Mattel (MAT) reported Q3 adjusted earnings late Tuesday of $0.89 per diluted share, down from $1.14 per share a year earlier.

Analysts polled by FactSet expected $1.06.

Net sales for the quarter ended Sept. 30 fell to $1.74 billion from $1.84 billion a year earlier.

Analysts surveyed by FactSet expected $1.83 billion.

For 2025, the company said it continues to expect adjusted EPS of $1.54 to $1.66.

Analysts polled by FactSet expect $1.61.

Mattel said it bought back $202 million worth of shares during the quarter and remains on pace to repurchase $600 million for the year.

Shares of Mattel were down more than 4% in after-hours activity.