Categories Consumer, Earnings

Hasbro’s stock gains 15% after Q1 brings surprise profit

Hasbro Inc. (NASDAQ: HAS) surpassed market expectations with revenue growth and a surprise profit for the first quarter of 2019. Shares gained 15% in morning hours on Tuesday.

Total revenues of $732.5 million were up 2% from the same period last year. Excluding a negative $24.3 million foreign exchange impact, revenues grew 6%.

Hasbro reports first quarter 2019 earnings results

Reported net income was $26.7 million, or $0.21 per share, compared to a net loss of $112.5 million, or $0.90 per share, in the year-ago quarter. Adjusted net income was $12.4 million, or $0.10 per share.

Net revenues in the US and Canada segment rose 1% to nearly $358 million, helped by growth in Franchise Brands, Hasbro Gaming and Emerging Brands. Revenues in the International segment fell 2% to $282.6 million. Within International, Hasbro saw revenue declines in Europe and Latin America while Asia-Pacific remained flat. Excluding Forex, all regions across International registered revenue growth.

Entertainment, Licensing and Digital revenues grew 24% year-over-year to $92 million, helped by Magic: The Gathering Arena and consumer products licensing revenue. Hasbro’s total gaming category delivered revenues of $243.4 million, up 20% year-over-year.

Also see: Hasbro Q1 2019 Earnings Conference Call Transcript

Franchise Brands revenue increased 9% to $393.6 million, driven by revenue growth in MAGIC: THE GATHERING, MONOPOLY, PLAY-DOH and TRANSFORMERS. Partner Brand revenues dropped 14% to $172 million, as revenue growth in BEYBLADE was offset by declines in other brands.

Hasbro Gaming revenue grew 2% to $107.6 million, fuelled by revenue growth in games such as DUEL MASTERS, CONNECT 4 and TWISTER. Revenue in Emerging Brands rose 22% to $59.4 million, driven by growth in quick strike collectibles, SUPERSOAKER and FURREAL FRIENDS as well as initial shipments of POWER RANGERS in North America.

Hasbro paid $79.3 million in cash dividends to shareholders during the first quarter. The next quarterly cash dividend payment of $0.68 per common share is scheduled for May 15, 2019 to shareholders of record as of May 1, 2019.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Cost reduction has become a priority for FedEx (FDX) after a challenging quarter

Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for

Prime Medicine is the next big biotech to pursue IPO. Here’s all you need to know

After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG

Stock Watch: Is Darden Restaurants a good buy after earnings?

After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many

Add Comment
Viewing Highlight