2:54 a.m. April 27, 2021
- By Tomi Kilgore
Hasbro's stock set to rally after big profit beat, while revenue came up a bit shyShares of Hasbro Inc. were indicated up more than 2% in premarket trading Tuesday, after the toy maker reported a big first-quarter profit beat, while revenue came up a bit shy. The company swung to net income of $116.2 million, or 84 cents a share, from a net loss of $69.7 million, or 51 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.00 from 57 cents, beating the FactSet consensus of 64 cents. Revenue increased 0.8% to $1.15 billion, just below the FactSet consensus of $1.17 billion, as 14% growth in consumer products and a 15% increase in Wizards of the Coast and digital gaming revenue offset a 32% drop in entertainment revenue. "We continue to target full-year double-digit revenue growth for Hasbro supported by innovation and quality execution throughout the business," said Chief Executive Brian Goldner. The current FactSet consensus for 2021 revenue of $6.08 billion implies 11.2% growth. The stock has gained 3.7% year to date through Monday, while the S&P 500 has advanced 11.5%.
2:42 a.m. Feb. 8, 2021
- By Tomi Kilgore
Hasbro stock surges, as gaming strength helps boost profit and revenue above expectationsShares of Hasbro Inc. rallied 2.8% toward a one-year high in premarket trading Monday, after the toy maker reported fourth-quarter profit and revenue that rose above expectations, as strength in gaming offset a miss in its franchise brands business. Net income increased to $105.2 million, or 76 cents a share, from $95.5 million, or 69 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $1.27 from 90 cents, above the FactSet consensus of $1.14. Revenue rose 4% to $1.72 billion, topping the FactSet consensus of $1.69 billion. Among the business segments, Franchise Brands revenue rose 7% to $705.2 million to miss the FactSet consensus of $730.8 million; Partner Brands revenue declined 14% to $349.6 million, in line with expectations of $349.4 million; and Hasbro Gaming revenue jumped 21% to $298.5 million to beat expectations of $279.1 million. "We continue to see strong retail, consumer and audience support for our brands and content as we look to the coming year," said Chief Financial Officer Deborah Thomas. The stock has advanced 15.3% over the past three months through Friday, while the S&P 500 has gained 10.8%.
2:43 a.m. Oct. 26, 2020
- By Tomi Kilgore
Hasbro's stock rallies toward 8-month high after profit and revenue beat expectationsShares of Hasbro Inc. rallied 1.7% toward an 8-month high in premarket trading Monday, after the toy maker reported third-quarter profit and revenue that beat expectations, and said deliveries are expected to improve in the fourth quarter. Net income was $220.9 million, or $1.61 a share, after net income of $212.9 million, or $1.67 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.88, above the FactSet consensus of $1.63. Revenue grew 12.8% to $1.78 billion, above the FactSet consensus of $1.74 billion, as sales in the U.S. and Canada increased 9% and e-commerce revenue jumped 50%. Revenue from eOne TV and film fell to reflect entertainment delivery delays due to live-action production shutdowns as a result of the COVID-19 pandemic. "Building off this quarter's growth in toys, games and digital we are positioned to deliver a good holiday season," said Chief Executive Brian Goldner. "Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021." The stock has declined 12.9% year to date through Friday, while the S&P 500 has gained 7.3%.
12:32 p.m. July 27, 2020
- By Joy Wiltermuth
Dow ends 114 points higher, U.S. stocks snap 2-day losing streak, as investors await stimulus progress Gold settles at highest level in history at $1,931 an ounce U.S. stocks closed higher Monday as investors monitored efforts in Washington to craft another coronavirus rescue package and braced for tech giant to report in the busiest week of earnings season.
9:10 a.m. July 27, 2020
- By Ciara Linnane
Coronavirus update: U.S. case tally climbs above 4.2 million after a fifth straight day of more than 1,000 deaths Dr. Deborah Birx says Kentucky, Indiana, Ohio, Tennessee and Virginia should reimpose lockdowns on bars and gatherings of more than 10 peopleThe U.S. case tally for the coronavirus illness COVID-19 rose above 4.2 million on Monday, after a fifth straight day of more than 1,000 new infections, as states in the South and West continue to struggle to contain the spread of the deadly illness.
2:45 a.m. July 27, 2020
- By Tomi Kilgore
Hasbro's stock drops after adjusted profit, revenue miss expectationsShares of Hasbro Inc. dropped 3.2% in premarket trading Monday, after the toy maker reported an adjusted second-quarter profit and revenue that missed expectations, as the COVID-19 pandemic has led to temporary store closures, product shortages and lower retail inventory. The company swung to a net loss of $33.9 million, or 25 cents a share, from net income of $13.4 million, or 11 cents a share, in the year-ago period. Excluding non-recurring items, such as acquisition-related and severance charges and cost-saving initiatives, adjusted earnings per share was 2 cents, below the FactSet consensus of 22 cents. Revenue fell to $860.3 million from $984.5 million, or declined 29% on a pro forma basis, to miss the FactSet consensus of $985.5 million. Franchise brands revenue fell 35% to $376.8 million, missing the FactSet consensus of $507.6 million, and partner brands revenue dropped 35% to $138.2 million to miss expectations of $174.2 million, but Hasbro brands revenue rose 11% to $137.0 million to beat expectations of $125.9 million. Within Hasbro brands, consumer point of sales increased in the high-single digits percentage range. The company said nearly all of its partner factories and warehouses are now open. The stock has dropped 26.5% year to date through Friday, while the SPDR Consumer Discretionary Select Sector ETF has gained 8.1% and the S&P 500 has slipped 0.5%.