Hasbro Inc Stock Price, News & Analysis

Hasbro reported Q1 2021 financial results showing net revenues of $1.11 billion, a 1% increase from Q1 2020. The operating profit surged to $147.3 million, compared to a loss of $23.3 million last year. Net earnings reached $116.2 million, a significant turnaround from a loss of $69.7 million. The company's cash position improved to $1.43 billion after retiring $300 million in debt. The Consumer Products segment led growth with a 14% revenue rise, while Entertainment faced a 32% decline. Hasbro targets double-digit revenue growth for the full year.

Hasbro (NASDAQ: HAS) has finalized an agreement to sell its subsidiary, Entertainment One Music, for US$385 million in cash. The deal, approved by both Hasbro and Entertainment One Canada Limited, awaits customary closing conditions and regulatory approvals. eOne Music will operate independently under Chris Taylor post-sale. Proceeds will be used for debt reduction and corporate purposes. The transaction is projected to close in the second or third quarter of 2021.

Hasbro (NASDAQ: HAS) has partnered with Roblox Corporation (NYSE: RBLX) to launch a new line of NERF blasters based on popular Roblox games like ADOPT ME! and JAILBREAK, set to hit U.S. stores this Fall. Additionally, a Roblox-themed MONOPOLY board game is now available for pre-order at $19.99. Each product includes redeemable codes for virtual items within the Roblox platform, enhancing the consumer experience. This collaboration aims to merge the physical and digital play experiences for fans aged 16 and older in the U.S. and Canada.

Hasbro, Inc. (NASDAQ: HAS) will host a webcast for its Q1 2021 earnings conference call on April 27, 2021, at 8:30 a.m. ET. Financial results will be released prior to the call. The webcast will be accessible on Hasbro's Investor Relations website, where certain financial metrics required by Regulation G will also be available. A replay of the call will be posted approximately two hours after the event concludes. As a leader in global play and entertainment, Hasbro's portfolio includes popular brands like MAGIC: THE GATHERING and TRANSFORMERS.

Wizards of the Coast, a subsidiary of Hasbro (NASDAQ: HAS), has launched Magic: The Gathering Arena for mobile and tablet devices, available for free on App Store and Google Play. The new app features touch controls, allowing players to manage their collection and compete against others on various platforms. This launch supports all MTG Arena card sets and enhances gameplay accessibility for its growing player community.

Hasbro (NASDAQ: HAS) is updating Monopoly for the first time in 85 years by changing all 16 Community Chest Cards. Fans will vote for new card ideas at MonopolyCommunityChest.com. The refresh reflects the evolving meaning of community, especially post-2020. Additionally, Hasbro will host the Monopoly Charity Classic featuring a $350,000 Community Chest fund to support community charities. This event will be streamed on YouTube this Spring, where viewers can also preview new card designs. The updated game will be available in Fall 2021.

Wizards of the Coast, a division of Hasbro (NASDAQ: HAS), is set to launch DARK ALLIANCE, an action roleplaying game based on Dungeons & Dragons, on June 22, 2021. The game features real-time combat and co-op gameplay with iconic characters including Drizzt Do'Urden. Pre-orders are available for various editions, including a Steelbook edition priced at $59.99 and a digital edition for $39.99. Players purchasing on PlayStation or Xbox will benefit from cross-platform compatibility. This release marks a pivotal expansion into video games for the company.

Hasbro, Inc. (NASDAQ: HAS) announced that CEO Brian Goldner and CFO Deborah Thomas will participate in the UBS Global Consumer and Retail Virtual Conference on March 9, 2021, at 9 AM Eastern. Details on presentation times may change, and interested parties can find more information by contacting the conference host. The webcast will be accessible via Hasbro's Investor Relations page, with an archive available for 90 days post-event. Hasbro is recognized for its commitment to creating engaging play experiences and has received accolades for corporate social responsibility.

Hasbro (NASDAQ: HAS) presented its strategic growth drivers and new segment reporting during a virtual investor event. The company introduced three new financial segments: Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment. CEO Brian Goldner emphasized a focus on profitability and expected revenue growth across all segments in 2021, including a target for double-digit growth. Hasbro plans to enhance cash generation and maintain operating margins above 16% by capitalizing on brand potential and diverse entertainment projects, while establishing organizational clarity.