Hasbro Reports Disappointing Q4 Results

1 Mins read

Shares of Hasbro Inc. (HAS) took a nose-dive of 12.1% in premarket trading on Tuesday, marking their worst performance in four years. The dramatic drop came in the wake of the toy maker’s fourth quarter earnings report, which fell significantly short of expectations.

Disappointing Earnings and Revenue

Hasbro reported a net loss of $1.06 billion, or $7.64 per share, in its latest quarter. This is in sharp contrast to the $128.9 million loss, or 93 cents per share, registered during the same period the previous year. Adjusted earnings per share stood at 38 cents, down from $1.31, falling short of the FactSet consensus of 65 cents.

Furthermore, the company recorded a 23.2% decline in revenue, with sales totaling $1.29 billion, which also missed the FactSet consensus of $1.34 billion.

Segment Performance

While some segments showed resilience, others experienced significant setbacks. Wizards of the Coast and Digital Gaming revenue saw a positive growth of 10%. However, Consumer Products revenue plummeted by 19%, and Entertainment revenue sank by a staggering 31%.

Bleak Outlook for 2024

Looking ahead to 2024, Hasbro foresees Wizards of the Coast revenue falling by 3% to 5%, and Consumer Products revenue is expected to decline by 7% to 14%.

Market Comparison

Despite this disappointing news, Hasbro stock has witnessed a relatively strong performance over the past three months, showing an 18.4% increase. In comparison, the S&P 500 index has advanced by only 13.8% during the same period.

Stay tuned for further updates on Hasbro’s efforts to turn the tide and recover from these setbacks.

Related posts

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

2 + 7 =