What to Expect from Hasbro (HAS) First Quarter 2024 Earnings Report
Tuesday, 16 April 2024, 18:19
Revenue
- Analysts projection: Revenues of $741.2 million, a 25% decline from the year-ago period.
- Previous performance: Q4 2023 revenues declined 23% to $1.3 billion.
Earnings
- Consensus estimate: EPS of $0.30, compared to $0.01 in Q1 2023.
- Q4 2023: Adjusted EPS was $0.38.
Key Points
- Challenging period in 2023: Focus on transforming business, with revenue growth in specific segments but declines in others.
- Consumer Product segment: Revenues fell 25% last quarter with a projection of 7-12% decline in 2024.
- Strategic initiatives: 'Fewer, Bigger, Better' strategy and focus on key brands for growth and margin expansion.
- Growth focus areas: FURBY, TRANSFORMERS, PEPPA PIG, Board Games, Action Figures, with support from Walt Disney collaboration.
Last quarter, Hasbro (HAS) faced challenges in different segments and announced strategic plans to address revenue declines and drive growth. With a focus on repositioning inventory, cost management, and brand investments, the company aims to navigate through the challenging toy market effectively.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.