conference.
David Zbojniewicz
Thank you, operator, and good afternoon, everyone. Joining me today are Ynon Kreiz, Mattel's Chairman and Chief Executive Officer; and Anthony DiSilvestro, Mattel's Chief Financial Officer. As you know, this afternoon we reported Mattel's first quarter 2024 financial results. We will begin today's call with Ynon and Anthony providing commentary on our results, after which we will provide some time for questions.
To help supplement our discussion today, we have provided you with a slide presentation. Our discussion, slide presentation, and earnings release may reference non-GAAP financial measures, including adjusted gross profit and adjusted gross margin, adjusted other selling and administrative expenses, adjusted operating income or loss and adjusted operating income or loss margin, adjusted earnings per share, adjusted tax rate, earnings before interest, taxes, depreciation and amortization or EBITDA, adjusted EBITDA, free cash flow, free cash flow conversion, leverage ratio, net debt, and constant currency.
In addition, we present changes in gross billings, a key performance indicator. Please note that we may refer to gross billings as billings in our presentation and that gross billings figures referenced on this call will be stated in constant currency unless stated otherwise. For today's presentation, references to POS and consumer demand exclude the impact related to our Russia business, given our decision to pause all shipments into Russia in 2022.
Our slide presentation can be viewed in sync with today's call when you access it through the Investors section of our corporate website, corporate.mattel.com. The information required by Regulation G regarding non-GAAP financial measures, as well as information regarding our key performance indicator is included in our earnings release and slide presentation. And both documents are also available in the Investors section of our corporate website. The preliminary financial results included in the press release and slide presentation represent the most current information available to management....
Mattel, Inc. (MAT) Q1 2024 Earnings Call Transcript