Spin Master (TOY) Q1 Revenue Down 9% with Cash Flow at $103M

Spin Master (TSE:TOY) reported Q1 revenue of $316 million, a 9% decrease year-over-year, attributed to tough prior-period order timing. Operating cash flow improved to $103 million, while net leverage dropped to approximately 0.9x after $40 million in debt repayment. Revenue from entertainment rose 8%, with notable growth from brands like PAW Patrol. The company reiterated its 2026 guidance for stable-to-low single-digit revenue growth and flagged potential oil-linked cost exposure of about $15 million amidst ongoing macroeconomic uncertainty.