Hasbro (NASDAQ: HAS) lifts Q1 profit outlook, reiterates 2026 guidance after cyber incident
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Hasbro, Inc. released preliminary results for the first quarter ended March 29, 2026, showing higher sales and profitability and reiterating its full-year 2026 outlook. The company expects Q1 revenue of approximately $970 million to $985 million, up about 9% to 11% versus last year, driven by continued strength in MAGIC: THE GATHERING. Operating profit is projected at roughly $235 million to $245 million, an increase of about 38% to 44% year over year, with adjusted operating profit of $250 million to $260 million, up about 12% to 17%.
For 2026, Hasbro continues to anticipate total company revenue growth of 3% to 5% in constant currency, an adjusted operating margin of 24% to 25%, and adjusted EBITDA between $1.40 billion and $1.45 billion. The company also provided an update on previously disclosed unauthorized access to its network, which it believes has been contained. First-quarter financial results were not impacted, but some second-quarter revenue and operating profit in the consumer products segment are expected to be delayed due to order processing, shipping, and invoicing disruptions, along with additional investigatory and advisor costs.
Positive
- Strong preliminary Q1 profit growth: Operating profit is expected at approximately $235–$245 million, up about 38–44% year over year, with adjusted operating profit of $250–$260 million, up about 12–17%, indicating meaningful profitability improvement.
- Guidance reiterated with solid 2026 targets: The company continues to expect 2026 revenue growth of 3–5% in constant currency, adjusted operating margin of 24–25%, and adjusted EBITDA of $1.40–$1.45 billion, suggesting confidence in its full-year plan despite operational disruption.
Negative
- Cyber incident driving near-term operational disruption: Unauthorized network access led Hasbro to proactively take systems offline, delaying its Q1 10-Q filing and creating expected second-quarter revenue and operating profit impact in the consumer products segment.
- Incremental second-quarter costs from incident response: The company anticipates certain investigatory and advisor expenses related to the unauthorized access in the second quarter of 2026, adding to short-term earnings pressure.
Insights
Hasbro posts strong Q1 prelims but flags cyber-related Q2 headwinds.
Hasbro is guiding Q1 2026 revenue to about $970M–$985M, up 9–11% year over year, with operating profit of $235M–$245M, up 38–44%. Adjusted operating profit of $250M–$260M grows 12–17%, showing solid margin progress helped by MAGIC: THE GATHERING.
Management is reiterating full-year 2026 targets: total revenue growth of 3–5% in constant currency, adjusted operating margin of 24–25%, and adjusted EBITDA of $1.40B–$1.45B. Maintaining guidance after a cyber incident signals confidence in underlying demand and cost initiatives.
The company believes the previously disclosed unauthorized network access has been contained, but it expects second-quarter pressure in the consumer products segment from order, shipping, and invoicing delays plus investigatory and advisor costs. It notes most delayed shipments are expected to be recovered in the back half of 2026, and MAGIC: THE GATHERING releases, including the April 2026 Secrets of Strixhaven set, are proceeding as planned.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 revenue: $970M–$985M
Q1 2026 operating profit: $235M–$245M
Q1 2026 adjusted operating profit: $250M–$260M
+4 more
7 metrics
Q1 2026 revenue
$970M–$985M
Preliminary, about 9–11% growth vs prior year
Q1 2026 operating profit
$235M–$245M
Preliminary, about 38–44% growth vs prior year
Q1 2026 adjusted operating profit
$250M–$260M
Preliminary, about 12–17% growth vs prior year
2026 revenue growth guidance
3–5% in constant currency
Full-year total Hasbro revenue outlook
2026 adjusted operating margin guidance
24–25%
Full-year 2026 target range
2026 adjusted EBITDA guidance
$1.40B–$1.45B
Full-year 2026 outlook
Cyber incident Q2 impact
Expected impact (not quantified)
Anticipated Q2 revenue and operating profit effect in consumer products due to delays
Key Terms
Adjusted operating profit, Adjusted EBITDA, unauthorized access, strategic transformation initiatives, +2 more
6 terms
Adjusted operating profit financial
"•Adjusted operating profit of approximately $250 million to $260 million (+12-17% vs LY)"
Adjusted operating profit is a measure of a company’s routine profit from its core business activities after removing one‑time events, unusual costs or non‑cash items so the result reflects ongoing operations. Think of it like judging a car’s normal fuel efficiency after ignoring a single visit to the body shop; investors use it to compare underlying profitability across periods or peers and to judge whether the business is sustainably earning money, but the specific exclusions can be subjective.
