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Hasbro Reports Second Quarter 2025 Financial Results
PAWTUCKET, R.I.--(BUSINESS WIRE)--Hasbro, Inc. (NASDAQ: HAS), a leading games, IP, and toy company, today reported financial results for the second quarter 2025. 'Hasbro's return to growth in the first half of 2025 is clear validation that our Playing to Win strategy is working,' said Chris Cocks, Chief Executive Officer, Hasbro, Inc. 'We delivered record-setting results from MAGIC: THE GATHERING, alongside strong contributions from our games portfolio, licensing partnerships, and digital initiatives. With this momentum, we're increasing our full-year outlook and positioning Hasbro for sustained growth in 2025 and beyond.' 'We are raising our full-year revenue and adjusted EBITDA guidance, fueled by performance in our Wizards business. Despite a dynamic macro environment, the strength of our diversified business and cost productivity initiatives support our updated outlook,' said Gina Goetter, Hasbro Chief Financial Officer and Chief Operating Officer. Second Quarter 2025 Results Hasbro, Inc.'s revenue decreased 1%, with growth in Wizards and Digital Gaming nearly offsetting the decline in Consumer Products. MAGIC: THE GATHERING revenue grew 23% driven by the release of Final Fantasy , which set the record as being the biggest set release in Wizards history. , which set the record as being the biggest set release in Wizards history. Operating loss of $798 million includes a $1.0 billion non-cash goodwill impairment. Adjusted operating profit was $247 million stable year-over-year, reflecting the strength of MAGIC and a more efficient cost structure. Reported net loss of $6.10 per share and Adjusted net earnings of $1.30 per diluted share, an $0.08 improvement year over year. Returned $98 million to shareholders via dividends and reduced $12 million of outstanding debt. Second Quarter 2025 Segment Details Wizards of the Coast and Digital Gaming Segment Revenue increased 16% behind record growth in MAGIC: THE GATHERING and contributions from Monopoly Go! . MAGIC: THE GATHERING revenue increased 23% with growth in tabletop fueled by Final Fantasy and continued momentum in Secret Lair and backlist products. Monopoly Go! contributed $44M of revenue in the quarter. Operating profit decreased (-2%) driven by expected higher royalty expense; operating margin was 46.3%, down 8.4 points year over year. Consumer Products Segment Revenue decrease of 16% as growth in licensing was more than offset by anticipated softness in Toys driven by retailer order timing and geographic volatility. Growth across key brands including BEYBLADE, TRANSFORMERS, MONOPOLY and licensed products. Operating loss of $1,030 million includes $1.0 billion non-cash goodwill impairment. Adjusted operating profit of $1.2 million, with cost productivity within supply chain and managed expenses offsetting volume deleverage. Entertainment Segment Revenues declined 15% in the quarter related to the nature and timing of deals. Operating profit of $6 million compared to an operating loss of $1 million in the second quarter 2024. Adjusted operating profit of $10 million compared to adjusted operating profit of $18 million in the second quarter 2024. Year to Date 2025 Results Year to date Hasbro, Inc. revenue increased 7%, with continued growth in Wizards and Digital Gaming (+28%) offsetting declines in Consumer Products (-10%). Operating loss of $628 million includes $1.0 billion of non-cash goodwill impairment. Adjusted operating profit of $470 million benefited from favorable business mix and reduced operating expenses. Reported net loss of $5.41 per share and Adjusted net earnings of $2.35 per diluted share, a $0.52 improvement versus the same period last year. Returned $196 million to shareholders via dividends and reduced debt by $62 million. Year to Date Quarter 2025 Segment Details Wizards of the Coast and Digital Gaming Segment Revenue increased 28% due to momentum in MAGIC: THE GATHERING and contributions from Monopoly Go! . MAGIC: THE GATHERING revenue increased 32% with growth in tabletop. Year to date Monopoly Go! contributed $83M of revenue. Operating profit increased 28% and operating margin was 47.9%, flat compared to the same period last year. Consumer Products Segment Revenue decrease of 10% in line with expectations, with growth in licensing offset by declines in Toy due to the timing of retail orders. Growth across key brands including MARVEL, BEYBLADE, TRANSFORMERS, MONOPOLY and licensed products. Operating loss of $1,074 million includes non-cash goodwill impairment. Adjusted operating loss of $30 million, a 22% improvement versus the same period in 2024 as improved expenses are helping to offset volume deleverage. Entertainment Segment Revenues declined 9% in the period related to the timing of deals. Operating loss of $5 million compared to operating profit of $5 million in the same period last year. Adjusted operating profit of $28 million compared to adjusted operating profit of $36 million year to date 2024. See the financial tables accompanying the press release for a reconciliation of GAAP to non-GAAP financial measures. 2025 Company Outlook and Capital Allocation For the full year, the Company now expects: Total Hasbro revenues up mid-single digits in constant currency (previously up slightly). Adjusted operating margin of 22%-23% (previously 21% to 22%). Adjusted EBITDA of $1.17 billion to $1.20 billion (previously $1.1 billion to $1.15 billion). The Company's capital allocation priorities remain to invest in the core business; strengthen its balance sheet and progress towards its leverage target; and return cash to shareholders. Dividend Announcement During the second quarter, the Company paid $98 million in cash dividends to shareholders. The Board of Directors has declared a quarterly cash dividend of $0.70 per common share payable on September 3, 2025, to shareholders of record at the close of business on August 20, 2025. Conference Call Webcast Hasbro will webcast its second quarter 2025 earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast and access the accompanying presentation slides, please go to The replay of the call will be available on Hasbro's website approximately 2 hours following completion of the call. About Hasbro Hasbro is a leading games, IP and toy company whose mission is to create joy and community through the magic of play. With over 100 years of expertise, Hasbro delivers groundbreaking play experiences and reaches over 500 million kids, families and fans 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, a 2025 JUST Capital Industry Leader, one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50, and a Brand that Matters by Fast Company. For more information, visit or @Hasbro on LinkedIn. © 2025 Hasbro, Inc. All Rights Reserved. Forward Looking Statement Safe Harbor Certain statements in this press release contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be identified by the use of forward-looking words or phrases, include statements relating to our business strategies and plans; expectations relating to products, gaming and entertainment; anticipated impact of tariffs, including reciprocal and retaliatory tariffs; anticipated cost savings; and financial targets and guidance. Our actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Factors that might cause such a difference include, but are not limited to: our ability to successfully implement and execute on our Playing to Win business strategy; our ability to successfully compete in the play industry and further develop our digital gaming, licensing business and partnerships; risks associated with the imposition, threat or uncertainty of tariffs, including reciprocal or retaliatory tariffs, in markets in which we operate which could increase our product costs and other costs of doing business, result in higher prices of our products, impact consumer spending, lower our revenues, result