Mattel, Inc., a children's and family entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as content, gaming, and lifestyle products for children under the Barbie, Monster High, American Girl, Disney Princess and Frozen, and Polly Pocket brands; dolls and books under the American Girl brand name; die-cast vehicles, tracks, playsets, and accessories for kids of all ages, and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS, and Mario Kart brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends, and Power wheels brands. The company also provides action figures, building sets, and games under the Masters of the Universe, MEGA, UNO, Lightyear, Jurassic World, WWE, and Star Wars brands; and licensor partner brands, including Disney, Pixar, Microsoft, NBCUniversal, and WWE. It sells its products directly to consumers through its catalog, website, and proprietary retail stores; retailers, including discount and free-standing toy stores, chain stores, department stores, and other retail outlets; and wholesalers, as well as through agents and distributors. Mattel, Inc. was founded in 1945 and is headquartered in El Segundo, California.

Mattel выглядит как компания с неплохой рентабельностью, но с заметным давлением на качество прибыли и баланс. P/E на уровне 9.45 заметно ниже медианы отрасли, что обычно поддерживает идею недооценки, однако этот плюс частично нивелируется отрицательной EPS и слабым прогнозом EPS, то есть рынок, вероятно, уже учитывает нестабильность прибыли. P/FCF тоже ниже отраслевой медианы, что говорит о приемлемой оценке по денежному потоку, но P/S и P/B выше медианы, поэтому по выручке и балансовой стоимости акция не выглядит дешёвой. Рентабельность капитала и активов сильная: ROE 22.71%, ROA 7.72% и ROI 11.78% существенно выше отрасли, а это поддерживает оценку бизнеса как эффективного в генерации доходности на капитал. При этом динамика маржинальности ухудшилась: operating margin и gross margin ниже своих более ранних уровней, что указывает на давление на операционную эффективность. Чистая маржа остаётся высокой относительно отрасли, но снижение операционной маржи и слабый operating income в последнем периоде делают качество текущей прибыли менее устойчивым. Долговая нагрузка выглядит повышенной: debt/equity более чем вдвое выше медианы, а long-term debt остаётся существенным, что добавляет риск для оценки в циклическом потребительском сегменте. Ликвидность, напротив, комфортная: current ratio 2.06 и quick ratio 1.50 выше отраслевых ориентиров, а cash on hand достаточен для краткосрочной устойчивости. Собственный капитал и net worth выглядят сильными относительно отрасли, что смягчает долговой риск, но не отменяет его. Выручка и валовая прибыль по последним данным остаются значительными, однако их траектория не выглядит уверенно растущей, а EBITDA и операционная прибыль демонстрируют неровную динамику. Отсутствие дивидендной доходности убирает один из возможных источников поддержки для инвестора. В целом фундаментал скорее оправдывает умеренно осторожный взгляд: качество бизнеса и рентабельность хорошие, но слабость EPS, давление на маржу и повышенный долг ограничивают потенциал переоценки.

Mattel, Inc.

Сильный индекс, без изменений. Быки в растерянности.

Strong index, flat. The bulls are confused.

Сильный индекс, незначительно вырос. Рынок на стороне быков.

Strong index, slightly up. The market is on the bulls' side.

Слабый индекс, незначительно упал. Приток средств в лонги остался положительным, но снизился.

Weak index, slightly down. The inflow of funds into longs remained positive, but decreased.

Сильная рентабельность и ликвидность Mattel сочетаются со слабой EPS, давлением на маржу и повышенным долгом, поэтому оценка выглядит лишь умеренно привлекательной.

