2023-08-03 06:37:48 ET
- Hasbro press release ( NASDAQ: HAS ): Q2 Non-GAAP EPS of $0.49 misses by $0.08 .
- Revenue of $1.21B (-9.7% Y/Y) beats by $90M .
- The Company now expects : Revenue decline of 3-6% driven by the Entertainment Segment. No change to Consumer Product guidance of down mid-single digits. Increasing guidance on Wizards of the Coast Segment to up high-single digits. Reducing outlook on Entertainment to down 25 to 30%.
- Adjusted operating margin up 20 to 50 basis points versus last year's adjusted operating margin. Consumer Products segment and Wizards and Digital Gaming segment margin outlook unchanged from prior guidance. Entertainment segment margin is now expected to decline as a result of the D&D film impairment and the ongoing industry strikes.
- The Company continues to expect: Adjusted EBITDA approximately flat with 2022 adjusted EBITDA. Operating Cash Flow of $600 to $700 million.
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Hasbro reports mixed Q2 earnings; updates FY23 outlook