Mattel Inc ( MAT ) reported financial results for the first quarter after the market close on Monday. Shares are moving lower after the company paused guidance. Here’s what you need to know.

Q1 Earnings: Toymaker Mattel reported first-quarter revenue of $827 million, beating analyst estimates of $786.01 million. The company reported a first-quarter adjusted loss of three cents per share, beating estimates for a loss of 10 cents per share, per Benzinga Pro.

Total revenue was up 2% year-over-year, driven by a 3% increase in North America and a 1% increase in International. The company reported a first-quarter gross margin of 49.4%, up from 48% in the prior year’s quarter.

Mattel ( MAT ) repurchased $160 million worth of shares in the quarter and ended the period with approximately $1.24 billion in cash and cash equivalents. The company said it was maintaining its $600 million share repurchase target for 2025.

“This was a strong quarter for Mattel ( MAT ), with positive performance and continued operational excellence. Our brands are thriving, our products and experiences stand out in the marketplace, and our balance sheet gives us resilience and flexibility to execute our strategy,” said Ynon Kreiz, chairman and CEO of Mattel ( MAT ).

“As we navigate the current period of macro-economic volatility, we are adapting with speed, agility, and discipline. We expect not only to manage through this period but strengthen our competitive position.”

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Mattel ( MAT ) said it will take mitigating actions designed to fully offset the potential incremental cost impact of tariffs on future performance, including accelerating diversification of its supply chain, optimizing product sourcing and mix and taking pricing actions where necessary.

The company also announced plans to accelerate cost savings and is increasing its 2025 savings target from $60 million to $80 million.

Mattel ( MAT ) said it will pause its full-year 2025 guidance, given the “volatile macro-economic environment and evolving U.S. tariff landscape.” The company noted that it will provide guidance again when it has “sufficient visibility.”

Mattel ( MAT ) executives are discussing details from the quarter on a conference call that kicked off at 5 p.m. ET.

MAT Price Action: Mattel ( MAT ) shares were down 2.47% in Monday’s after-hours session, trading at $15.80 at the time of publication, according to Benzinga Pro.