Hasbro (HAS) Misses Q1 EPS by 24c, Miss on Revenues
Hasbro (NASDAQ: HAS) reported Q1 EPS of $0.10, $0.24 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $716 million versus the consensus estimate of $819.4 million.
- First quarter 2018 revenues decreased to $716.3 million due to the liquidation of Toys“R”Us and retail inventory overhang, primarily in Europe;
- Reported net loss of $112.5 million or $0.90 per diluted share, includes after-tax expenses of $61.4 million associated with Toys“R”Us; $15.7 million of severance costs associated with an acceleration of the Company’s ongoing commercial organization transformation; and a net charge of $47.8 million related to U.S. tax reform (the “Non-GAAP Adjustments”);
- Adjusted net earnings of $12.4 million or $0.10 per diluted share;
- Ended the quarter with $1.6 billion in cash and returned $109.6 million to shareholders; $70.8 million in dividends and $38.8 million in share repurchases.
For earnings history and earnings-related data on Hasbro (HAS) click here.