Business
Hasbro Reports Growth in Revenues, Operating Profit, Net Earnings and EBITDA
Second Quarter 2022 Net revenues increased 1% to $1.34 billion Revenues up 4% absent an unfavorable $32.7 million impact of foreign exchange Consumer
About this update from Hasbro, Inc.
[{"type":"text","content":"\nSecond Quarter 2022\n\n\nNet revenues increased 1% to $1.34 billion\n\n\nRevenues up 4% absent an unfavorable $32.7 million impact of foreign exchange\n\n\nConsumer Products segment revenues up 7%; up 9% absent the impact of foreign exchange\n\n\nWizards of the Coast and Digital Gaming segment revenues up 3%; up 5% absent the impact of foreign exchange\n\n\nEntertainment segment revenues declined 18% driven by the sale of the music business in the beginning of the third quarter 2021; down 16% absent the impact of foreign exchange; and down 4% excluding the Music business\n\n\n\n\n\nOperating profit of $219.1 million, or 16.4% of revenues\n\n\nAdjusted operating profit up 14% to $241.0 million, or 18.0% of revenues, up 200 basis points\n\n\n\nNet earnings of $142.0 million, or $1.02 per diluted share, up more than 100%\n\n\nAdjusted net earnings up 10% to $160.6 million, or $1.15 per diluted share\n\n\n\nEBITDA of $285.4 million\n\n\nAdjusted EBITDA up 6% to $308.3 million\n\n\n\nCompleted D&D Beyond acquisition and returned $221.4 million to shareholders through dividend and share repurchase\n\n\nPaid $146.3 million for D&D Beyond, a strategic, complementary acquisition that accelerates direct-to-fans capability for Dungeons & Dragons in physical and digital play\n\n\nPaid $97.4 million in dividends to shareholders during the quarter\n\n\nRepurchased $124.0 million of Hasbro common stock\n\n\n\n\n \n\n PAWTUCKET, R.I.--(BUSINESS WIRE)--\nHasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today reported financial results for the second quarter 2022, including growth in revenues, operating profit, net earnings and EBITDA.\n\n\"The Hasbro team delivered strong second quarter results, driving mid-single digit revenue growth absent foreign exchange and 200 basis points of adjusted operating margin expansion,\" said Chris Cocks, Hasbro chief executive officer. \"Wizards of the Coast turned in its biggest quarter ever, led by 15% growth in tabletop gaming and 11% growth in MAGIC: THE GATHERING across platforms. We also significantly enhanced our digital play and direct-to-fan capabilities with the acquisition of D&D Beyond which will serve as an important growth driver for Hasbro's industry leading fantasy gaming portfolio.\n\n\"We are making significant progress in our strategic plan review and are identifying and ...