Adjusted EBITDA financial
"•Adjusted EBITDA of $1.40 billion to $1.45 billion"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
unauthorized access technical
"Hasbro identified unauthorized access to the Company’s network."
Entry into computer systems, networks, facilities, or data by people who do not have permission to be there—whether by hacking, stolen credentials, bypassing locks, or improper insider activity. For investors, unauthorized access matters because it can lead to stolen customer or financial data, operational shutdowns, regulatory fines, and damage to reputation—like someone breaking into a locked file cabinet and taking sensitive documents, which can reduce a company’s value and increase costs.
strategic transformation initiatives financial
"Strategic transformation initiatives costs represent non-recurring expenses for strategic projects"
restructuring and severance costs financial
"Restructuring and severance costs associated with cost-savings initiatives across the Company."
Non-GAAP financial measures financial
"This press release includes non-GAAP financial measures as defined under Securities and Exchange Commission rules"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Revenue: $970M–$985M · Guidance included
Q1 2026
Revenue
$970M–$985M
+9–11% vs LY
Operating profit
$235M–$245M
+38–44% vs LY
Adjusted operating profit
$250M–$260M
+12–17% vs LY
Guidance
For full-year 2026, Hasbro expects total revenue growth of 3–5% in constant currency, adjusted operating margin of 24–25%, and adjusted EBITDA of $1.40B–$1.45B.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 23, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of Principal Executive Offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (401 ) 431-8697
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act.
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On April 23, 2026 , Hasbro, Inc. ("Hasbro" or the "Company”) announced certain preliminary financial information for the fiscal quarter ended March 29, 2026, and provided an update on the Company’s previously disclosed unauthorized network access. This information, as well as a copy of the press release, which is furnished herewith as Exhibit 99.1, is incorporated by reference herein.
The information furnished in Item 2.02, including the Exhibit attached hereto, shall not be deemed "filed" for any purpose, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language in any such filing.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits
99.1 Hasbro, Inc. Press Release, dated April 23, 2026.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HASBRO, INC. | ||||||||
| | ||||||||
| By: | /s/ Gina Goetter | |||||||
| Name: | Gina Goetter | |||||||
| Title: | Chief Financial Officer and Chief Operating Officer | |||||||
Date: April 23, 2026
EXHIBIT 99.1
For Immediate Release
Hasbro Announces Preliminary First Quarter 2026 Financial Results with Growth Across Revenue and Operating Profit, Reiterates 2026 Guidance, and Provides Update on Unauthorized Network Access
Announces Date for First Quarter 2026 Earnings Release and Conference Call
PAWTUCKET, R.I. -- April 23, 2026 -- Hasbro, Inc. (NASDAQ: HAS), a leading games, IP and toy company, today announced preliminary results for the first quarter ended March 29, 2026, with growth behind continued strength in MAGIC: THE GATHERING. The Company reiterated its full-year guidance. The Company plans to release full first quarter results before the market open on May 20th, 2026.
Preliminary Q1 2026 Expected Financial Results
Today, the Company announced certain unaudited preliminary financial information related to the first quarter ended March 29, 2026:
•Revenue of approximately $970 million to $985 million (+9-11% vs LY)
•Operating profit of approximately $235 million to $245 million (+38%-44% vs LY)
•Adjusted operating profit of approximately $250 million to $260 million (+12-17% vs LY)
Reiterates Full-Year 2026 Guidance
For the full year, the Company continues to expect:
•Total Hasbro revenue +3%-5% in constant currency
•Adjusted operating margin of 24%-25%
•Adjusted EBITDA of $1.40 billion to $1.45 billion
Update on Previously Disclosed Unauthorized Network Access
As previously disclosed, Hasbro identified unauthorized access to the Company’s network. Based on analysis with the assistance of outside cybersecurity experts and information to date, the Company believes that the unauthorized access has been contained and the Company is making progress in fully restoring its systems and operations.
