Hasbro Q2 Profit Beats Estimates; Issues Guidance

Hasbro, Inc. (HAS) reported that its second quarter adjusted EPS increased to $1.15 from $1.05, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.95, for the quarter. Analysts' estimates typically exclude special items. Adjusted operating profit was up 14% to $241.0 million.

Net income was $142.0 million or $1.02 per share compared to a loss of $22.9 million or $0.17 per share, last year.

Net revenues increased 1% to $1.34 billion. Analysts on average had estimated $1.37 billion in revenue. Revenues were up 4% absent an unfavorable $32.7 million impact of foreign exchange, the company noted.

Hasbro said it has a plan for continued growth in 2022, including low-single digit revenue growth on a constant currency basis; mid-single digit growth in operating profit to achieve adjusted operating profit margin of 16%; and operating cash flow at the low end of the range of $700 to $800 million.

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