Hasbro Inc

Latest Results (22.12.2024):

Revenue Decline

In the third quarter of 2022, Hasbro Inc. reported revenues of $1.68 billion, marking a 15% decrease compared to the same period in the previous year. This decline was 12% on a constant currency basis. The decrease in revenue was attributed to the acceleration of Consumer Products shipments into the second quarter and the scheduling of MAGIC: THE GATHERING set releases and entertainment content for the fourth quarter.

Operating Profit Drop

Hasbro Inc.'s operating profit for the third quarter of 2022 was $194.3 million, which represented a 47% decline from the previous year. On an adjusted basis, the operating profit decreased by 31%. The decline was influenced by increased price sensitivity among consumers and the strategic timing of product releases.

Net Earnings Reduction

The net earnings for Hasbro Inc. in the third quarter of 2022 were $129.2 million, a significant 49% decrease from the same quarter in 2021. The net earnings per diluted share also fell by 49%, from $1.83 to $0.93. Adjusted net earnings saw a 28% decline, reflecting the challenging market conditions and strategic adjustments.

Segment Performance

Hasbro Inc.'s Consumer Products segment experienced a 10% revenue decline in the third quarter of 2022. The Wizards of the Coast and Digital Gaming segment saw a 16% decrease in revenue, while the Entertainment segment's revenue dropped by 35%. These declines were influenced by various factors, including foreign exchange impacts and strategic product release timings.

Dividend and Share Repurchase

During the third quarter of 2022, Hasbro Inc. paid $96.7 million in cash dividends to shareholders. The company also repurchased 1.4 million shares of its common stock at a total price of $125.0 million year-to-date. Hasbro remains committed to its dividend policy and share repurchase program, with $242.6 million still available for repurchase.