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Shares of Hasbro Inc. (NASDAQ: HAS ) has fallen 39% over the past 12 months and 12% over the past month. The company is scheduled to report its fourth quarter 2022 earnings on Thursday, February 16th. Last month, the toy maker announced some major organizational changes and presented preliminary results for the fourth quarter and full year. Here are some things to note in your upcoming earnings report:
results
In its preliminary results announcement, Hasbro stated that revenue for the fourth quarter of 2022 will be approx. $1.68 billion, representing a 17% year-over-year decrease. This is in line with the consensus target. In the third quarter of 2022, revenue fell 15% YoY to $1.68 billion, hurt by high inflation.
fortunate
Hasbro will report a loss per share of $0.93-1.00 on a GAAP basis for Q4 2022. This compares to EPS of $0.59 in the same period a year ago. In Q3 2022, GAAP EPS fell 49% YoY to $0.93.
Dungeons & Dragons owners will report adjusted EPS of $1.29-1.31. The consensus target is for EPS of $1.29. This compares to adjusted EPS of $1.21 last year and $1.42 in the third quarter.
Segments and organizational change
While the revenue of the Wizards of the Coast and Digital Gaming segment will increase 22% YoY to $ 339 million, the Consumer Products and Entertainment segment will drop double digits. Revenue in Consumer Products will decline 26% to $1 billion on underperformance due to a challenging holiday consumer environment. Entertainment segment revenue will decline 12% YoY to $335 million.
Hasbro aims to generate $250-300 million in annual cost savings by the end of 2025. As part of this effort, the company is laying off 15% of its global workforce. The toy maker also announced that COO Eric Nyman will be leaving the company. Details of the organizational model change as well as the management team should be sought.
Full year early results
For the full year 2022, revenue will decline 9% YoY to $5.86 billion. GAAP EPS will be $1.40-1.46 while adjusted EPS will be $4.43-4.45. Wizards of the Coast and Digital Gaming segment revenues will rise 3% YoY while Consumer Products and Entertainment segments will see revenue declines of 10% and 17%, respectively.
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