Sarah Patel's Avatar
published in Blogs
Apr 19, 2022
Hasbro (HAS, $87.90) misses Q1 earnings expectations

Hasbro (HAS, $87.90) misses Q1 earnings expectations

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.

Related Tickers: HAS