🔹 EPS: $0.70 (Est. $0.69) 🟢
🔹 Revenue: $887.1M (Est. $771.15M) 🟢; UP +17% YoY
🔹 Operating Profit: $171M (19.2% margin)
🔹 Adjusted Operating Profit: $222M (25.1% margin); UP +5.5pp YoY
🔹 Operating Cash Flow: $138M (vs. $178M YoY)
🔹 Returned $98M to shareholders via dividends, reduced debt by $50M
Segment Highlights:
Wizards of the Coast and Digital Gaming:
🔹 Revenue: UP +46% YoY
🔹 Magic: The Gathering Revenue: UP +45%
🔹 Monopoly Go! Revenue: $39M
🔹 Operating Profit: UP +87% YoY
🔹 Operating Margin: 49.8% (UP +11.0pp YoY)
Consumer Products:
🔹 Revenue: DOWN -4% YoY
🔹 Operating Margin: -11.0%; Adjusted Margin: -7.8% (Improved +1.4pp YoY)
🔹 Growth brands: Marvel, Beyblade, Transformers, Monopoly, licensed IP
Entertainment:
🔹 Revenue: DOWN -5% YoY (timing-related)
🔹 Operating Loss: $11M (vs. $6M profit YoY) 🔴
🔹 Adjusted Operating Profit: $17M (vs. $18M YoY)
Strategic & Macro Commentary:
🔸 CEO Chris Cocks: “Our Playing to Win strategy is delivering. We’re outperforming in a tough environment and investing in long-term bets with strong early returns.”
🔸 CFO Gina Goetter: “Higher-margin segments like Wizards and licensing are offsetting tariff risks and driving margin expansion.”
🔸 Tariffs: No material Q1 impact due to timing
🔸 Hasbro reaffirms its $1B cost savings target
🔸 Board declared a quarterly dividend of $0.70/share, payable June 4, 2025
Disney Partnership Update:
🔸 Extended multi-year strategic licensing deal with Disney Consumer Products
🔸 Covers Star Wars and Marvel toys, collectibles, board games
🔸 Continued integration of Marvel characters into Magic: The Gathering
🔸 Includes major toy lines: The Black Series, Vintage Collection, Marvel Legends