Hasbro, Inc. (HAS) Q3 Earnings Beat, But Q4 Outlook A Bit Light

Hasbro, Inc. (HAS) Q3 Earnings Beat, But Q4 Outlook A Bit Light”

It has revised its expectation for fourth-quarter revenue, projecting an increase of 4% to 7% versus the fourth quarter 2016. Net earnings for the third quarter, meanwhile, grew 3% to US$265.6 million, while operating profit decreased slightly to US$360.9 million (compared to US$362.1 million last year).

The company said it continues to work closely with Toys" R " Us heading into the holiday period. This had it beating out analysts' earnings per share and revenue estimates of $1.94 and $1.78 billion for the quarter, but it wasn't enough to save HAS stock. While the earnings beat, they were adversely impacted by Toys "R" Us's bankruptcy, and the negative effect will persist into the fourth quarter, and dent sales during the key holiday shopping season.

Hasbro said in a statement net revenue in the third quarter increased 7% to US$1.79bn from US$1.68bn in 2016.

The company said despite the quarter presenting "several obstacles", it remained well positioned for the holiday "backed by strong consumer momentum". It now expects revenue for the quarter to be up by 4% to 7% when compared to the same time past year. Analysts expected revenues of $1.78 billion for the quarter.

Global segment net revenues grew 7 percent to $739.2 million. These worldwide revenues include a favorable US$27.9 million impact from foreign exchange. Emerging markets revenues increased 8 percent in the quarter.

Hasbro's entertainment and licensing segment net revenue grew 4% to $58.4 million compared to $56.1 million in 2016, behind higher consumer products and entertainment revenues. On a regional basis, revenue was up in Europe (3%), Latin America (13%) and Asia Pacific (17%).

Franchise Brand revenues increased 7 percent driven by revenue growth in NERF, TRANSFORMERS, MY LITTLE PONY and MONOPOLY. While brands like Beyblade, Star Wars, Disney Descendants and Sesame Street posted revenue gains in Q3 2017, this growth was offset by declines in brands like Yo-Kai Watch and Dreamworks' Trolls.

Like this



23 October 2017
New California Fire Warnings Issued Amid Extreme Heat, High Winds
Not only do we have state, federal and local fire resources, but we have additional military aircraft on the ready. The National Weather Service (NWS) said brace for very hot coastal and valley areas on Monday and Tuesday.

23 October 2017
DPM Zahid denies Malaysia now seeking Interpol help over Jho Low's whereabouts
Deputy Prime Minister Dr Ahmad Zahid Hamidi reiterated that there are no more cases against Low Taek Jho . Reports said Zahid was responding to a question from Azmin in the Dewan Rakyat this morning.

23 October 2017
Ralph Lauren Corporation (RL) Shares Bought by Janus Henderson Group PLC
The fund owned 114,664 shares of the textile maker's stock after acquiring an additional 105,230 shares during the period. As per Thursday, August 11, the company rating was maintained by Citigroup. (NYSE:MATX) rating on Thursday, September 21.

23 October 2017
Aamir Khan wishes 'Superstar' Zaira Wasim on her birthday
This film is facing heavy competition from Golmaal Again , which minted a whopping Rs 30 crore on its opening day i.e, Friday. The film was released on 19th October and is running strong at the box office.

23 October 2017
Animal Crossing focused Nintendo Direct coming tomorrow
Nintendo has announced that it will be holding a special Animal Crossing themed Nintendo Direct on October 25th. Details regarding the pricing, release date, and gameplay will likely be revealed through the presentation.

23 October 2017
Merck KGaA (MRK) PT Set at €120.00 by UBS AG
Zacks Investment Research raised Merck & from a "sell" rating to a "hold" rating in a research note on Tuesday, October 17th. Finally, BidaskClub lowered shares of Merck & from a "hold" rating to a "sell" rating in a report on Wednesday, August 9th.

23 October 2017
Top US diplomat due in Pakistan Tuesday
Islamabad has asked Washington not to make Pakistan scapegoat for its failure in Afghanistan. Rex Tillerson is visiting Pakistan on invitation of Foreign Minister Khawaja Muhammad Asif.

23 October 2017
Fox renewed O'Reilly despite knowing of harassment claims
He also claimed that no woman ever spoke to human resources or the legal department about his behavior in his 21 years at Fox News .

23 October 2017
Renee Zellweger to Play Judy Garland in Judy
Pathé will distribute the film in the UK, France and Switzerland and will handle sales throughout the rest of the world. The film will also follow Garland as she begins her romance with her fifth husband, Mickey Deans .

23 October 2017
Trump Disputes Widow's Story, Continuing Feud Over Army Death
And I was, it made me cry because I was very angry at him the tone of his voice and how he said it. She said she learned her husband was missing in action when military members came to her house.