Hasbro Inc. (HAS) reported a 15% year-over-year decline in third-quarter sales, primarily driven by the eOne film divestiture. Despite this, the company’s adjusted earnings per share beat analyst expectations, and Hasbro’s CEO highlighted ongoing turnaround efforts. The company also revised its revenue outlook for the Consumer Products Segment but maintained its adjusted EBITDA guidance.
JPMorgan analyst Christopher Horvers has shared insights into the upcoming third-quarter earnings reports for Mattel and Hasbro. Horvers highlights Mattel’s success in expanding shelf space, driven by Barbie’s 65th anniversary and new releases, while acknowledging potential challenges like consumer spending and the upcoming holiday season. For Hasbro, he expects strong performance due to new releases and improved innovation, particularly for Transformers, Beyblade, and Magic brands. Despite some concerns, JPMorgan maintains a positive outlook for both companies, raising price targets for both Mattel and Hasbro.
Hasbro’s mobile game Monopoly Go! continues its meteoric rise, generating over $3 billion in revenue since its launch just 14 months ago. This success has propelled Hasbro to the top spot for video game licensing, surpassing even Electronic Arts in terms of revenue generated from a single game. The game’s success has also led Hasbro to raise its revenue guidance for the full year.
During the Summer Game Fest live stream, a new Power Rangers beat-’em-up titled Mighty Morphin Power Rangers: Rita’s Rewind was announced. The game is being developed by Digital Eclipse and published by Hasbro. Digital Eclipse normally specializes in remaking and remastering old games, but Rita’s Rewind features all of the classic Rangers with a slightly new art style. The action-filled trailer showcases five players going up against classic Power Rangers villains like Goldar as they try to stop Rita and her robot twin from messing with the events of time and space.
Rita’s Rewind could be the next family outing for fans of the early-’90s TV show or latecomers to the Power Rangers franchise looking for something new to dig into.
Mighty Morphin Power Rangers: Rita’s Rewind does not have a hard release date, but you can wishlist it on Steam now. It is set to release sometime in 2024 on PlayStation 4, PlayStation 5, Xbox One, Xbox Series X/S, Nintendo Switch, and Steam.
The Fallout Magic: the Gathering collaboration has emerged as an extraordinary success, likely becoming the best-performing Commander set in the franchise’s history, according to Hasbro CEO Chris Cocks. Cocks attributed this triumph to the set’s exceptional reception, noting that Commander sets are typically smaller in scale than premier sets and thus necessitate adjustments in comparisons. Despite this distinction, Fallout has played a pivotal role in maintaining Magic: the Gathering’s robust health, contributing to pre-pandemic levels of engagement. Cocks expressed optimism regarding upcoming crossovers with Final Fantasy and Marvel, anticipating their potential to rival the heights achieved by the Lord of the Rings collaboration.
The Fallout Magic: the Gathering crossover collection has become a massive success, with Hasbro CEO Chris Cocks stating that it’s “probably” Magic’s most successful Commander set of all time. Despite being smaller than premier sets, Commander sets have seen a surge in popularity, with the Fallout set performing exceptionally well. Magic: the Gathering overall is experiencing a resurgence, with pre-pandemic engagement levels, thanks in part to the success of Fallout and the recent Outlaws of Thunder Junction Commander set. Hasbro is optimistic about future crossovers, including Final Fantasy and Marvel, which are expected to achieve similar heights as the Lord of the Rings collaboration.
Hasbro CEO Chris Cocks has declared the Fallout Magic: The Gathering collaboration as the most successful Commander set of all time. Despite Commander sets being typically smaller than premier sets, Fallout’s performance has been exceptional. The Magic franchise continues to thrive, with engagement levels reaching pre-pandemic heights due to the Fallout set and other releases like Outlaws of Thunder Junction. Hasbro anticipates that upcoming crossovers, such as Final Fantasy and Marvel, will achieve similar success as Lord of the Rings.
Toy company Hasbro has reported better-than-expected earnings for the first quarter of 2023. Earnings per share (EPS) came in at $0.61, exceeding analyst estimates of $0.28. Revenue also surpassed expectations, reaching $757.3 million compared to consensus estimates of $749.48 million. Hasbro’s stock price responded positively, closing at $58.14 and showing gains of 13.75% over the past three months and 13.91% over the past year.
Toymaker Hasbro reported a smaller-than-anticipated decline in first-quarter sales and exceeded profit estimates, mitigating weaker demand for toys with leaner inventories and steady digital gaming revenue. Efforts to optimize inventory throughout 2023 and cost-saving initiatives contributed to an expanded operating margin. Despite a drop in Nerf toy gun sales, the company’s Wizards of the Coast and Digital Gaming segment experienced a 7% revenue increase, driven by popular titles like “Baldur’s Gate III” and “Monopoly Go!”. Hasbro remains on track to meet its fiscal 2024 targets, as previously outlined in February.
Sony’s TriStar Pictures and Sony Pictures Television have acquired the rights from Hasbro Entertainment to develop film and television adaptations of the popular board game, Clue. The adaptations will aim to capture the mystery-solving gameplay of Clue and translate it into captivating visual narratives.
