Business
Hasbro Reports Revenue and Operating Profit Growth for the Full-Year and Fourth Quarter 2019
Board of Directors Declares Quarterly Dividend of $0.68 per share Completes Acquisition of eOne in Q1 2020 Full-Year 2019 Net revenues of $4.72 billion
About this update from Hasbro, Inc.
[{"type":"text","content":"\nBoard of Directors Declares Quarterly Dividend of $0.68 per share \n\n\nCompletes Acquisition of eOne in Q1 2020\n\n\nFull-Year 2019\n\n\n\nNet revenues of $4.72 billion increased 3%; Revenues increased 5% excluding an unfavorable $78.5 million impact of foreign exchange;\n\n\nOperating profit increased to $652.1 million or 13.8% of revenues; Adjusted operating profit of $669.8 million, or 14.2% of revenue, excluding $17.8 million of costs associated with the Entertainment One (eOne) acquisition; \n\n\nReported net earnings were $520.5 million or $4.05 per diluted share; Adjusted net earnings were $524.7 million, or $4.08 per diluted share, excluding after-tax net charges of $4.2 million, or $0.03 per diluted share; \n\n\nHasbro ended 2019 with year-end cash and cash equivalents of $4.58 billion, including $3.4 billion of eOne acquisition financing, cash received from foreign exchange hedges and other activities; Generated $653.1 million in operating cash flow; Returned $398.0 million to shareholders in 2019 including $336.6 million in dividends.\n\n\n\nFourth Quarter 2019\n\n\n\nNet revenues increased 3% to $1.43 billion, including an unfavorable $13.0 million impact of foreign exchange; \n\n\nOperating profit increased to $190.4 million or 13.3% of revenues; Adjusted operating profit of $208.2 million, or 14.6% of revenues, excluding $17.8 million of costs associated with the eOne acquisition;\n\n\nReported net earnings for the fourth quarter 2019 were $267.3 million or $2.01 per diluted share; Adjusted net earnings of $164.8 million, or $1.24 per diluted share, excluding after-tax net gains of $102.5 million, or $0.77 per diluted share. \n\n\n\n \n\n PAWTUCKET, R.I.--(BUSINESS WIRE)--\nHasbro, Inc. today reported financial results for the full-year and fourth quarter 2019.\n\n\n“The global Hasbro team delivered a good year and achieved key objectives we set for 2019. We profitably grew revenues across regions absent foreign exchange supported by the successful execution of our channel strategy; we delivered growth in MAGIC: THE GATHERING driven by the successful launch of Arena and we executed at a high level during the holiday season,\" said Brian Goldner, Hasbro’s chairman and chief executive officer. \"Our acquisition of Entertainment One accelerates our Brand Blueprint strategy and significantly expands our expertise an...