Hasbro (HAS) Misses Q4 EPS by 27c, Misses on Revenue; Offers FY24 Guidance

Hasbro (NASDAQ: HAS) reported Q4 EPS of $0.38, $0.27 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.35 billion.

For the full year 2024, the Company expects:

• 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% decline largely driven by second half comp in licensed digital gaming; 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.
• Increased mid-term gross savings target to $750M by year end 2025 from previous target of $350M to $400M.

For earnings history and earnings-related data on Hasbro (HAS) click here.

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