LOS ANGELES, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hasbro, Inc. ("Hasbro" or the "Company") (NASDAQ:HAS) investors of a class action representing investors that bought securities between February 7, 2022 to October 25, 2023, inclusive (the "Class Period"). Hasbro investors have until January 13, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or ...

NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the common stock of Hasbro, Inc. (“Hasbro” or the “Company”) (NASDAQ: HAS) between February 7, 2022 and October 25, 2023, inclusive. For more information, submit a form at Hasbro, Inc. Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at pallocco@bernlieb.com, or call us at (21 ...

SAN DIEGO, Nov. 14, 2024 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Hasbro, Inc. (NASDAQ: HAS) common stock between February 7, 2022 and October 25, 2023, inclusive (the "Class Period"), have until January 13, 2025 to seek appointment as lead plaintiff of the Hasbro class action lawsuit. Captioned West Palm Beach Firefighters' Pension Fund v. Hasbro, Inc., No. 24-cv-08633 (S.D.N.Y.), the Hasbro class action lawsuit charges Hasbro and certain of Hasbro's top ...

SAN DIEGO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that the Hasbro class action lawsuit seeks to represent purchasers of Hasbro, Inc. (NASDAQ: HAS) common stock between February 7, 2022 and October 25, 2023, inclusive (the “Class Period”). Captioned West Palm Beach Firefighters’ Pension Fund v. Hasbro, Inc., No. 24-cv-08633 (S.D.N.Y.), the Hasbro class action lawsuit charges Hasbro and certain of Hasbro’s top current and former executives with violations of the Securitie ...

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Hasbro, Inc. (HAS) reported mixed third-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line declined year over year while the bottom line increased from the prior year's quarter figure. Following the results, the stock fell 3.6% in the pre-market trading session on Oct. 24.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Earnings & RevenuesIn third-quarter 2024, HAS reported adjusted earnings per share (EPS) of $ ...

Financial Data and Key Metrics Changes - Total Hasbro revenue for Q3 2024 was $1.3 billion, down 15% year-over-year. Excluding the eOne divestiture, total revenue was down 9% [17] - Adjusted operating profit was $329 million, with an adjusted operating margin of 25.7%, up 2.9 points from the previous year [17] - Q3 adjusted net earnings were $244 million, with diluted earnings per share of $1.73, an increase of $0.09 from the prior year [18] - Year-to-date total revenue was approximately $3 billion, down 18% compared to the same period last year, with adjusted operating profit at $726 million and an adjusted operating margin of 23.9%, up approximately 10 points year-over-year [18][19] Business Line Data and Key Metrics Changes - The Wizards segment revenue declined 5% in Q3, with Magic: The Gathering growing 3% due to new releases [19] - Consumer Products revenue declined 10%, driven by exited brands and reduced closeouts, although there was growth in licensed consumer products [20] - The Entertainment segment saw an 86% decline due to the eOne divestiture, with adjusted operating margin for Consumer Products at 15.1%, up 3.9 points compared to last year [17][21] Market Data and Key Metrics Changes - The toy industry, excluding building blocks, is expected to decline low single digits to low mid-single digits, with Hasbro's POS down high single digits year-to-date, but expected to improve in Q4 [54] - Retail sentiment remains positive ahead of the holiday season, with strong support from retail partners [56] Company Strategy and Development Direction - Hasbro is focusing on digital, licensing, and product innovation to drive profitability and cash flow, with a strategic shift towards games and IP licensing [4][12] - The company is prioritizing profitable revenue, reducing closeout volume, and enhancing supply chain productivity [15][20] - Future growth is anticipated from collaborations with Marvel and new product launches in the gaming segment [10][63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term health of brands like Magic and D&D, with a solid return to profitability expected in 2024 and beyond [4][12] - The company is lowering its full-year revenue guidance for Consumer Products but expects improved profitability and cash flow [4][23] - Management noted that while Q4 will see a decline in revenue, they anticipate a stabilization in the Consumer Products business [23] Other Important Information - Hasbro's inventory is at multi-year lows, down 40% year-over-year, contributing to improved gross margins [15] - The company is on track to achieve $750 million in gross cost savings through 2025, with $240 million delivered in the first nine months of the year [24] Q&A Session Summary Question: Monopoly Go! marketing and revenue expectations - Management indicated confidence in maintaining a $10 million monthly royalty revenue from Monopoly Go!, despite download declines, due to strong user engagement and marketing strategies [26][27] Question: Consumer Products guidance and POS expectations - The guidance for Consumer Products was adjusted down due to closeout volume and weaker performance from entertainment-backed brands, but POS expectations remain stable [30][31] Question: Impact of exited brands on revenue - Approximately $25 million in revenue impact from exited brands was noted for both Q3 and Q4, with expectations for improvement in 2025 as the impact diminishes [37][38] Question: Future of Baldur's Gate 3 and Magic: The Gathering - Management expects continued revenue from Baldur's Gate 3 and anticipates a decline for Magic in Q4 due to set timing, but overall growth for Magic is expected in 2025 [44][45] Question: Retail sentiment and holiday season expectations - Retail sentiment is positive, with expectations for modest declines in the toy industry, while specific brands like Play-Doh and Beyblade are highlighted as strong performers for the holiday season [56][58]

Hasbro (HAS) reported $1.28 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 14.8%. EPS of $1.73 for the same period compares to $1.64 a year ago.The reported revenue represents a surprise of -1.09% over the Zacks Consensus Estimate of $1.3 billion. With the consensus EPS estimate being $1.31, the EPS surprise was +32.06%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Hasbro (HAS) came out with quarterly earnings of $1.73 per share, beating the Zacks Consensus Estimate of $1.31 per share. This compares to earnings of $1.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 32.06%. A quarter ago, it was expected that this toy maker would post earnings of $0.77 per share when it actually produced earnings of $1.22, delivering a surprise of 58.44%.Over the last four quarters, the company has surp ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Hasbro (HAS) , which belongs to the Zacks Toys - Games - Hobbies industry, could be a great candidate to consider.This toy maker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 92.18%.For the most recent quarter, Hasbro was expected to post ear ...