Mattel leverage ratio increases to 3.1x, but expected to fall to 2.5x

By Devika Patel

Knoxville, Tenn., July 27 – Mattel, Inc. saw its total debt to adjusted EBITDA leverage ratio rise to 3.1x at the end of the last quarter, but management expects to get the leverage ratio down to 2.5x by the end of the year.

“Our leverage ratio increased to 3.1x at the end of the second quarter, compared to 2.3x a year ago,” chief financial officer Anthony DiSilvestro said on the company’s second quarter ended June 30 earnings conference call on Wednesday.

“The increase is primarily due to the timing of our quarterly results.

“We expect to end 2023 with a leverage ratio of approximately 2.5x,” he said.

Mattel is a Hawthorne, Calif.-based toy manufacturer.

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