Hasbro reported earnings that surpassed the Zacks Consensus Estimate for the fiscal second quarter, although revenues fell short of expectations.
The toy and games company’s adjusted earnings came in at $1.15 per share, well above the Zacks Consensus Estimate of 88 cents. The figure is also higher than the year-ago quarter’s $1.05.
Revenues inched up +1% year-over-year to $1,339.2 million in the quarter, missing the consensus -estimate of $1,377 million. The year-over-year growth was bolstered by strong performances from brands such as My Little Pony, Magic: The Gathering, Peppa Pig, PLAY-DOH and Hasbro products for the Marvel portfolio.
Looking ahead, Hasbro expects fiscal year 2022 revenue growth at a low-single-digit rate, and predicts operating profit grow at a mid-single-digit rate. The company expects an adjusted operating profit margin of 16%, and operating cash flow in the range of $700-$800 million.