Spider-Man: No Way Home, which has grossed more than $1.1 billion since its release in December, helped toy maker Hasbro smash Wall Street’s fourth-quarter estimates.
In the fourth quarter, ending December 26, revenue climbed 17% compared with the year-earlier period to reach $2 billion. Analysts had been expecting a shade less than $1.9 billion. Earnings of $1.21 per share on an adjusted basis far surpassed estimates of 88 cents.
Despite the glowing quarterly report, the company’s stock has shed 1% today to about $93 a share after executives warned of rising costs for shipping and raw materials. For 2022, they expect the squeeze to keep revenue growth in the low-single digits.
In addition to coping with the pandemic and supply-chain issues, the company has been working through a significant management transition. Brian Goldner, who had been CEO since 2008, spearheading Hasbro’s entertainment push with franchise properties like Transformers and G.I. Joe, died last October. Chris Cocks, who...
In the fourth quarter, ending December 26, revenue climbed 17% compared with the year-earlier period to reach $2 billion. Analysts had been expecting a shade less than $1.9 billion. Earnings of $1.21 per share on an adjusted basis far surpassed estimates of 88 cents.
Despite the glowing quarterly report, the company’s stock has shed 1% today to about $93 a share after executives warned of rising costs for shipping and raw materials. For 2022, they expect the squeeze to keep revenue growth in the low-single digits.
In addition to coping with the pandemic and supply-chain issues, the company has been working through a significant management transition. Brian Goldner, who had been CEO since 2008, spearheading Hasbro’s entertainment push with franchise properties like Transformers and G.I. Joe, died last October. Chris Cocks, who...
- 2/7/2022
- by Dade Hayes
- Deadline Film + TV
Hasbro’s thriving analog and digital games business helped its first-quarter profit beat Wall Street expectations, but Covid-19-related struggles in film and TV resulted in only a 1% uptick in revenue.
Total revenue came in at $1.15 billion, up only about $9.2 million from the year-ago quarter and just shy of analysts’ consensus forecast for $1.17 billion. Earnings per share of 84 cents soared above predictions for 65 cents.
The division focused on franchise brands like Magic: The Gathering, Play-Doh and Nerf posted a 24% jump in revenue to $492 million. TV and film revenue dropped 34% to $194 million, a decline the company blamed on pandemic-related theater closures and timing of deliveries for later in the year.
During a conference call with analysts, CEO Brian Goldner painted a bright picture of the company’s film and TV business. He said 2021 results will be at 2019 levels and that consumer concern about going to movie theaters will “dissipate as the situation continues to get better.
Total revenue came in at $1.15 billion, up only about $9.2 million from the year-ago quarter and just shy of analysts’ consensus forecast for $1.17 billion. Earnings per share of 84 cents soared above predictions for 65 cents.
The division focused on franchise brands like Magic: The Gathering, Play-Doh and Nerf posted a 24% jump in revenue to $492 million. TV and film revenue dropped 34% to $194 million, a decline the company blamed on pandemic-related theater closures and timing of deliveries for later in the year.
During a conference call with analysts, CEO Brian Goldner painted a bright picture of the company’s film and TV business. He said 2021 results will be at 2019 levels and that consumer concern about going to movie theaters will “dissipate as the situation continues to get better.
- 4/27/2021
- by Dade Hayes
- Deadline Film + TV
Hasbro beat Wall Street analysts expectations, posting fourth-quarter revenue of $1.72 billion, up 4% from the year-earlier quarter.
Adjusting for items, earnings reached $1.27 a share, ahead of analysts’ consensus expectation for $1.14.
Gaming as a category posted a 27% rise in revenue to $561.2 million as the company continued to cope with the effects of the coronavirus. While the pandemic has decimated retail sales, it has also spurred a rise in stay-at-home activities like game playing and streaming, both areas of strength for Hasbro. Its stable of gaming brands includes Magic: The Gathering and Monopoly. An expanded line of games and toys related to eOne franchises Peppa Pig and Pj Masks is due out later in 2021.
Results reflect pro forma comparisons with 2019 given the acquisition of eOne, which closed at the end of 2019. Moving forward, quarterly comparisons will be apples-to-apples.
As a segment, eOne saw revenue drop 21% in 2020 to $956.5, which Hasbro blamed on production shutdowns and other Covid-19 issues.
Adjusting for items, earnings reached $1.27 a share, ahead of analysts’ consensus expectation for $1.14.
Gaming as a category posted a 27% rise in revenue to $561.2 million as the company continued to cope with the effects of the coronavirus. While the pandemic has decimated retail sales, it has also spurred a rise in stay-at-home activities like game playing and streaming, both areas of strength for Hasbro. Its stable of gaming brands includes Magic: The Gathering and Monopoly. An expanded line of games and toys related to eOne franchises Peppa Pig and Pj Masks is due out later in 2021.
Results reflect pro forma comparisons with 2019 given the acquisition of eOne, which closed at the end of 2019. Moving forward, quarterly comparisons will be apples-to-apples.
As a segment, eOne saw revenue drop 21% in 2020 to $956.5, which Hasbro blamed on production shutdowns and other Covid-19 issues.
- 2/8/2021
- by Dade Hayes
- Deadline Film + TV
Hasbro and Entertainment One have made a deal to for the toy giant to acquire the independent studio in an all-cash transaction valued at $4 billion.
The combination will blend eOne preschool brands like Peppa Pig and Pj Masks with Hasbro’s TV and film expertise, which has taken a leap over the past decade through franchises like Transformers.
Under the deal, eOne shareholders will receive $6.86 in cash for each common share of eOne, which is a 31% premium to eOne’s 30-day volume weighted average price as of today.
In a conference call with investors, Hasbro CFO Deborah Thomas said the companies have identified about $130 million in cost synergies by 2022. The savings can be achieved through shifts like bringing licensing activities in-house, she said. CEO Brian Goldner said the $130 million is cost savings only, not revenue opportunities.
Top eOne executives have agreed to join the Hasbro team, the companies said. eOne...
The combination will blend eOne preschool brands like Peppa Pig and Pj Masks with Hasbro’s TV and film expertise, which has taken a leap over the past decade through franchises like Transformers.
Under the deal, eOne shareholders will receive $6.86 in cash for each common share of eOne, which is a 31% premium to eOne’s 30-day volume weighted average price as of today.
In a conference call with investors, Hasbro CFO Deborah Thomas said the companies have identified about $130 million in cost synergies by 2022. The savings can be achieved through shifts like bringing licensing activities in-house, she said. CEO Brian Goldner said the $130 million is cost savings only, not revenue opportunities.
Top eOne executives have agreed to join the Hasbro team, the companies said. eOne...
- 8/22/2019
- by Patrick Hipes and Dade Hayes
- Deadline Film + TV
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