HAS 8-K: Hasbro Q1 revenue down 14% to $1.00B; net loss $0.16/share; Magic growth 16%

Hasbro Q1 revenue down 14% to $1.00B; net loss $0.16/share; Magic growth 16%

HASBRO, INC.

2023-Q1 EPS reported -$0.16 revenue$1,001,000,000

Revenue of $1.001B (-14% YoY); net loss $0.16/diluted share; adj. EPS $0.01.

Magic: The Gathering revenue increased 16% YoY; Wizards segment grew 12%.

Operating profit $17.9M (GAAP), adjusted $47.2M; $35M cost savings YTD.

Reaffirms FY2023 guidance including $150M run-rate cost savings.

CFO Deborah Thomas retiring May 18; eOne TV/film sale update expected Q2.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HASBRO, INC. reported first quarter 2023 results: revenue $1.00 billion, net income net loss of $22.1 million, EPS net loss of $0.16 per share. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $1.00 billion
Net income: net loss of $22.1 million
EPS: net loss of $0.16 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Hasbro Reports First Quarter 2023 Financial Results Company Reiterates Full-year 2023 Financial Guidance as Turnaround Efforts Progress and MAGIC: THE GATHERING Growth Continues Pawtucket, R.I., April 27, 2023 -- Hasbro, Inc. (NASDAQ: HAS), a global branded entertainment leader, today reported financial results for the first quarter 2023. • First quarter revenues of $1.00 billion declined 14% year-over-year, or 13% on a constant currency basis. ◦ MAGIC: THE GATHERING revenue increases 16% Year-Over-Year • First quarter operating profit of $17.9 million and adjusted operating profit of $47.2 million. • First quarter net loss of $22.1 million, or a net loss of $0.16 per share, and adjusted net income of $1.0 million, or $0.01 per diluted share. • Company realizes $35 million in Operational Excellence program cost savings year-to-date. Reaffirms guidance for $150 million run-rate savings for full-year 2023.

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