in goodwill impairments, reduce earnings and otherwise have an adverse impact on our business; risks associated with international operations, such as: the imposition or threat of tariffs; conflict in territories in which we operate or which affect areas in which we operate; currency conversion; currency fluctuations; quotas; shipping delays or difficulties; border adjustment taxes or other protectionist measures; and other challenges in the territories in which we operate; risks related to political, economic and public health conditions or regulatory changes in the markets in which we and our customers, partners, licensees, suppliers and manufacturers operate, such as inflation, fluctuating interest rates, tariffs, higher commodity prices, labor strikes, labor costs or transportation costs, or outbreaks of illness or disease, the occurrence of which could create work slowdowns, delays or shortages in production or shipment of products, increases in costs, reduced purchasing power or less discretionary income, or losses and delays in revenue and earnings; uncertain and unpredictable global and regional economic conditions impacting one or more of the markets in which we sell products, which can negatively impact our customers and consumers, result in lower employment levels, consumer disposable income, retailer inventories and spending, including lower spending on purchases of our products; our ability to transform our business and capabilities to address the changing global consumer landscape, including evolving demographics for our products and advancements in emerging technologies, including the integration of artificial intelligence (AI) into our product development, marketing strategies, business operations and consumer engagement, and the associated risks such as ethical concerns, evolving regulatory standards, implementation challenges, and third-party dependencies; our ability to design, develop, manufacture, and ship products on a timely, cost-effective and profitable basis; the concentration of our customers, potentially increasing the negative impact to our business of difficulties experienced by any of our customers or changes in their purchasing or selling patterns; our dependence on third party relationships, including with third party partners, manufacturers, distributors, studios, content producers, licensors, licensees, and outsourcers, which creates reliance on others and loss of control; risks relating to the concentration of manufacturing for many of our products in the People's Republic of China, which include the risks associated with increased tariffs imposed by China and the U.S., and our ability to successfully diversify sourcing of our products to reduce reliance on sources of supply in China; the success of our key partner brands, including the ability to secure, maintain and extend agreements with our key partners or the risk of delays, increased costs or difficulties associated with any of our or our partners' planned digital applications or media initiatives; our ability to attract and retain talented and diverse employees, particularly following recent workforce reductions; our ability to realize the benefits of cost-savings and efficiency and/or revenue and operating profit enhancing initiatives; risks relating to the impairment and/or write-offs of businesses, products and content we acquire and/or produce; the risk that acquisitions, dispositions and other investments we complete may not provide us with the benefits we expect, or the realization of such benefits may be significantly delayed; our ability to protect our assets and intellectual property, including as a result of infringement, theft, misappropriation, cyber-attacks or other acts compromising the integrity of our assets or intellectual property; fluctuations in our business due to seasonality; the risk of product recalls or product liability suits and costs associated with product safety regulations; changes in accounting treatment, tax