Welcome to our dedicated page for Hasbro news (Ticker: HAS), a resource for investors and traders seeking the latest updates and insights on Hasbro stock.
Hasbro, Inc. (NASDAQ: HAS) is a global leader in creating the world’s best play experiences through its iconic and beloved brands. The company’s extensive brand portfolio includes household names such as Littlest Pet Shop, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh, Transformers, and many more. Hasbro's offerings span a wide range of entertainment mediums, from traditional toys and games to television programming, motion pictures, digital gaming, and a comprehensive lifestyle licensing program.
Hasbro Studios, the company's entertainment arm, is dedicated to creating brand-driven storytelling that resonates across multiple platforms, including TV and film. Through strategic acquisitions and partnerships, such as the 2019 acquisition of Entertainment One (eOne), Hasbro has significantly expanded its reach and content capabilities, adding popular family properties like Peppa Pig and PJ Masks to its portfolio. In 2022, the company further strengthened its digital gaming presence by acquiring Dungeons & Dragons Beyond, offering access to a community of 10 million digital tabletop players.
Financially, Hasbro continues to show robust performance, driven by its diverse product lineup and strategic investments. The company is also deeply committed to corporate social responsibility, including philanthropy and environmental sustainability, positively impacting millions of children and families around the world.
In recent news, Hasbro’s division, Wizards of the Coast, announced a licensing agreement with Starbreeze Entertainment to develop a new game based on the Dungeons & Dragons universe, expected to launch in 2026. This partnership underscores Hasbro's strategy to grow its digital games portfolio through licensing and development, bringing immersive play experiences to a global audience.
Hasbro, Inc. (NASDAQ: HAS) reported a challenging first quarter of 2023 with revenues of $1.00 billion, down 14% year-over-year. Despite operating profit of $17.9 million, there was a net loss of $22.1 million or $0.16 per share. However, the performance of MAGIC: THE GATHERING was strong with a 16% revenue increase due to successful releases and high player demand. The company has achieved $35 million in cost savings year-to-date and reaffirmed its full-year guidance, targeting $150 million in run-rate savings. CEO Chris Cocks emphasized the ongoing implementation of the Blueprint 2.0 strategy and the positive trajectory for Dungeons & Dragons post the successful movie release. Despite challenges, Hasbro remains focused on reducing costs and maximizing shareholder value.
Hasbro, Inc. (NASDAQ: HAS) has announced two key appointments to its Executive Leadership Team. Tim Kilpin will take on the role of President, Toy, Licensing & Entertainment effective April 24, 2023, bringing extensive experience from companies such as PlayMonster and Activision Blizzard. Gina Goetter will assume the role of Chief Financial Officer on May 18, 2023, after serving as CFO at Harley-Davidson. Her experience spans over 25 years in finance and accounting, contributing to operational excellence at Hasbro as it executes its Blueprint 2.0 strategy. Both appointments aim to enhance leadership as the company focuses on optimizing its brand portfolio and driving shareholder value.
Hasbro, Inc. (NASDAQ: HAS) will host its first quarter 2023 earnings conference call on April 27, 2023, at 8:30 a.m. Eastern Time. The financial results will be released prior to the call and available on Hasbro's Investor Relations website. Key financial data will comply with Regulation G and will accompany the webcast, which also includes presentation slides for investors and media. A replay of the call will be accessible approximately two hours post-event on the same webpage.
Hasbro is recognized for its diverse portfolio of brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, and TRANSFORMERS, aiming to connect generations through storytelling and play.
Kiya & The Kimoja Heroes is a new animated series premiering on Disney Junior and Disney+ in the US on March 22, 2023. The show follows a seven-year-old girl named Kiya, who, along with her friends, transforms into superheroes known as the Kimoja Heroes. The series emphasizes themes of community, empathy, and diversity, featuring a cast inspired by Southern African landscapes and culture. Kiya balances her passions for dance and martial arts, which serve as her superpowers. The show aims to provide relatable characters and positive role models, encouraging young viewers to embrace their uniqueness.
To celebrate the 30th anniversary of Magic: The Gathering, HOT POCKETS is offering limited-time boxes featuring in-game content for Magic: The Gathering Arena. Each box contains codes redeemable for exclusive items, including a themed deck, avatar, card sleeves, and experience bonuses.
The packaging showcases various mana colors and corresponding flavors, with white, blue, red, and green options available, while a black mana flavor is set to release in May. This promotion runs until June 30, 2023, with the goal of engaging fans of both the food and card game.
Hasbro reported a 9% decline in full-year revenues to $5.86 billion for 2022, driven by a 17% drop in Q4 revenues to $1.68 billion. Operating profit for the year fell to $407.7 million, down 47% year-over-year. Despite challenges, the company highlighted successes such as the first billion-dollar revenue year for MAGIC: THE GATHERING and improvements in adjusted operating margins. For 2023, Hasbro anticipates low-single digit revenue decline but expects adjusted operating profit margins to expand by 50 to 70 basis points. The company is also targeting adjusted earnings per diluted share between $4.45 and $4.55.
Hasbro, Inc. (NASDAQ: HAS) has declared a quarterly cash dividend of
Hasbro (NASDAQ: HAS) announced plans to cut approximately 1,000 full-time positions, or 15% of its global workforce, as part of leadership and organizational changes aimed at achieving $250-$300 million in annual cost savings by 2025. Despite strong growth in its Wizards of the Coast and Digital Gaming segments, overall fourth-quarter 2022 revenue dropped 17% year-over-year to $1.68 billion, driven by a 26% decline in Consumer Products. Adjusted earnings per diluted share ranged from $1.29 to $1.31, excluding charges related to restructuring efforts. Hasbro's Blueprint 2.0 strategy aims to enhance profitability and focus on major brands.
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