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Hasbro (HAS) set to report Q3 2024 earnings this week, what to anticipate

by Index Investing News
October 22, 2024
in Markets
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Shares of Hasbro, Inc. (NASDAQ: HAS) have been down over 1% on Monday. The inventory has gained 20% over the previous three months. The toymaker is ready to report its third quarter 2024 earnings outcomes on Thursday, October 24, earlier than market open. Right here’s a have a look at what to anticipate from the earnings report:

Income

Analysts are projecting income of $1.30 billion for Hasbro within the third quarter of 2024. This may signify a decline of 13% from the identical interval a yr in the past. Within the second quarter of 2024, revenues declined 18% year-over-year to $995 million.

Earnings

The consensus estimate for earnings per share in Q3 2024 is $1.29, which might signify a decline of 21% in comparison with the prior-year quarter. In Q2 2024, adjusted EPS greater than doubled to $1.22.

Factors to notice

Hasbro’s high line has been impacted by the eOne divestiture, and development within the Wizards of the Coast and Digital Gaming phase has been offset by declines within the Client Merchandise and Leisure segments.

Client Merchandise revenues have been impacted by deliberate enterprise exits and diminished closeout quantity, nevertheless it benefited from features in FURBY, G.I. JOE, and PLAY-DOH. Hasbro has been seeing encouraging early demand for its product innovation in Beyblade, PLAY-DOH, and Transformers slated for the latter half of the yr.

The corporate is forecasting a low single-digit decline for the CP phase within the third quarter earlier than switching to development within the fourth quarter. It additionally expects the affect from model divestitures to proceed to be a headwind.

The Wizards phase has benefited from sturdy development in MAGIC: THE GATHERING in addition to from sturdy Licensed and Digital Gaming income. Digital continues to be a key a part of the corporate’s development technique. Nonetheless, digital licensing is predicted to be down in Q3 because the toy large laps the launch of Baldur’s Gate 3.

Whereas Hasbro’s revenues are prone to proceed being pressured, the corporate is anticipated to learn from its efforts in product innovation, its leisure initiatives, and energy in licensing and digital.



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