Hasbro, Inc. HAS has been a notable outperformer in the toy and gaming space over the past year. The stock has surged 23.5%, significantly outpacing the industry’s modest 0.8% growth. While the broader S&P 500 has advanced 25.1% during the same period, Hasbro’s strong performance reflects growing investor confidence in its earnings trajectory, margin expansion efforts and long-term growth strategy.
Analysts have become increasingly optimistic about the company’s prospects. Over the past 60 days, the Zacks Consensus Estimate for 2026 earnings has increased to $6.01 per share from $5.66, while the 2027 estimate stands at $6.44. Earnings are projected to grow 8.5% in 2026 and another 7.2% in 2027. Revenues are expected to rise 5.9% and 5.1% in the respective years.
Image Source: Zacks Investment Research
The stock's rally has been driven by the continued strength of Wizards of the Coast, improving profitability, disciplined cost management and confidence in Hasbro’s ability to capitalize on its powerful portfolio of brands. Notably, the company has also outperformed key industry peers such as Mattel MAT and JAKKS Pacific JAKK.
Image Source: Zacks Investment Research
Wizards of the Coast Remains a Major Growth Engine
A key driver of Hasbro’s improving outlook is the exceptional performance of Wizards of the Coast, home to MAGIC: The Gathering and Dungeons & Dragons.
Hasbro kicked off 2026 on a strong note, reporting first-quarter revenue growth of 13% year over year to $1 billion. Adjusted earnings per share jumped 41% to $1.47, while adjusted operating profit increased 29%. Management credited much of this success to Wizards of the Coast, which delivered a 26% increase in revenues and a 29% rise in operating profit.
The momentum within MAGIC: The Gathering has been particularly impressive. Management highlighted that the "Lorwyn Eclipsed" release became the best-selling MAGIC Premier set in the franchise’s history. The subsequent "Secrets of Strixhaven" launch surpassed even that record, underscoring sustained consumer demand for the brand.
Beyond core releases, collaborations with popular franchises such as Teenage Mutant Ninja Turtles have attracted new players and expanded the game's audience. Management noted that MAGIC’s ecosystem continues to benefit from record engagement levels, growing organized play participation and strong backlist sales, providing confidence that the franchise's success is far from temporary.
Consumer Products Business Is Gaining Momentum
While Wizards continues to generate headlines, Hasbro’s Consumer Products segment is showing encouraging signs of recovery and growth.
Management reported positive point-of-sale trends during the first quarter and through April, supported by lean retailer inventories and improving market-share performance. The company continues to focus on its GEM2 strategy, targeting categories that are gamified, entertainment-driven, multi-purchase and multi-generational. These categories have consistently outperformed the broader toy market and helped Hasbro gain share in several key segments.
The company also has a favorable lineup of entertainment-driven opportunities ahead. Upcoming releases tied to Star Wars, Toy Story 5, Spider-Man and Avengers franchises are expected to support demand across Hasbro’s product portfolio. Additionally, innovations across brands such as Monopoly and Play-Doh should contribute to growth in the second half of the year.
Margin Expansion Strengthens the Investment Case
Hasbro’s earnings growth is not solely dependent on revenue expansion. The company is also benefiting from meaningful improvements in profitability.
Adjusted operating margin expanded 360 basis points year over year to 28.7% in the first quarter, supported by a favorable business mix and ongoing cost-saving initiatives. During the quarter, Hasbro generated $37 million in gross savings and remains on track to deliver $150 million in annual cost reductions.
The company also produced $338 million in operating cash flow, continued paying dividends and initiated share repurchases under its recently authorized buyback program. These actions demonstrate management’s commitment to enhancing shareholder value while maintaining financial flexibility.
Importantly, management maintained its full-year outlook despite macroeconomic uncertainty. Hasbro continues to expect revenue growth of 3-5%, adjusted operating margins of 24-25% and adjusted EBITDA of $1.4-$1.45 billion in 2026.
Valuation & Rising Estimates
The company is trading at a discount to the industry. It has a forward 12-month price-to-earnings ratio of 13.59X, well above the industry average of 9.82X. On the other hand, Mattel and JAKKS Pacific are trading at 10.41X and 12.45X.
P/E (F12M)
Image Source: Zacks Investment Research
Buy or Hold the Stock?
Hasbro appears well-positioned to build on its recent momentum. The company is benefiting from the exceptional strength of Wizards of the Coast, improving trends in Consumer Products, expanding margins and disciplined capital allocation.
The steady rise in earnings estimates suggests analysts are becoming increasingly confident in Hasbro’s growth prospects. At the same time, management continues to execute on its Playing to Win strategy, leveraging powerful intellectual property, expanding licensing opportunities and investing in high-return growth areas such as digital gaming.
Although the stock has already gained nearly 24% over the past year, the fundamentals continue to improve. With projected earnings growth, ongoing margin expansion and a Zacks Rank #1 (Strong Buy), Hasbro remains attractively positioned for investors. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Hasbro Stock Up 24% in a Year, Earnings Estimates Rise: Buy or Hold?

