Mattel says raising FY24 savings target to $75M from $60M

Says expects growth in Q4. Says meaningful expansion in gross margin fully offset the Barbie movie comparison in its bottom line relative to the prior year. Says priorities this year are to grow profitability, expand gross margin and generate strong cash flow. Says expects to gain market share in the fourth quarter and full year. Says toy industry continued to perform better than first anticipated heading into 2024. Says expects a good holiday season. Says expects to continue share repurchases. Comments and guidance taken from Q3 earnings conference call.