Q3 2025 Hasbro Inc Earnings Call Transcript
Key Points
- Hasbro Inc (HAS) reported strong year-over-year growth in net revenue and operating profit, driven by key brands like MAGIC, Marvel, MONOPOLY, PEPPA PIG, Beyblade, and GI JOE.
- MAGIC posted a 40% growth year-to-date, fueled by new player acquisition and collaborations with popular IPs such as Spider-Man and Final Fantasy.
- Wizards of the Coast segment saw a 42% revenue increase, with MAGIC revenue up 55%, reflecting strong engagement and product mix.
- Hasbro Inc (HAS) is diversifying its supply chain, aiming to reduce reliance on any single country outside the US to less than a third by 2026.
- The company raised its full-year guidance, expecting high single-digit revenue growth and adjusted operating margin between 22% to 23%.
- Consumer Products segment faced a 7% revenue decline due to delayed retailer orders and licensing headwinds.
- Tariff expenses impacted margins, with a $60 million expected impact on the 2025 P&L.
- Adjusted earnings per diluted share decreased by 3%, affected by a higher tax rate and foreign exchange impacts.
- The company anticipates consumer products to finish the year down mid-single digits, primarily due to tariffs.
- Royalty expenses for Wizards of the Coast increased significantly, impacting overall profitability.
Good morning. Welcome to Hasbro's third-quarter 2025 earnings conference call. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time.
At this time, I would like to turn the call over to Fred Wightman, Vice President, 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 will begin with Chris and Gina providing commentary on the company's performance, and then we'll take 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-GAAP
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