This unauthorized access did not impact the Company’s financial results for the first quarter. Due to the Company’s implementation of containment measures, certain systems were proactively taken offline and are being brought online sequentially. As a result, Hasbro has experienced delays in compiling the information required to complete the preparation and release of its financial results for the first quarter of 2026, including the filing of its first quarter 10-Q.
The Company continues working with cybersecurity and forensic experts to identify and review any files potentially impacted. It will take additional actions as appropriate based on its review and findings, including providing any notifications deemed appropriate.
The Company continues to execute business continuity plans to enable it to take orders, ship product and conduct other key operations. Importantly, MAGIC: THE GATHERING shipments and its release cadence have continued as planned in the second quarter, including the April 2026 release of Secrets of Strixhaven. For the consumer products segment, the Company is shipping product, but it does anticipate some impact to second quarter revenues and operating profit due to expected order processing, shipping and invoicing delays. Given continued strength in POS, the expectation is that the majority of any delayed shipping in the second quarter will be made up in the back-half of 2026. The second quarter is also expected to contain certain investigatory and other advisor costs related to the unauthorized access. Further updates will be provided on the upcoming first quarter earnings conference call.
Conference Call & Webcast
Hasbro will webcast its first quarter 2026 earnings conference call on Wednesday, May 20, 2026 at 8:30 a.m. Eastern Time. The webcast and the accompanying presentation slides will be available to investors and the media on Hasbro’s Investor Relations home page at https://investor.hasbro.com/. A replay of the call will be available at the same location approximately two hours following completion of the event.
Certain financial and statistical information included in the webcast, such as information required by Regulation G, will be available at the time of the webcast on Hasbro’s Investor Relations website at https://investor.hasbro.com.
About Hasbro
Hasbro is a leading games, IP and toy company whose mission is to create joy and community through the magic of play. Hasbro delivers groundbreaking play experiences for fans of all ages around the world, through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more.
Through its franchise-first approach, Hasbro unlocks value from both new and legacy IP, including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, HASBRO GAMES, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands. Powered by its portfolio of thousands of iconic marks and a diversified network of partners and subsidiary studios, Hasbro brings fans together wherever they are, from tabletop to screen.
For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media.
Preliminary Financial Information
The unaudited financial information presented in this press release is preliminary and may change. The Company’s financial closing procedures with respect to the estimated financial information provided in this press release are not yet complete, and as a result, the Company's final results may vary materially from the preliminary results included in this press release. Hasbro undertakes no obligation to update or supplement the information provided in this press release until the Company releases its financial statements for the three months ended March 29, 2026, which will be reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 29, 2026. The preliminary financial information included in this press release reflects the Company's current estimates based on information available as of the date hereof and has been prepared by Company management. This preliminary financial information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future periods. This preliminary financial information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures as defined under Securities and Exchange Commission (“SEC”) rules, specifically Adjusted operating profit, which excludes, where applicable, acquired intangible amortization, strategic transformation initiatives, restructuring and severance costs, loss on disposal of business, eOne Film and TV business divestiture related costs, and non-cash goodwill impairment charges. As required by SEC rules, we have provided reconciliations of this measure to the most directly comparable GAAP measure. Management believes that adjusted operating profit provides investors with an understanding of the underlying performance of our business absent unusual events. This non-GAAP measure should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in our consolidated financial statements and filings with the SEC. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America.