Hasbro, Inc.’s HAS flagship franchise, Magic: The Gathering (“MAGIC”), is rapidly evolving beyond its traditional tabletop roots to become a highly profitable, multi-platform ecosystem. The company’s first-quarter 2026 results highlighted the strength of this transformation, as sustained demand for MAGIC, record product launches, growing player engagement and expanding partnerships fueled strong performance across the Wizards of the Coast and Digital Gaming segment.
In the first quarter of 2026, Hasbro's Wizards of the Coast and Digital Gaming segment delivered revenues of $582 million, up 26% year over year. Magic: The Gathering was the key driver, with revenues rising 36%. The segment also generated an operating profit of $298 million and an operating margin of 51.2%, highlighting the profitability of Hasbro's gaming-led strategy.
Hasbro is also leaning harder into digital expansion. Management highlighted that MAGIC ARENA will feature full digital rights for the upcoming Marvel Super Heroes launch through its partnership with Disney. This is important because it brings Hasbro closer to a one-to-one ecosystem where players can buy physical cards and engage with the same content digitally.
The broader strategy is clear, using Universes Beyond partnerships, digital play, collectibility and social formats like Commander to bring more fans into MAGIC and keep them engaged across platforms. Management said Universes Beyond has been one of MAGIC's most successful new-player acquisition initiatives, while digital iterations of MAGIC are expected to lean further into collectibility, tradability and multiplayer experiences over the next few years.
The question for investors is whether this digital expansion can create a longer runway beyond the current surge in tabletop demand. So far, the signs are encouraging. MAGIC is driving revenue growth, margin expansion and stronger cash generation for Hasbro. If the company can successfully scale MAGIC ARENA and future digital experiences alongside its high-margin tabletop business, MAGIC could remain one of Hasbro's most important long-term growth pillars.
Key Competitors to Watch in Digital Gaming and Franchise Expansion
Two notable competitors to monitor as Hasbro expands the Magic: The Gathering ecosystem across digital gaming, entertainment and consumer products are Mattel, Inc. MAT and JAKKS Pacific, Inc. JAKK.
Mattel is increasingly pursuing a strategy that mirrors Hasbro’s efforts to transform iconic brands into multi-platform franchises. Management recently emphasized a brand-centric operating model designed to monetize intellectual property across toys, entertainment, digital gaming, mobile experiences and location-based attractions rather than relying solely on traditional toy sales. Mattel is leveraging franchises such as Barbie, UNO and Hot Wheels across digital platforms, with management highlighting strong consumer engagement for branded experiences on Roblox and Fortnite.
JAKKS Pacific is expanding aggressively through licensed entertainment properties, digital creator ecosystems and fan-driven merchandise. The company recently unveiled a large-scale Anime, Manga and Digital Creator platform designed to capitalize on one of the fastest-growing segments of global entertainment. Management expects the initiative to combine collectibles, merchandise, costumes, tech accessories and direct-to-consumer engagement while leveraging partnerships with major anime franchises and digital creators. Similar to Hasbro's Universes Beyond strategy, JAKKS Pacific is using established fan communities and entertainment brands to drive engagement across multiple product categories and distribution channels.
HAS’ Stock Price Performance & Valuation Trend
Shares of this games and toys manufacturer have gained 3.7% year to date, outperforming the Zacks Toys - Games - Hobbies industry and the broader Consumer Discretionary sector, but underperforming the S&P 500 Index.
Image Source: Zacks Investment Research
HAS stock is currently trading at a premium compared to its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 13.83, as evidenced by the chart below.
Image Source: Zacks Investment Research
Earnings Estimate Revision of HAS
HAS’ earnings estimates for 2026 and 2027 have trended upward in the past seven days to $5.96 and $6.42 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 7.6% and 7.7%, respectively.
Image Source: Zacks Investment Research
HAS stock currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Can Hasbro's Digital Push Unlock a New Growth Runway for MAGIC?

Key Points
Patient Capital sold 2,794,343 Mattel shares last quarter.
The quarter-end stake value fell by $55.44 million, reflecting what filings show was a full exit.
The Mattel sale represented a 1.86% shift in Patient Capital’s reported U.S. equity assets under management.
Patient Capital Management fully exited its position in Mattel (NASDAQ:MAT) during the first quarter, selling 2,794,343 shares in a trade estimated at $50.92 million based on quarterly average pricing, according to a May 14, 2026, SEC filing.
What happened
According to a SEC filing dated May 14, 2026, Patient Capital Management sold all 2,794,343 shares of Mattel during the first quarter. The sale’s estimated value was $50.92 million based on the average closing price over the quarter. The quarter-end change in position valuation, including price effects, was $55.44 million. The fund now holds no shares of Mattel.
What else to know
Top holdings after the filing:
NASDAQ: RPRX: $174.79 million (6.5% of AUM)
NYSE: C: $160.35 million (6.0% of AUM)
NASDAQ: GOOGL: $153.56 million (5.7% of AUM)
NASDAQ: AMZN: $136.30 million (5.1% of AUM)
NYSE: QXO: $131.64 million (4.9% of AUM)
As of May 13, 2026, shares of Mattel were priced at $14.82, down 24% over the past year and underperforming the S&P 500, which is up 28% in the same period.
Company Overview
Price (as of market close 2026-05-13)
$14.82
Market Capitalization
$4.38 billion
Revenue (TTM)
$5.38 billion
Net Income (TTM)
$498.92 million
Company Snapshot
Mattel produces toys, games, and children’s entertainment products under brands such as Barbie, Hot Wheels, Fisher-Price, and American Girl, with revenues primarily generated from global toy sales and licensing.
The company operates a diversified business model that includes direct-to-consumer sales, retail partnerships, and licensing arrangements with major entertainment franchises.
Primary customers include children and families worldwide, with products distributed through retailers, proprietary stores, online channels, and wholesale partners.
Mattel, Inc. is a leading global toy and children’s entertainment company with a broad portfolio of iconic brands and a significant international presence. Its strategy leverages brand strength, licensing partnerships, and multi-channel distribution to maintain a competitive edge in the consumer cyclical sector. Scale, brand recognition, and diversified revenue streams position Mattel as a key player in the global leisure and entertainment market.
What this transaction means for investors
Even after years of restructuring and the blockbuster success of Barbie, Mattel stock remains well below where many shareholders probably expected, or at least hoped, it to be.
The latest results were mixed. First-quarter net sales rose 4% to $862 million, driven by strong international growth and continued momentum at Hot Wheels, where gross billings climbed 17%. But Barbie gross billings fell 16%, Fisher-Price declined 12%, and gross margin contracted 450 basis points as tariffs, foreign exchange pressures, and inflation weighed on profitability.
Nevertheless, management remains optimistic. CEO Ynon Kreiz said consumer demand remained positive and highlighted progress in Mattel's digital strategy, including the acquisition of Mattel163 and the upcoming launch of two self-published mobile games. The company also repurchased $200 million of stock during the quarter and maintained its full-year outlook.
For long-term investors, the key question is whether Mattel can evolve from a toy maker into a broader entertainment and intellectual property company. The brands remain powerful, but the financial results suggest that the transition is still a work in progress. Investors who believe in the digital gaming and entertainment opportunity may see value here, but they'll need patience.
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Mattel Stock Is Down 24%. Here's What a $50.9 Million Exit Could Mean

