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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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