Reconciliation of Non-GAAP Financial Measures
| Adjusted Operating Profit | ||||||||||||||
| Three Months Ended | ||||||||||||||
| March 29, 2026 | ||||||||||||||
| Low | High | |||||||||||||
Operating Profit (1) (Millions of Dollars): | $ | 235 | $ | 245 | ||||||||||
| Non-GAAP Adjustments: | ||||||||||||||
Acquired intangible amortization (2) | 10 | 10 | ||||||||||||
Strategic transformation initiatives (3) | 1 | 1 | ||||||||||||
Restructuring and severance costs (4) | 5 | 5 | ||||||||||||
| Adjusted Operating Profit: | $ | 250 | $ | 260 | ||||||||||
(1) Amounts may not sum due to rounding
(2) Represents intangible amortization costs related to the intangible assets acquired in the eOne acquisition.
(3) Strategic transformation initiatives costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to support the organization in identifying, realizing and capturing savings to create efficiencies and improve business processes and operations.
(4) Restructuring and severance costs associated with cost-savings initiatives across the Company.
Safe Harbor Statement
Statements in this press release that are not historical facts, such as those identified by the use of words “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” and similar expressions, are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements address the Company’s expectations or beliefs concerning future events, including the Company’s investigation of and containment efforts related to the unauthorized access and its impact on the Company’s financial condition and results of operations; the release of the Company’s first quarter 2026 earnings; expectations for our future performance and 2026 financial guidance. These statements are made based on management’s views and assumptions as of the date of this press release. Forward-looking statements by their nature address matters that are uncertain, and you are urged to view them with caution. A wide range of factors could materially affect future developments and performance, including but not limited to: the duration and magnitude of the Company's operational disruption stemming from the unauthorized access; the effectiveness of the Company's response to the unauthorized access and the business continuity plans and the ongoing assessment of the impact of the unauthorized access on its business, operations, financial results, and financial reporting; any further business disruptions from the unauthorized access and increased costs relating to the unauthorized access, including from any legal proceedings; and the accuracy of the Company's estimates and assumptions on which its preliminary financial estimates and financial projections, including any sales, margin or earnings guidance or outlook
it may provide from time to time, are based. Detailed information about these and other risks is included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025, and its other reports filed with the SEC. Except as required by applicable law, we do not undertake any obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events, or otherwise.
HAS-IR
Investors: Fred Wightman | Hasbro, Inc. | hasbro_investor_relations@hasbro.com
Media: Abby Hodes | Hasbro, Inc. | communications@hasbro.com
FAQ
What preliminary Q1 2026 revenue did Hasbro (HAS) report?
Hasbro expects Q1 2026 revenue of approximately $970 million to $985 million. This represents about 9–11% year-over-year growth, driven largely by continued strength in MAGIC: THE GATHERING and related releases, according to management’s preliminary, unaudited financial information.
How did Hasbro’s Q1 2026 operating profit and margins trend?
Hasbro projects Q1 2026 operating profit of about $235 million to $245 million, up roughly 38–44% year over year. Adjusted operating profit is expected at $250 million to $260 million, reflecting about 12–17% growth and signaling stronger underlying profitability versus the prior-year quarter.
Did Hasbro (HAS) change its full-year 2026 financial guidance?
Hasbro reaffirmed its full-year 2026 outlook. The company still targets total revenue growth of 3–5% in constant currency, adjusted operating margin of 24–25%, and adjusted EBITDA between $1.40 billion and $1.45 billion, indicating confidence in its annual plan despite operational disruption.
How did the unauthorized network access affect Hasbro’s Q1 2026 results?
Hasbro states the unauthorized network access did not impact its financial results for Q1 2026. However, containment measures required taking systems offline, delaying data compilation and the first-quarter 10-Q filing while the company restores systems and continues forensic review with external cybersecurity experts.
What impact does Hasbro expect from the cyber incident on Q2 2026 performance?
Hasbro anticipates some impact on Q2 2026 revenue and operating profit in its consumer products segment due to order processing, shipping, and invoicing delays. It expects most delayed shipments to be recovered in the back half of 2026 and also foresees certain investigatory and advisor costs.
Is MAGIC: THE GATHERING affected by Hasbro’s network incident?
Hasbro reports that MAGIC: THE GATHERING shipments and release cadence have continued as planned into Q2 2026. This includes the April 2026 release of Secrets of Strixhaven, indicating that this key franchise’s operations remain on track despite broader system restoration efforts.