Q2 2025 Hasbro Inc Earnings Call Transcript
Key Points
- Wizards of the Coast had a standout quarter with MAGIC: THE GATHERING growing 23% year-over-year in Q2 and 32% year-to-date.
- Final Fantasy set became the highest-grossing Magic set ever, indicating strong demand and successful IP partnerships.
- Hasbro Inc (HAS) raised both top and bottom-line guidance for 2025, reflecting confidence in their diversified portfolio.
- The company achieved a 46.3% operating margin in the Wizards of the Coast and Digital Gaming segment, showcasing strong cost execution.
- Hasbro Inc (HAS) is making significant progress in its digital pipeline, with major investments in new gaming projects like Exodus and a new Dungeons & Dragons game.
- Consumer Products revenue declined 16% due to retailer order timing and market softness in select geographies.
- The company recorded a $1 billion non-cash goodwill impairment charge in the Consumer Products segment due to tariff impacts.
- Tariffs remain a headwind, with an estimated $60 million expense expected in the 2025 P&L.
- Retailers are delaying holiday inventory builds and pushing shelf resets into Q3, impacting Q2 consumer products revenue.
- Hasbro Inc (HAS) anticipates a decline of 5% to 8% in Consumer Products revenue for the year, reflecting ongoing challenges in the segment.
Good morning, and welcome to the Hasbro second quarter 2025 earnings conference call. (Operator Instructions) Today's conference is being recorded. (Operator Instructions)
At this time, I'd like to turn the call over to Fred Wightman, Vice President, Hasbro Investor Relations. Please go ahead.
Thank you, and good morning, everyone. Joining me today are Chris Cocks, Hasbro's Chief Executive Officer; and Gina Goetter, Hasbro's Chief Financial Officer and Chief Operating Officer. Today, we'll begin with Chris and Gina providing commentary on the company's performance, and then we'll take your questions.
The earnings release and presentation slides for today's call are posted on our investor website. The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures, which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the
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