Hasbro, Inc. HAS reported strong first-quarter fiscal 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased year over year.
Hasbro delivered a strong first-quarter 2026 performance, supported by robust growth in its Wizards and Digital Gaming business, particularly from MAGIC: THE GATHERING. Strong demand for new releases, continued momentum in backlist titles and contribution from Monopoly Go! helped drive revenue and profit growth.
However, performance was partially affected by weakness in the Entertainment segment due to unfavorable deal timing and softer Film & TV revenues. The Consumer Products segment also faced pressure from higher tariff-related costs, challenging licensing comparisons and seasonal losses.
HAS’ Q1 Earnings & Revenues
In first-quarter fiscal 2026, HAS reported adjusted earnings per share (EPS) of $1.47, rising 41.3% year over year and beating the Zacks Consensus Estimate of $1.12 by 31.3%.
Hasbro, Inc. Price, Consensus and EPS Surprise
Net revenues of $1 billion increased 12.7% from the year-ago period and topped the consensus mark of $957 million by 4.5%.
HAS’ Segment Results Highlight Portfolio Divergence
The quarter again showed a clear separation in performance across Hasbro’s operating segments. Wizards of the Coast and Digital Gaming delivered revenues of $582 million, up 26% year over year, benefiting from strength in tabletop gaming and continued expansion in the broader ecosystem. Our model predicted the segment’s revenues to be $526.8 million. Adjusted operating margin expanded 140 basis points to 51.2% from 49.8% in the year-ago quarter.
Consumer Products revenues were essentially flat at $397.9 million. Our model predicted the segment’s revenues to be $358.6 million. The adjusted operating margin was -10.2%, a 240-basis-point deterioration from -7.8% in the prior-year quarter.
Entertainment revenues decreased 24% to $20.3 million, reflecting the timing and nature of deals. Our model predicted the segment’s revenues to be $27 million. Adjusted operating margin was 100%, up 3,480 basis points from 65.2% a year ago.
Hasbro’s Profit Gains Reflect Operating Leverage
Profitability improved meaningfully on both a reported and adjusted basis. Adjusted operating profit increased 29% to $287 million, pointing to stronger underlying execution and mix, and adjusted operating margin rose to 28.7% from 25.1%.
The company reported adjusted EBITDA of $339.4 million compared with $274.3 million a year ago. Our estimate for the metric was $288.6 million.
Selling, distribution and administration expenses declined to $259.1 million from $269.6 million in the prior-year quarter, contributing to stronger operating leverage as revenues grew.
HAS’ Balance Sheet and Capital Allocation Remain Active
Liquidity improved year over year, with cash and cash equivalents of $857.1 million at quarter-end versus $621.1 million a year earlier. The company also carried $498.2 million in short-term investments, lifting overall financial flexibility entering the remainder of 2026. Leverage moved lower versus the prior year. As of March 29, 2026, long-term debt was $3.1 billion, down from $3.3 billion as of March 30, 2025.
Capital returns continued, alongside balance-sheet actions. Hasbro paid $99 million in dividends during the quarter to its shareholders. The company also declared a quarterly cash dividend of 70 cents per share payable June 11, 2026. Separately, Hasbro disclosed previously identified unauthorized network access in late March 2026 and said it began incurring related costs in the second quarter while pursuing potential recoveries through cybersecurity insurance.
Hasbro’s 2026 Outlook Holds Steady After Strong Q1
For the full year, management reiterated its outlook for total Hasbro revenues to increase 3-5% in constant currency, with adjusted operating margin expected at 24-25% and adjusted EBITDA projected between $1.40 billion and $1.45 billion.
HAS’ Zacks Rank
Hasbro currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Royal Caribbean Cruises Ltd. RCL reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, Royal Caribbean reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation H reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted EPS of 63 cents, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. MAT reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. Mattel posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
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Hasbro Beats Q1 Earnings Estimates on Wizards Mix and Scale

