Hasbro reported first quarter earnings that fell short of analysts’ expectations. However, the toymaker was optimistic about higher toy prices and strong demand to boost earnings by year-end.
The company’s adjusted earnings for the three months ending in March fell -43% from the year-ago quarter to 57 cents per share, below the Street consensus forecast of 61 cents.
Revenues increased +4% to $1.16 billion, exceeding analysts' estimates of a $1.51 billion.
Looking ahead, Hasbro confirmed its guidance of 'low single-digit' revenue growth for the full-year, notwithstanding U.S. dollar strength and an estimated $100 million impact from Russia's war on Ukraine. It expects operating cash flow in the range of $700 million to $800 million.