Hasbro Q3 Earnings Surpass Consensus Estimate

Play and entertainment company, Hasbro, Inc. (HAS) on Tuesday announced increase in earnings in the third quarter to $253.2 million or $1.83 per share from $220.9 million or $1.61 per share in the same quarter a year ago.

Excluding items, earnings were $1.96 per share, that beat the average estimate of twelve analysts polled by Thomson Reuters at $1.69 per share. Analysts' estimates typically exclude special items..

Revenue for the quarter increased 11% year-over-year to $1.97 billion from $1.777 billion, helped primarily by sales growth in entertainment segment. The consensus estimate was for $1.97 billion.

"Given the strength across our diversified business model, for the full year we continue to target double-digit revenue growth, currently expected in the range of 13% to 16%, and operating margins in line with last year's adjusted level of approximately 15%. We have orders to support the high end of the revenue growth range, but there are supply chain factors out of our control which could impact our ability to fully achieve the upside," said Deborah Thomas, Hasbro's chief financial officer.

Hasbro shares are trading more than 2% higher in the pre-market at $90.35. The stock closed Monday's trade at $88.50, down $1 or 1.1%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home improvement company Lowe's and pet retailer Petco Health and Wellness Co. are set to launch a pilot store-in-store program whereby a total home solution will be offered to customers by bringing home improvement as well as pet care products, services and expertise together under the same roof. Chevron Corporation (CVX) reported fourth quarter profit of $5.1 billion or $2.63 per share, compared to a loss of $665 million or $0.33 per share, previous year. The company's U.S. upstream operations earned $2.97 billion, compared to $101 million, a year ago. The company said the improvement was primarily... While reporting financial results for the fourth quarter on Friday, Colgate-Palmolive Co. (CL) initiated its earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now expects earnings per share to grow in double-digit percentage and adjusted earnings per share growth...
Follow RTT