Hot Wheels and Action Figures Help Drive Mattel Sales Growth

Hot Wheels and action figures were among the strongest-performing parts of Mattel’s business during the second quarter of 2026. Mattel reported worldwide gross billings of $463 million for its vvehicles category, an increase of 14 percent compared with the same quarter last year. The company said the growth was primarily driven by Hot Wheels. On a constant-currency basis, Vehicles gross billings increased 11 percent.

Mattel’s category containing Action Figures, Building Sets, Games and Other recorded an even larger increase. Worldwide gross billings for the category reached $358 million, up 35 percent as reported and 33 percent in constant currency.

Mattel attributed the increase primarily to growth in Games, including the contribution from its Mattel163 digital games business, and action figures connected to theatrical releases. The company did not identify the specific action figure brands or movies responsible for the increase.

The results contrasted with declines in several other Mattel categories.

Worldwide gross billings for Dolls fell 5 percent to $318 million, primarily because of a decline in Barbie. The Infant, Toddler and Preschool category declined 11 percent to $128 million, primarily because of lower Fisher-Price billings.

Across the company, Mattel reported second-quarter net sales of $1.125 billion, an increase of 10 percent as reported and 9 percent in constant currency. North American net sales increased 12 percent, while international net sales rose 9 percent as reported.

Despite the higher sales, Mattel reported an $18 million net loss for the quarter, compared with net income of $53 million during the same period last year. Operating income declined to $11 million from approximately $79 million. Mattel attributed the decrease primarily to higher advertising and administrative expenses and a lower gross margin, partially offset by increased net sales.

Mattel said its gross margin declined to 48.2 percent from 50.9 percent. The company cited tariffs, inflation, higher royalty costs and unfavorable foreign exchange as the primary reasons for the decrease. The company maintained its full-year 2026 guidance, including expected net sales growth of 3 percent to 6 percent in constant currency.

Mattel’s results show continued momentum for Hot Wheels and action figures, although the earnings release does not separate collector-focused products from toys sold to the broader consumer market.