The company sees revenue growing in the mid-single digits from the $4.58 billion seen in 2020.
Shares of toymaker Mattel rose as much as 4% on Wednesday as the company outlined its plans for 2021 and beyond.
As part of the company’s investor day presentation, the toy maker unveiled expectations for growth this year and laid out its forecasts for 2022 and 2023.
For 2021, Mattel expects adjusted EBITDA to range between $775 million and $800 million. That would be an increase from $719 million last year.
The company said it sees revenue growing in the mid-single digits from the $4.58 billion seen in 2020 and estimates sales will grow at a similar pace in 2022 and 2023. The company also sees operating income margin staying in the mid-teens through 2023.
Mattel also expects cost savings of $250 million by 2023. The company cut costs by $1 billion between 2018 and 2020.
