Hasbro (HAS) Tops Q3 EPS by 3c, Slight Miss on Revenues

Hasbro (NASDAQ: HAS) reported Q3 EPS of $2.09, $0.03 better than the analyst estimate of $2.06. Revenue for the quarter came in at $1.79 billion versus the consensus estimate of $1.8 billion.

• Third quarter 2017 revenues increased 7% to $1.79 billion, including 7% revenue growth in the U.S. and Canada segment; 7% in the International segment, including a favorable $27.9 million in foreign exchange; and 4% in the Entertainment and Licensing segment;
• Revenue growth in Franchise Brands, Hasbro Gaming and Emerging Brands;
• Operating profit essentially flat at $360.9 million, or 20.1% of net revenues;
• Net earnings increased 3% to $265.6 million, or $2.09 per diluted share; Reported net earnings include a $0.04 per diluted share benefit versus third quarter 2016 from the adoption of FASB ASU No. 2016-09;
• Company returned $164.3 million to shareholders during the quarter: $71.4 million in dividends and $92.9 million in share repurchase;
• Quarter-end cash and cash equivalents of $1.2 billion.

For earnings history and earnings-related data on Hasbro (HAS) click here.

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