laws or regulations, or the interpretation and application of such laws and regulations, which may cause us to alter reserves or make other changes which significantly impact our reported financial results; the impact of litigation or arbitration decisions or settlement actions; the bankruptcy or other lack of success of one or more of our significant retailers, licensees and other partners; and other risks and uncertainties as may be detailed in our public announcements and U.S. Securities and Exchange Commission ('SEC') filings. The statements contained herein are based on our current beliefs and expectations. We undertake no obligation to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release. Non-GAAP Financial Measures The financial tables accompanying this press release include non-GAAP financial measures as defined under SEC rules, specifically Adjusted operating profit, Adjusted operating margin, Adjusted net earnings and Adjusted net earnings per diluted share, which exclude, 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. Also included in this press release are the non-GAAP financial measures of EBITDA and Adjusted EBITDA. EBITDA represents net earnings attributable to Hasbro, Inc. excluding interest expense, income tax expense, net earnings attributable to noncontrolling interests, depreciation and amortization of intangibles. Adjusted EBITDA also excludes strategic transformation initiatives, restructuring and severance costs, loss on disposal of business, eOne Film and TV business divestiture related costs, non-cash goodwill impairment charges, and the impact of stock compensation. As required by SEC rules, we have provided reconciliations on the attached schedules of these measures to the most directly comparable GAAP measure. Management believes that Adjusted net earnings, Adjusted net earnings per diluted share, Adjusted operating profit and Adjusted operating margin provide investors with an understanding of the underlying performance of our business absent unusual events. Management believes that EBITDA and Adjusted EBITDA are appropriate measures for evaluating the operating performance of our business because they reflect the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet and make strategic acquisitions. The Company is not able to reconcile its forward-looking non-GAAP adjusted operating margin and adjusted EBITDA measures because the Company cannot predict with certainty the timing and amounts of discrete items such as charges associated with its cost-savings program, which could impact GAAP results. Constant currency is also a non-GAAP financial measure. The impact of changes in foreign currency exchange rates used to translate the consolidated statements of operations is quantified by translating the current or future period revenues at the prior period exchange rates and comparing this amount to the prior period reported revenues. The Company believes that the presentation of the impact of changes in exchange rates, which are beyond the Company's control, is helpful to an investor's understanding of the performance of the underlying business. These non-GAAP measures 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. HAS-E (Tables Attached) HASBRO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (1) (Unaudited) (Millions of Dollars) June 29, 2025 June 30, 2024 ASSETS Cash and Cash Equivalents $ 546.9 $ 626.8 Short-term Investments — 483.0 Accounts Receivable, Net 717.8 789.0 Inventories 417.1 357.6 Prepaid Expenses and Other Current Assets 359.4 418.0 Total Current Assets 2,041.2 2,674.4 Property, Plant and Equipment, Net 251.8 340.4 Goodwill 1,256.8 2,278.8 Other Intangible Assets, Net 489.4 552.8 Other Assets 1,135.2 1,017.7 Total Assets $ 5,174.4 $ 6,864.1 LIABILITIES, NONCONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY Current Portion of Long-Term Debt — 500.0 Accounts Payable 339.6 297.5 Accrued Liabilities 888.2 1,032.6 Total Current Liabilities 1,227.8 1,830.1 Long-Term