American Public Education, Inc. APEI reported better-than-expected first-quarter 2026 results, with adjusted earnings and total revenues beating the Zacks Consensus Estimate. Both the metrics grew year over year.
The quarter’s performance was supported by higher Military+ course activity and continued Health+ enrollment gains, helping lift profitability across key metrics.
APEI’s Q1 Discussion
APEI reported adjusted earnings per share (EPS) of 94 cents, up 129.3% year over year, and surpassed the Zacks Consensus Estimate of 61 cents by 55.1%.
American Public Education, Inc. Price, Consensus and EPS Surprise
Total revenues increased 6.2% year over year to $174.7 million and edged past the consensus estimate of $174 million by 0.5%. Performance was supported by higher Military+ course activity and continued Health+ enrollment gains, helping lift profitability across key metrics.
APEI’s Q1 Discussion Shows Strong Operating Improvement
Profitability expanded meaningfully in the quarter as operating performance outpaced cost growth. Adjusted EBITDA increased 37.5% year over year to $29.2 million from $21.2 million. Adjusted EBITDA margin expanded to 17% from 13%, reflecting stronger operating leverage on higher revenues.
Total costs and expenses in the first quarter of 2026 were $153.1 million, up 0.5% year over year. Instructional costs and services edged down to $74.6 million from $74.9 million, while selling and promotional expenses increased to $37.9 million from $35.2 million.
American Public’s Segment Discussion
American Public’s Segments Deliver Broad-Based Growth
Performance was supported by growth across both operating segments. Military+ revenues increased 6.5% year over year to $89.4 million, driven by higher registration activity. Segment EBITDA rose to $31.8 million from $25.2 million a year ago, with EBITDA margin expanding to 36% from 30%.
Health+ revenues advanced 11% year over year to $85.4 million, reflecting higher enrollment and pricing actions implemented in the second half of 2025. Segment EBITDA improved to $3.2 million from $1.9 million in the year-ago quarter, and EBITDA margin increased to 4% from 2%.
APEI Highlights Demand Indicators Across Both Portfolios
Military+ posted approximately 106,600 net course registrations in the quarter, up from roughly 102,500 a year earlier. Management noted the residual impact of the government shutdown remained limited to the U.S. Coast Guard and was resolved late in April, helping keep disruption contained.
Health+ total student enrollment increased to about 19,400 from 18,000 in the prior-year quarter. During the period, the company opened a new Rasmussen University campus in Orlando, FL, bringing its Practical Nursing Diploma program to the Orlando market.
APEI Builds Liquidity and Steps Up Capital Actions
APEI ended the quarter with total cash, cash equivalents and restricted cash of $221 million, up from $176.5 million at the end of 2025. Cash flows from operations improved sharply, with net cash provided by operating activities increasing 71.1% year over year to $63.3 million.
The company also moved to optimize its capital structure and shareholder returns. In March, APEI refinanced its debt, cutting its borrowing rate by 375 basis points at then-current leverage levels and targeting about $3.7 million in annual interest savings excluding debt cost amortization. The board authorized a new share repurchase program of up to $50 million, and the company repurchased 17,840 shares through the end of the first quarter.
American Public Raises 2026 Outlook
Following the quarter’s execution, management raised its full-year 2026 guidance for revenues and adjusted EBITDA. The company now expects revenues of $686-$696 million, compared with its prior outlook of $685-$695 million and up from $648.9 million reported in 2025. Adjusted EBITDA is projected in the range of $93-$102 million versus the earlier expectation of $91.5-$100.5 million, reflecting growth from $85.7 million in 2025.
Management also increased its EPS guidance to $2.33-$2.68 from the previous range of $2.15-$2.47. The updated outlook implies significant improvement from the earnings of $1.36 per share reported in 2025. Meanwhile, capital expenditures are still expected between $28 million and $32 million, higher than the $15.9 million invested in 2025.
For the second quarter of 2026, revenues are expected to be $170-$172 million, with net income available to common stockholders projected at $6.5-$7.5 million. The company also anticipates diluted earnings per share of 34-39 cents, alongside Military+ net registrations of 98,300-100,300 and Health+ enrollment of about 19,600. Adjusted EBITDA is expected to be in the band of $16.5-$18.0 million.
APEI’s Zacks Rank & Peer Releases
American Public currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Consumer Discretionary Releases
Royal Caribbean Cruises Ltd. RCL reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation H reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. MAT reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

