Q1 2026 Hasbro Inc Earnings Call Transcript
Key Points
- Hasbro Inc (HAS) reported a 13% revenue growth in Q1 2026, driven by strong performance from Wizards of the Coast.
- Magic: The Gathering's new set, Lorwyn Eclipsed, became the best-selling Magic Premier set of all time, indicating strong consumer engagement.
- The company achieved a 29% increase in adjusted operating profit, with a significant improvement in operating margin.
- Hasbro Inc (HAS) is seeing positive trends in consumer products with point-of-sale growth and share gains in key categories.
- The company is on track to meet its full-year financial commitments, maintaining guidance for revenue growth and operating margins.
- Hasbro Inc (HAS) experienced a cybersecurity incident, leading to additional operating expenses and delayed revenue recognition.
- Higher oil costs are expected to impact freight, resin, and packaging costs, particularly in the second half of 2026.
- The Consumer Products segment faced challenges with higher royalty expenses and incremental tariffs affecting profitability.
- The company anticipates a shift in some receivables from Q2 to Q3 due to the cyber incident, impacting cash flow.
- There is uncertainty around the timing of tariff claim refunds, which are not yet factored into the company's financial outlook.
Good morning, and welcome to the Hasbro first quarter 2026 earnings call. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time. Finally, I'd like to turn the call over to Fred Wightman, Vice President, Hasbro Investor Relations. Please go ahead, sir.
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. We'll begin today's call with Chris and Gina providing commentary on the company's performance before taking your questions.
Our 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
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