EL SEGUNDO, Calif. - Mattel, Inc. (NASDAQ: MAT), the global toy and family entertainment company, announced today that Jennifer Kettnich has been appointed as Vice President, Investor Relations. She will be reporting directly to the Chief Financial Officer Anthony DiSilvestro.
Kettnich is tasked with leading the Investor Relations function, a role that includes engaging with the investor community, analysts, and communicating Mattel's financial standing and strategic direction. Her experience in investor relations and corporate finance in the entertainment industry is expected to be an asset to Mattel's ongoing efforts to expand its brand beyond traditional toys into broader entertainment segments.
Previously holding the position of Vice President, Investor Relations at the Walt Disney Company (NYSE:DIS), Kettnich was a key figure in developing Disney's investor communications, focusing on their strategic and financial goals. Her background also includes significant roles in corporate finance and capital markets, with experience as a buy-side equity analyst.
In a statement, DiSilvestro expressed confidence in Kettnich's ability to contribute to Mattel's growth, highlighting her "significant investor relations and corporate finance experience" as well as her expertise in the entertainment and investment management sectors.
Kettnich herself commented on the excitement of joining Mattel at a pivotal time, emphasizing her readiness to help articulate the company's value proposition and growth strategy.
Mattel, known for its extensive brand portfolio including Barbie, Hot Wheels, Fisher-Price, and American Girl, has been integrating its toy business with digital and live experiences, aiming to leverage its intellectual property in new ways.
This news is based on a press release statement from Mattel, Inc.
In other recent news, Mattel Inc (NASDAQ:MAT). has made several significant changes in its leadership team. The company appointed Ken Wee as its Executive Vice President and Chief Strategy Officer, a role in which he will direct strategic planning and corporate development. Sai Koorapati has also joined Mattel's leadership team as the new Senior Vice President and Chief Technology Officer, tasked with overseeing technological advancements and online security initiatives.
Regarding financial performance, Mattel reported mixed results for Q2 2024. The company experienced a slight 1% decrease in net sales, but saw an increase in its adjusted gross margin to 49.2%. Adjusted EBITDA and EPS also improved, and despite a drop in gross billings, there was growth in the APAC region.
Goldman Sachs reaffirmed its Buy rating on Mattel, maintaining a steady price target of $22.00. This decision followed a review of the company's recent presentation, which conveyed a positive outlook on consumer and retail demand. The company's management also emphasized their readiness to cater to value-seeking consumers through their variety of well-regarded brands.
These recent developments highlight Mattel's strategic positioning and readiness to navigate the market effectively. The company remains focused on expanding its entertainment offerings and leveraging its intellectual property for long-term growth.
InvestingPro Insights
As Jennifer Kettnich steps into her new role at Mattel, Inc. (NASDAQ: MAT), the financial community is closely monitoring the company's performance and strategic initiatives. With this in mind, InvestingPro has provided valuable metrics and tips that may interest investors and analysts alike.
InvestingPro data indicates that Mattel has a perfect Piotroski Score of 9, which suggests that the company is financially healthy and has strong accounting practices. This is particularly relevant as Kettnich will be communicating Mattel's financial standing to the investment community. Moreover, Mattel has been actively engaging in share buybacks, as noted by one of the InvestingPro Tips, which could be a sign of management's confidence in the company's value proposition.
Another key insight from InvestingPro is that Mattel is trading at a low P/E ratio relative to near-term earnings growth, potentially indicating an undervalued stock that may attract value investors. Additionally, the company's liquid assets exceed its short-term obligations, providing financial stability and flexibility.
While six analysts have revised their earnings downwards for the upcoming period, it's worth noting that Mattel is still expected to be profitable this year, with net income projected to grow. This could be a focal point for Kettnich as she conveys the growth strategy to stakeholders.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available at: https://www.investing.com/pro/MAT. These tips delve further into Mattel's financial outlook and market positioning, offering a comprehensive view of the company's investment potential.
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