American Public Q1 Earnings & Revenues Top Estimates, 2026 View Raised

Wynn Resorts, Limited WYNN reported first-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management noted the company’s strength across markets. Las Vegas delivered another quarter of EBITDAR growth and continued gains in gaming market share, while Macau saw a meaningful increase in gaming volumes year over year alongside healthy market share.
WYNN’s Q1 Earnings & Revenues
The company reported adjusted earnings per share (EPS) of $1.25, beating the Zacks Consensus Estimate of $1.18 by 5.9%. In the prior-year quarter, the company reported an adjusted EPS of $1.07.
Wynn Resorts, Limited Price, Consensus and EPS Surprise
Quarterly operating revenues of $1.86 billion topped the consensus mark of $1.81 billion by 2.2%. The top line increased by 9.2% year over year.
WYNN’s Q1 Profitability Improves Amid Elevated Expense Levels
On a reported basis, net income attributable to Wynn Resorts increased to $120.5 million in the first quarter compared with $72.7 million reported in the year-ago quarter. Our model projected the metric to be $57.5 million.
Operating income in the first quarter advanced to $282.6 million from $268.6 million, reported in the prior-year quarter. Our model projected the metric to be $241.7 million.
Adjusted Property EBITDAR totaled $562.4 million, up from $532.9 million a year ago, and the earnings presentation indicated a quarterly EBITDAR margin of 30.3%. Cost items also moved higher in several areas, including depreciation and amortization of $160.5 million and gaming taxes of $514.5 million, while interest expense (net of amounts capitalized) was $152.4 million.
Wynn Resorts Benefits From Wynn Palace Momentum
Wynn Palace generated operating revenues of $659.3 million in the first quarter, rising $123.4 million from the prior-year period. The year-over-year increase was primarily driven by stronger gaming performance, alongside improvement across non-gaming categories. Our model projected first-quarter Wynn Palace revenues to be $572.9 million.
Profitability strengthened in tandem with the revenue gains. Adjusted Property EBITDAR at Wynn Palace rose to $203.8 million from $161.9 million a year earlier. Mass-market table games’ win percentage increased to 26.6% from 24.8%, while the VIP win rate was 3.11%, within the property’s expected 3.1% to 3.4% range.
WYNN’s Wynn Macau Results Reflect Unfavorable Hold
Wynn Macau posted operating revenues of $329.9 million in the first quarter, essentially unchanged from $330.0 million in the year-ago quarter. Our model projected first-quarter Wynn Macau revenues to be $326 million. While revenue trends were stable, profitability was constrained by weaker win rates relative to the prior-year period.
Adjusted Property EBITDAR declined to $75.6 million from $90.2 million a year ago. Mass-market table games’ win percentage decreased to 15.1% from 18.7%, and VIP win as a percentage of turnover fell to 0.39%, below the property’s expected range of 3.1% to 3.4%.
Wynn Resorts Sustains Premium Positioning in Las Vegas
Las Vegas Operations delivered operating revenues of $661.9 million in the first quarter, up $36.6 million year over year. Management attributed the performance to continued market share gains and ongoing investment in the property’s amenity set and customer experience. Our model predicted the first-quarter segment revenues to be $662.4 million.
Adjusted Property EBITDAR for Las Vegas Operations increased to $232.5 million from $223.4 million a year ago. Operational metrics in the earnings presentation showed RevPAR of $506, up 9.8% year over year, while table games win percentage was 25.2%, within the property’s expected range and above the prior-year level of 24.3%.
WYNN Continues Capital Returns and Funds for UAE Development
WYNN declared a cash dividend of $0.25 per share, payable May 29, 2026. The company also repurchased 528,667 shares during the quarter for $53.8 million at an average price of $101.72 per share, and it ended the quarter with $401.1 million remaining under its repurchase authorization.
Liquidity and development funding remained in focus. Cash and cash equivalents totaled $1.19 billion at March 31, 2026, excluding $607.6 million of short-term investments held by Wynn Macau, Limited, while total current and long-term debt outstanding was $10.52 billion. During the quarter, the company contributed $100.1 million to the Wynn Al Marjan Island joint venture, bringing life-to-date cash contributions to $1.01 billion, with the project expected to open in 2027.
WYNN’s Zacks Rank
Wynn Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary Releases
Royal Caribbean Cruises Ltd. RCL reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation H reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. MAT reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wynn Resorts Q1 Earnings & Revenues Beat Estimates, Rise Y/Y

