Benzinga | Jul 27, 2021 04:08PM EDT

UPDATE: Mattel CEO Says 'We are pleased to raise guidance as we continue to improve profitability and accelerate topline growth,' Co Plans To Provide Guidance On Conference Call

Anthony DiSilvestro, CFO of Mattel said: "Mattel continued its strong performance this quarter, with substantial gains in net sales, further expansion of gross margin, and more than quadrupling our Adjusted EBITDA. We are meaningfully increasing our cash flow generation and free cash flow conversion as well as strengthening the balance sheet. We are pleased to raise guidance as we continue to improve profitability and accelerate topline growth."