Hasbro Q2 revenue down 10% to $1.21B; reports net loss of $235M; sells eOne Film & TV to Lionsgate

HASBRO, INC.

2023-Q2 EPS reported -$1.85 revenue$2,211,000,000

Q2 net revenue $1,210M (-10% YoY); net loss $235M (-$1.69 EPS); adjusted EPS $0.49 (-57%).
Announced sale of eOne Film and TV business to Lionsgate; expected close by end of 2023, plans to pay down at least $400M floating-rate debt.
Operating loss $188.6M vs profit $219.1M in prior year; adjusted operating profit $136.8M, down 43%.
First-half cost savings $84M under Operational Excellence Program; owned inventory reduced 16% YoY.
Raised Wizards of the Coast & Digital Gaming revenue guidance; reaffirmed Consumer Products outlook; Entertainment impacted by strikes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HASBRO, INC. reported first half 2023 results: revenue $2,211.0, net income $(257.1), EPS $(1.85). Guidance raised.

Period: first half 2023
Revenue: $2,211.0
Net income: $(257.1)
EPS: $(1.85)
Guidance: raised
Result: reported results

Exact text from the filing

Quarter and First Half 2023 Financial Results $ Millions, except earnings per share Q2 2023 Q2 2022 % Change 1H 2023 1H 2022 % Change Net Revenues 1 $ 1,210.0 $ 1,339.2 -10% $ 2,211.0 $ 2,502.3 -12% Operating Profit (Loss) $ (188.6) $ 219.1 >-100% $ (170.7) $ 339.1 >-100% Adjusted Operating Profit 2 $ 136.8 $ 241.0 -43% $ 184.0 $ 382.8 -52% Net Earnings (Loss)

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HASBRO, INC. reported the fiscal quarter ended July 2, 2023 results: revenue $1,210.0, net income $(235.0), EPS $(1.69). Guidance raised.

Period: the fiscal quarter ended July 2, 2023
Revenue: $1,210.0
Net income: $(235.0)
EPS: $(1.69)
Guidance: raised
Result: reported results

Exact text from the filing

Brothers editions. Second Quarter and First Half 2023 Financial Results $ Millions, except earnings per share Q2 2023 Q2 2022 % Change 1H 2023 1H 2022 % Change Net Revenues 1 $ 1,210.0 $ 1,339.2 -10% $ 2,211.0 $ 2,502.3 -12% Operating Profit (Loss) $ (188.6) $ 219.1 >-100% $ (170.7) $ 339.1 >-100% Adjusted Operating Profit 2 $ 136.8 $ 241.0 -43% $ 184.0 $ 382.8

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HASBRO, INC. filing history →

Source: SEC EDGAR

accession 0000046080-23-000079

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