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 ...

Group 1 - Hasbro has consistently beaten earnings estimates, with an average surprise of 92.18% over the last two quarters [1] - In the most recent quarter, Hasbro reported earnings of $1.22 per share, exceeding the expected $0.77 per share by 58.44% [1] - For the previous quarter, Hasbro's earnings of $0.61 per share surpassed the consensus estimate of $0.27 per share, resulting in a surprise of 125.93% [1] Group 2 - Recent estimates for Hasbro have been moving higher, indicating positive sentiment among analysts [2] - Hasbro has a positive Earnings ESP of +0.47%, suggesting analysts are optimistic about the company's earnings prospects [3] - The next earnings report for Hasbro is expected to be released on October 24, 2024 [3] Group 3 - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [2] - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [3] - A negative Earnings ESP does not necessarily indicate an earnings miss, but it reduces the predictive power of the metric [3]

Hasbro, Inc. (HAS) is scheduled to report third-quarter fiscal 2024 results on Oct. 24, 2024, before the opening bell. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 58.4%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Q3 EstimatesThe Zacks Consensus Estimate for earnings is pegged at $1.34 per share, indicating a decline of 18.3% from $1.64 reported a year ago.For revenues, the consensus estimate is pegged at $1.30 billion, suggestin ...

Wall Street analysts forecast that Hasbro (HAS) will report quarterly earnings of $1.34 per share in its upcoming release, pointing to a year-over-year decline of 18.3%. It is anticipated that revenues will amount to $1.3 billion, exhibiting a decline of 13.5% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 4.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections d ...

The market expects Hasbro (HAS) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Hasbro (HAS) closed the most recent trading day at $71.57, moving -0.78% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%. Heading into today, shares of the toy maker had gained 4.95% over the past month, outpacing the Consumer Discretionary sector's gain of 2.82% and the S&P 500's gain of 4.87% in that time. The investment communit ...

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A strike along dozens of East Coast ports could cost the economy hundreds of millions of dollars a day, leaving things like cars, furniture, alcohol and pharmaceuticals stuck on ships, while potentially raising shipping costs for businesses and consumers. But as the holiday season approaches, potentially bringing in billions of dollars in online sales alone, toy makers like Mattel Inc. MAT and Hasbro Inc. HAS are likely to be a bit more in the clear, after getting much of their production and shipping out o ...