Hasbro Q2 2022 Earnings Report
Key Takeaways
Hasbro reported strong second quarter results with revenue growth of 1% to $1.34 billion and adjusted operating profit margin expansion of 200 basis points. Wizards of the Coast had its biggest quarter ever, led by growth in tabletop gaming and MAGIC: THE GATHERING. The company also acquired D&D Beyond to enhance digital play and direct-to-fan capabilities.
Net revenues increased 1% to $1.34 billion.
Operating profit was $219.1 million, or 16.4% of revenues.
Net earnings increased more than 100% to $142.0 million, or $1.02 per diluted share.
Adjusted net earnings increased 10% to $160.6 million, or $1.15 per diluted share.
Hasbro
Hasbro
Hasbro Revenue by Geographic Location
Forward Guidance
Hasbro has a plan for continued growth in 2022, including low-single digit revenue growth on a constant currency basis; mid-single digit growth in operating profit to achieve adjusted operating profit margin of 16%; and operating cash flow at the low end of the range of $700 to $800 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income