Norwegian Cruise Line Holdings Ltd. NCLH reported first-quarter 2026 results, with earnings beating the Zacks Consensus Estimate while revenues missed the same. The top and bottom lines improved on a year-over-year basis.
Following the results, the company’s shares declined 6.1% in today’s pre-market trading session. Investor sentiment was impacted by softer booking trends and macroeconomic pressures, including geopolitical uncertainties affecting travel demand.
NCLH’s Q1 Earnings & Revenues
Norwegian Cruise reported adjusted earnings per share (EPS) of 23 cents, beating the Zacks Consensus Estimate of 15 cents by 53.3%. In the prior-year quarter, the company reported adjusted EPS of 10 cents.
Quarterly revenues of $2.33 billion missed the consensus mark of $2.34 billion by 0.5%. The metric increased 9.6% year over year.
Norwegian Cruise Line Holdings Ltd. Price, Consensus and EPS Surprise
Norwegian Cruise Line Holdings Ltd. price-consensus-eps-surprise-chart | Norwegian Cruise Line Holdings Ltd. Quote
Passenger ticket revenues were $1.54 billion compared with $1.42 billion reported in the prior-year quarter. Our model anticipated passenger ticket revenues to be $1.60 billion.
Onboard and other revenues increased to $788.9 million from $708.9 million reported in the prior-year quarter. We expected onboard and other revenues to be $722.7 million.
NCLH’s Expenses & Operating Results
Total cruise operating expenses in the first quarter increased to $1.38 billion from $1.30 billion reported in the prior-year quarter. Our model anticipated total cruise operating expenses to be $1.38 billion.
During the quarter, gross cruise costs per Capacity Day were approximately $287 compared with $297 reported in the prior-year period. Adjusted net cruise costs (excluding fuel) per Capacity Day amounted to about $169 on an as-reported basis.
Net interest expenses were $166 million, down from $217.9 million reported in the year-ago quarter.
NCLH’s Operating Performance Metrics
Capacity Days increased to 6.39 million from 5.70 million reported in the prior-year quarter. Passenger Cruise Days rose to 6.63 million from 5.79 million.
Occupancy reached 103.8%, up from 101.5% reported in the prior-year period, reflecting strong onboard demand and improved fleet utilization.
Gross margin per Capacity Day increased 4% year over year, while Net Yield declined approximately 0.3% on an as-reported basis.
NCLH’s Balance Sheet
As of March 31, 2026, the company had cash and cash equivalents of $185 million, down from $209.9 million at the end of 2025. Total debt was $15.2 billion.
Net debt stood at approximately $15 billion, with net leverage at 5.3x. Liquidity was $1.6 billion, including availability under its revolving credit facility.
Booking Update of NCLH
The company continues to operate below its optimal booking range, impacted by execution gaps and softer demand trends. Heightened geopolitical uncertainty, particularly related to Middle East tensions, has affected travel demand, especially in Europe.
While near-term bookings remain pressured, the company is implementing targeted actions to better align its commercial strategy with deployment and improve revenue management execution. These initiatives are expected to support gradual improvement over time.
Q2 & 2026 Guidance by NCLH
For second-quarter 2026, NCLH anticipates occupancy to be approximately 102.5% and Capacity Days to be about 6.6 million. Adjusted EBITDA is expected to be approximately $632 million, while adjusted EPS is projected at 38 cents.
For 2026, the company expects Capacity Days of approximately 26.25 million. Adjusted EBITDA is anticipated in the range of $2.48 billion to $2.64 billion, lower than the prior expectation of nearly $2.95 billion.
Adjusted EPS for 2026 is projected between $1.45 and $1.79, down from the earlier expectation of $2.38, indicating ongoing macroeconomic headwinds, including higher fuel costs and softer booking trends.
NCLH’s Zacks Rank & Recent Consumer Discretionary Releases
Norwegian Cruise currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Royal Caribbean Cruises Ltd. RCL reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation H reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. MAT reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Norwegian Cruise Q1 Earnings Beat Estimates, Revenues Miss, Stock Down

