Hasbro Q4 2022 Earnings Report
Key Takeaways
Hasbro reported Q4 2022 revenues of $1.68 billion, a 17% decrease year-over-year. The company experienced an operating loss of $125.7 million, but adjusted operating profit increased by 22% to $269.2 million. Despite the revenue decline, MAGIC: THE GATHERING became Hasbro's first billion-dollar brand, and Wizards of the Coast and Digital Gaming had another record year.
Q4 revenue decreased by 17% year-over-year to $1.68 billion.
MAGIC: THE GATHERING reached $1 billion in revenue, becoming Hasbro's first billion-dollar brand.
Adjusted operating profit increased by 22% to $269.2 million.
The company is implementing Blueprint 2.0 with a focus on innovation, data-driven investment, and cost management.
Hasbro
Hasbro
Hasbro Revenue by Geographic Location
Forward Guidance
The Company's full-year 2023 guidance includes revenue down low-single digits; Adjusted operating profit margin expansion of 50 to 70 basis points, excluding Operational Excellence charges and other non-GAAP items; Adjusted earnings per diluted share in the range of $4.45 to $4.55; Adjusted EBITDA approximately flat with 2022 Adjusted EBITDA; Operating cash flow in the range of $600 to $700 million.
Positive Outlook
- Revenue down low-single digits
- Adjusted operating profit margin expansion of 50 to 70 basis points, excluding Operational Excellence charges and other non-GAAP items
- Adjusted earnings per diluted share in the range of $4.45 to $4.55
- Adjusted EBITDA approximately flat with 2022 Adjusted EBITDA
- Operating cash flow in the range of $600 to $700 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income