Hasbro (HAS) Tops Q2 EPS by 4c
Hasbro (NASDAQ: HAS) reported Q2 EPS of $0.33, $0.04 better than the analyst estimate of $0.29. Revenue for the quarter fell 4% to $797.7 million versus the consensus estimate of $773.07 million.
“Our second quarter results continue a strong start to the year with good underlying momentum in our Franchise and Partner brands across geographies,” said Brian Goldner, Hasbro’s Chairman, President and Chief Executive Officer. “The execution of our brand blueprint strategy, including our recent decision to sell our final manufacturing locations and the continued development of new relationships in content development, furthers the transformation of Hasbro into an organization focused on global brand building. We are well positioned for the remainder of 2015, but importantly we continue to develop our capabilities for the long-term execution of our strategy toward unlocking the full potential value of our brands.”
“Our second quarter results came with numerous challenges, including a significant negative foreign exchange impact and difficult year-over-year comparisons in several brands,” said Deborah Thomas, Hasbro’s Chief Financial Officer. “Even with these challenges, we delivered a strong second quarter and a good first half of 2015. We continue to make important investments across our business to promote brand initiatives and to further improve the global efficiency of Hasbro. Some of these investments will be more prominent in the second half of 2015 than they were in the first six months of the year.”
For earnings history and earnings-related data on Hasbro (HAS) click here.