Debt 3,320.9 3,461.4 Other Liabilities 356.0 399.7 Total Liabilities 4,904.7 5,691.2 Total Shareholders' Equity 269.7 1,172.9 Total Liabilities, Noncontrolling Interests and Shareholders' Equity $ 5,174.4 $ 6,864.1 (1) Amounts may not sum due to rounding Expand HASBRO, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (1) (Unaudited) (Millions of Dollars and Shares Except Per Share Data) Three Months Ended Six Months Ended June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Amount % of Net Revenues Amount % of Net Revenues Amount % of Net Revenues Amount % of Net Revenues Net revenues $ 980.8 100.0 % $ 995.3 100.0 % $ 1,867.9 100.0 % $ 1,752.6 100.0 % Costs and expenses: Cost of sales 225.3 23.0 % 237.7 23.9 % 429.8 23.0 % 441.9 25.2 % Program cost amortization 6.2 0.6 % 8.5 0.9 % 13.6 0.7 % 16.6 0.9 % Royalties 84.5 8.6 % 55.3 5.6 % 141.5 7.6 % 106.2 6.1 % Product development 77.5 7.9 % 70.4 7.1 % 158.0 8.5 % 135.9 7.8 % Advertising 63.6 6.5 % 60.4 6.1 % 119.0 6.4 % 111.9 6.4 % Amortization of intangible assets 17.2 1.8 % 17.1 1.7 % 34.2 1.8 % 34.1 1.9 % Impairment of goodwill 1,021.9 104.2 % — — % 1,021.9 54.7 % — — % Loss on disposal of business — — % 15.3 1.5 % 25.0 1.3 % 24.4 1.4 % Selling, distribution and administration 282.8 28.8 % 318.5 32.0 % 552.4 29.6 % 553.3 31.6 % Total costs and expenses 1,779.0 181.4 % 783.2 78.7 % 2,495.4 133.6 % 1,424.3 81.3 % Operating profit (loss) (798.2 ) (81.4 )% 212.1 21.3 % (627.5 ) (33.6 )% 328.3 18.7 % Non-operating expense (income): — % Interest expense 40.6 4.1 % 43.0 4.3 % 82.2 4.4 % 81.5 4.7 % Interest income (5.4 ) (0.6 )% (13.0 ) (1.3 )% (14.3 ) (0.8 )% (21.3 ) (1.2 )% Other (income) expense, net (18.7 ) (1.9 )% (0.8 ) (0.1 )% (17.3 ) (0.9 )% 4.2 0.2 % Total non-operating expense, net 16.5 1.7 % 29.2 2.9 % 50.6 2.7 % 64.4 3.7 % Earnings (loss) before income taxes (814.7 ) (83.1 )% 182.9 18.4 % (678.1 ) (36.3 )% 263.9 15.1 % Income tax expense 40.0 4.1 % 44.4 4.5 % 77.1 4.1 % 66.3 3.8 % Net earnings (loss) (854.7 ) (87.1 )% 138.5 13.9 % (755.2 ) (40.4 )% 197.6 11.3 % Net earnings attributable to noncontrolling interests 1.1 0.1 % — — % 2.0 0.1 % 0.9 0.1 % Net earnings (loss) attributable to Hasbro, Inc. $ (855.8 ) (87.3 )% $ 138.5 13.9 % $ (757.2 ) (40.5 )% $ 196.7 11.2 % Net earnings (loss) per common share: Basic $ (6.10 ) $ 0.99 $ (5.41 ) $ 1.41 Diluted $ (6.10 ) $ 0.99 $ (5.41 ) $ 1.41 Cash dividends declared per common share $ 0.70 $ — $ 1.40 $ 0.70 Weighted Average Number of Shares Basic 140.3 139.5 140.0 139.2 Diluted 140.3 140.0 140.0 139.6 (1) Amounts may not sum due to rounding Expand HASBRO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (1) (Unaudited) (Millions of Dollars) Six months ended June 29, 2025 June 30, 2024 Cash Flows from Operating Activities: Net Earnings $ (755.2 ) $ 197.6 Impairment of Goodwill 1,021.9 — Loss on Disposal of Business 25.0 24.4 Other Non-Cash Adjustments 106.3 126.8 Changes in Operating Assets and Liabilities (188.6 ) 16.3 Net Cash Provided by Operating Activities 209.4 365.1 Cash Flows from Investing Activities: Additions to Property, Plant and Equipment (29.9 ) (49.5 ) Additions to Software Development (61.8 ) (48.2 ) Purchase of investments (10.0 ) (480.1 ) Other 12.5 2.4 Net Cash Utilized by Investing Activities (89.2 ) (575.4 ) Cash Flows from Financing Activities: Proceeds from Long-Term Debt — 498.6 Repayments of Borrowings (60.5 ) — Dividends Paid (196.0 ) (194.6 ) Payments Related to Tax Withholding for Share-Based Compensation (19.9 ) (11.9 ) Stock-Based Compensation Transactions 4.9 4.0 Payments of financing costs — (5.3 ) Other (3.1 ) (2.3 ) Net Cash Provided (Utilized) by Financing Activities (274.6 ) 288.5 Effect of Exchange Rate Changes on Cash 6.3 3.2 Net Increase (Decrease) in Cash and Cash Equivalents (148.1 ) 81.4 Cash and Cash Equivalents at Beginning of Year 695.0 545.4 Cash and Cash Equivalents at End of Period $ 546.9 $ 626.8 (1) Amounts may not sum due to rounding Expand HASBRO, INC. SEGMENT RESULTS - AS REPORTED