Hasbro (HAS) Tops Q1 EPS by 33c, offers guidance

Hasbro (NASDAQ: HAS) reported Q1 EPS of $0.61, $0.33 better than the analyst estimate of $0.28. Revenue for the quarter came in at $757.3 million versus the consensus estimate of $749.48 million.

For the full year, the Company maintains annual guidance and continues to expect:

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%; 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.
Gross savings target to $750M by year end 2025.

2024 Capital Allocation priorities:

Invest in core business.
Return cash to shareholders through the dividend.
Continue to pay down debt and progress towards leverage target.

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

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