Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Hasbro Beats EPS Consensus on Strong Margins, Results Seen as 'Solid'

Stock Markets Jul 19, 2022 09:34
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
HAS
+1.81%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Senad Karaahmetovic

Shares of Hasbro (NASDAQ:HAS) are up 1% in premarket trading after the toymaker reported better-than-expected adjusted EPS for Q2.

The company reported Q2 adjusted EPS of $1.15, up from $1.05 in the year-ago period and topping the consensus estimates of 93c per share. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.37 billion.

The company generated $743.9 million in Franchise brands revenue, also above the consensus projection of $684.9 million. Partner Brands revenue stood at $219.4 million, beating the expected $214.2 million.

Hasbro Gaming revenue was reported at $125.8 million, missing the analyst consensus of $154.6 million. Hasbro reported Emerging Brands revenue of $92 million, while analysts were looking for $103.2 million. TV/Film/Entertainment revenue stood at $158.1 million, well below the estimates of $213.5 million.

Hasbro reported an adjusted EBITDA of $308.3 million, up 6.5% YoY and above the consensus estimates of $263.7 million on lower costs.

"Wizards of the Coast turned in its biggest quarter ever, led by 15% growth in tabletop gaming and 11% growth in MAGIC: THE GATHERING across platforms,” the company highlighted in a press release.

Goldman Sachs analyst Michael Ng said Hasbro delivered “solid results.”

“We expect HAS to trade higher on the solid 2Q22 results. Consumer Products delivered better-than-expected revenue and while WOTC revenue missed, margins of 53.7% were much better-than-expected and the highest on record (since at least 2019). Although Entertainment missed (-4% excluding Music), HAS reiterated its full-year outlook for Entertainment with line of sight into the growth improvement in the rest of the year (e.g., more scripted deliveries, animated deliveries in 2H),” Ng reflected on earnings in the research note.

Hasbro Beats EPS Consensus on Strong Margins, Results Seen as 'Solid'
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email