Hasbro Q4 Adj. EPS Tops View; Guides FY23 Below Estimates
(RTTNews) - Toy and board game company Hasbro, Inc. (HAS) reported Thursday a net loss attributable to Hasbro for the fourth quarter of $128.9 million or $0.93 per share, compared to a net income of $82.2 million or $0.59 per share in the year-ago quarter.
Excluding items, adjusted earnings for the quarter were $1.31 per share, compared to $1.21 in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected earnings of $1.29 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter decreased 17 percent or 14 percent in constant currency, to $1.68 billion from $2.01 billion in the same quarter last year. Analysts expected revenues of $1.68 billion for the quarter.
Looking ahead to fiscal 2023, the company now projects adjusted earnings $4.45 to $4.55 per share on revenue to be down low-single digits. The Street is looking for earnings of $4.88 per share on revenue growth of 2.5 percent to $6.0 billion for the year.
For the medium and long-term, through year-end 2027, Hasbro expects revenue growth in the mid-single digits on a compound annual basis.
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