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Mar 31, 2024
Hasbro Q1 2024 Earnings Report
Hasbro reported improved profitability and EPS growth in Q1 2024.
Key Takeaways
Hasbro's Q1 2024 results showed a revenue decline of 24%, primarily due to the eOne film and television divestiture. Excluding this, revenue decreased by 9%. However, the company saw growth in the Wizards of the Coast and Digital Gaming segment (+7%) and Entertainment (+65%), which was offset by declines in Consumer Products (-21%). The company reported improved profitability and EPS growth.
Hasbro's Q1 revenue declined by 24%, but excluding the eOne divestiture, the decline was 9%.
Wizards of the Coast and Digital Gaming segment grew by 7%, while the Entertainment segment increased by 65%.
Adjusted operating profit increased by $101.4 million compared to the previous year, with an adjusted operating margin of 19.6%.
Hasbro's owned inventory decreased by 53% compared to the prior year.
Hasbro
Hasbro
Hasbro Revenue by Segment
Hasbro Revenue by Geographic Location
Revenue by Segment
Wizards & Digital Revenue
CapyFin.comConsumer Products Revenue
CapyFin.comEntertainment Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comLatin America Revenue
CapyFin.com Forward Guidance
For the full year, the Company maintains annual guidance and continues to expect:
Positive Outlook
- Consumer Products Segment revenue down 7% to 12% with 4 points of the decline coming from businesses shifting to an out-license model; Operating margin 4% to 6%.
- Wizards of the Coast Segment revenue down 3% to 5%; Operating margin 38% to 40%.
- Pro-Forma Entertainment segment revenue down $15 million; Adjusted operating margin of approximately 60%.
- Total Hasbro, Inc Adjusted EBITDA of $925M to $1B.
- Gross savings target to $750M by year end 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income