Mattel, Inc. MAT reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels.
The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter.
Mattel, Inc. Price, Consensus and EPS Surprise
Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year. Gross billings, a key demand indicator in the toy industry, rose 2% year over year in constant currency to $972 million, led by Vehicles' momentum.
MAT Sees International Growth Cushion U.S. Softness in Q1
Segment results reflected a clear geographic split in the first quarter. International net sales rose 15% year over year to $387.0 million, driven by broad-based growth across EMEA, Latin America and Asia Pacific. Management also cited positive consumer demand trends, with global point-of-sale up mid-single digits.
North America remained pressured. Net sales declined 3% year over year to $475.1 million, down from $491.4 million a year ago. Management attributed the softness primarily to U.S. retailer ordering patterns shifting from direct import to domestic shipping, while noting those patterns appear to be stabilizing and expecting the region to return to growth in the second quarter.
Mattel Vehicles Lead Growth as Dolls and ITPS Weaken
Category performance again highlighted Vehicles as the primary engine. Worldwide gross billings for Vehicles increased 17% year over year to $361 million, or 13% in constant currency, supported by continued momentum in Hot Wheels. Management also pointed to double-digit growth for Hot Wheels and Disney and Pixar’s Cars within the Vehicles portfolio.
Other categories trended lower. Dolls gross billings declined 8% year over year to $272 million, primarily due to lower Barbie results, partially offset by Monster High. Infant, Toddler and Preschool gross billings fell 16% year over year to $106 million, reflecting weaker Fisher-Price performance, though Little People delivered double-digit growth. Action Figures, Building Sets, Games and Other increased 21% year over year to $233 million, aided by Games growth (including a partial-quarter contribution from Mattel163), strength in Action Figures tied to owned and partner properties, and continued expansion of Mattel Brick Shop.
MAT’s Q1 Margin Slides on Tariffs, FX & Inflation Headwinds
Profitability deteriorated despite the stronger net sales performance. Adjusted gross margin declined 450 basis points year over year to 45.1%, reflecting a higher cost environment and limited near-term offsets.
Management quantified the year-over-year pressure as 240 basis points from the gross incremental cost of tariffs, 140 basis points from unfavorable foreign exchange and 90 basis points from inflation. Tariff mitigation actions and savings initiatives provided partial relief, but the net impact weighed on gross profit in the quarter. Mattel reiterated its expectation for sequential improvement as the year progresses, with the second quarter still below 50% and stronger margin performance anticipated in the second half.
Mattel’s Expenses Rise With Marketing and Strategic Spend
Operating costs moved higher as Mattel invested in brands and growth platforms. Advertising and promotion expense increased $23.0 million year over year to $92.9 million, reflecting the timing of Easter and the inclusion of Mattel163 expenses.
SG&A also rose as strategic initiatives ramped. On an adjusted basis, SG&A increased $19.0 million to $366.3 million, which management attributed primarily to the company’s strategic investments. Mattel reiterated its plans for approximately $150 million of investments in 2026 to accelerate growth and profitability across self-published mobile games, building sets, DTC, first-party data, and technology and infrastructure. The company also highlighted ongoing progress integrating Mattel163 and pointed to an entertainment slate that includes the global theatrical release of Masters of the Universe on June 5.
MAT’s Cash Flow Weakens on Mattel163 and Buybacks
Cash generation turned negative in the quarter as the company executed on capital allocation priorities. Cash flows used in operating activities totaled $22.9 million, against an inflow of $24.8 million reported in the year-ago period.
Investing activity was also elevated. Cash flows used in investing activities were $143.6 million, primarily tied to cash paid for the Mattel163 acquisition (net of cash acquired) and higher capital expenditures.
Capital spending increased to $65.1 million, resulting in free cash flow of negative $88.1 million. Mattel repurchased $200 million of shares during the quarter and reiterated its target of $400 million in repurchases for 2026, while ending the period with $866 million of cash and equivalents and $2,332.8 million of long-term debt. Inventory was $676.9 million at quarter’s end, a modest increase year over year that management linked to tariff-related costs.
MAT Reaffirms 2026 Outlook as Q2 Shipping Accelerates
Management reaffirmed its 2026 outlook, projecting net sales growth of 3% to 6% in constant currency. The company also expects adjusted gross margin to be approximately 50% for the full year, with sequential improvement through 2026 and stronger performance in the second half.
On a recast basis, Mattel guided to adjusted operating income of $580 million to $630 million and adjusted earnings of $1.27 to $1.39 per share, with an adjusted tax rate of approximately 24%. Management also pointed to top-line acceleration early in the second quarter, supported by stronger shipping trends and expectations that U.S. ordering patterns will stabilize, as the company advances its IP-driven play and family entertainment strategy alongside continued integration of Mattel163.
MAT’s Zacks Rank & Key Picks
MAT currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are GDEV Inc. GDEV, Accel Entertainment, Inc. ACEL and Take-Two Interactive Software, Inc. TTWO.
GDEV presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The company delivered a trailing four-quarter earnings surprise of 262.7%, on average. The consensus estimate for GDEV’s 2026 sales and EPS implies growth of 6.4% and 23.8%, respectively, from the year-ago levels.
Accel Entertainment carries a Zacks Rank #2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 23.4%, on average.
The consensus estimate for Accel Entertainment’s 2026 sales and EPS implies growth of 5.1% and 15%, respectively, from the year-ago levels.
Take-Two Interactive carries a Zacks Rank #2 at present. The company delivered a trailing four-quarter earnings surprise of 58.9%, on average.
The Zacks Consensus Estimate for Take-Two Interactive’s 2026 sales and EPS indicates growth of 18.2% and 90.7%, respectively, from the year-ago levels.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Mattel Q1 Earnings Beat Estimates on Vehicles-Led Net Sales

(RTTNews) - Mattel, Inc. (MAT) reported its first-quarter earnings on Wednesday for the period ending March 31, 2026.
The toy manufacturing company achieved a net income of $61 million, reversing a net loss of $40.3 million from the same quarter in the prior year.
Earnings per share reached $0.20, compared to a loss of $0.12 per share in the prior year period. Net sales climbed to $862.2 million from $826.6 million a year ago.
MAT is currently trading after hours at $15.03, up $0.14 or 0.94 percent on the Nasdaq.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Mattel Swings To Profit In Q1

(RTTNews) - Mattel Inc. (MAT) will host a conference call at 5:00 PM ET on April 29, 2026 , to discuss Q1 26 earnings results.
To access the live webcast, log on to https://investors.mattel.com/events-and-presentations/default.aspx?EventTitle=Mattel-Inc-First-Quarter-2025-Earnings-Conference-Call
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Mattel, Inc.

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