Hasbro tops fourth-quarter EPS by $0.35

Hasbro (NASDAQ: HAS) records $1.21 EPS in the fourth quarter, and topples the $0.86 analyst estimates by 35 cents. The $2.01 billion fourth-quarter revenue also beat the $1.87 billion consensus estimate. Full-Year Net revenue grew by 17 percent to around $6.42 billion. Entertainment sector revenues increased by 27% while the revenues in the Consumer Products segment grew by 9%.

Hasbro tops Q4 consensus earnings estimates.

The company reported net revenue of about $2.01 billion in the fourth quarter, representing a 17% increase. Operating profit in the same quarter came to about %171.5 million, representing 8.5 percent of total revenue.

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The adjusted operating revenue came to around $219.9 million. Net earnings for Q4 were $0.59 per diluted share, representing around $82.2 million, while adjusted net earnings for the same quarter came to $1.121 per diluted share.

Hasbro’s interim Chief Executive Officer, Rich Stoddart said:

fans and consumers are increasingly interacting with brands in more ways than ever—our unique set of strategic assets across toys and games, entertainment, digital gaming and licensing provide the foundation for maximizing the value of both our existing franchises and new IP.

The interim CEO claimed that he was honored to lead the talented team the company has at its disposal and believes that the incoming CEO will bring a lot of passion and vision while accelerating Hasbro’s performance-driven culture.

The company’s Chief Financial Officer, Deborah Thomas said:

we delivered strong results, including 17% revenue growth for the year, higher operating profit margins and $818 million in operating cash flow, while successfully navigating supply chain challenges, including higher fourth quarter input and freight costs across our business.

The CFO claimed that this what enabled the company to continue putting funds into growth initiatives and programs, settle its long-term outstanding debt and continue supporting their dividend which the BoD recently increased by 3%.

Financial Highlights 

Foreign exchange has a $10.1 million negative impact in Q4 2021 revenue but a positive $54 million impact in full-year revenue. Full-year and fourth-quarter net earnings were affected by net non-operating, non-cash charge of $41.3 million linked to the Discovery Family Channel investment the company made.