AND AS ADJUSTED (1) (Unaudited) (Millions of Dollars) Three Months Ended June 29, 2025 Three Months Ended June 30, 2024 Operating Results As Reported Non-GAAP Adjustments Adjusted As Reported Non-GAAP Adjustments Adjusted % Change Total Company Results External Net Revenues $ 980.8 $ — $ 980.8 $ 995.3 $ — $ 995.3 -1 % Operating Profit (Loss) (798.2 ) 1,045.3 247.1 212.1 36.7 248.8 -1 % Operating Margin -81.4 % >100 % 25.2 % 21.3 % 3.7 % 25.0 % Segment Results Wizards of the Coast and Digital Gaming: External Net Revenues $ 522.4 $ — $ 522.4 $ 452.0 $ — $ 452.0 16 % Operating Profit 241.8 — 241.8 247.1 — 247.1 -2 % Operating Margin 46.3 % — 46.3 % 54.7 % — 54.7 % Consumer Products: External Net Revenues $ 442.4 $ — $ 442.4 $ 524.5 $ — $ 524.5 -16 % Operating Profit (Loss) (1,029.6 ) 1,030.8 1.2 (9.3 ) 9.0 (0.3 ) >100 % Operating Margin >-100 % >100 % 0.3 % -1.8 % 1.7 % -0.1 % Entertainment: External Net Revenues $ 16.0 $ — $ 16.0 $ 18.8 $ — $ 18.8 -15 % Operating Profit (Loss) 6.3 3.8 10.1 (1.0 ) 18.7 17.7 -43 % Operating Margin 39.4 % 23.8 % 63.1 % -5.3 % 99.5 % 94.1 % Corporate and Other: Operating Profit (Loss) $ (16.7 ) $ 10.7 $ (6.0 ) $ (24.7 ) $ 9.0 $ (15.7 ) 62 % (1) Amounts may not sum due to rounding Expand Three Months Ended Wizards of the Coast and Digital Gaming Net Revenues by Category June 29, 2025 June 30, 2024 % Change Tabletop Gaming $ 406.3 $ 307.6 32 % Digital and Licensed Gaming 116.1 144.4 -20 % Net revenues $ 522.4 $ 452.0 Three Months Ended Consumer Products Segment Net Revenues by Major Geographic Region June 29, 2025 June 30, 2024 % Change North America $ 236.0 $ 306.1 -23 % Europe 95.7 92.0 4 % Asia Pacific 63.6 62.6 2 % Latin America 47.1 63.8 -26 % Net revenues $ 442.4 $ 524.5 Three Months Ended Entertainment Segment Net Revenues by Category June 29, 2025 June 30, 2024 % Change Film and TV $ 1.5 $ 1.8 -17 % Family Brands 14.5 17.0 -15 % Net revenues $ 16.0 $ 18.8 Three Months Ended Supplementary Hasbro Gaming Information: June 29, 2025 June 30, 2024 % Change MAGIC: THE GATHERING $ 412.0 $ 336.0 23 % Hasbro Total Gaming (1) 615.8 548.4 12 % (1) Hasbro Total Gaming includes all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming. Expand Six Months Ended June 29, 2025 Six Months Ended June 30, 2024 Operating Results (1) As Reported Non-GAAP Adjustments Adjusted As Reported Non-GAAP Adjustments Adjusted % Change Total Company Results External Net Revenues $ 1,867.9 $ — $ 1,867.9 $ 1,752.6 $ — $ 1,752.6 7 % Operating Profit (Loss) (627.5 ) 1,097.1 469.6 328.3 69.1 397.4 18 % Operating Margin -33.6 % 58.7 % 25.1 % 18.7 % 3.9 % 22.7 % Segment Results Wizards of the Coast and Digital Gaming: External Net Revenues $ 984.5 $ — $ 984.5 $ 768.3 $ — $ 768.3 28 % Operating Profit 471.8 — 471.8 369.9 — 369.9 28 % Operating Margin 47.9 % — 47.9 % 48.1 % — 48.1 % Consumer Products: External Net Revenues $ 840.7 $ — $ 840.7 $ 937.5 $ — $ 937.5 -10 % Operating Profit (Loss) (1,073.5 ) 1,043.7 (29.8 ) (56.2 ) 18.1 (38.1 ) 22 % Operating Margin >-100 % >100 % -3.5 % -6.0 % 1.9 % -4.1 % Entertainment: External Net Revenues $ 42.7 $ — $ 42.7 $ 46.8 $ — $ 46.8 -9 % Operating Profit (Loss) (4.9 ) 32.4 27.5 4.8 31.1 35.9 -23 % Operating Margin -11.5 % 75.9 % 64.4 % 10.3 % 66.5 % 76.7 % Corporate and Other: Operating Profit (Loss) $ (20.9 ) $ 21.0 $ 0.1 $ 9.8 $ 19.9 $ 29.7 -100 % (1) Amounts may not sum due to rounding Expand Six Months Ended Wizards of the Coast and Digital Gaming Net Revenues by Category June 29, 2025 June 30, 2024 % Change Tabletop Gaming $ 750.1 $ 535.8 40 % Digital and Licensed Gaming 234.4 232.5 1 % Net revenues $ 984.5 $ 768.3 Six Months Ended Consumer Products Segment Net Revenues by Major Geographic Region June 29, 2025 June 30, 2024 % Change North America $ 467.4 $ 545.2 -14 % Europe 180.7 179.5 1 % Asia Pacific 117.4 111.4 5 % Latin America 75.2 101.4 -26 % Net revenues $ 840.7 $ 937.5 Six Months Ended Entertainment Segment Net Revenues by Category June 29, 2025 June 30, 2024 % Change Film and TV $ 5.8 $ 1.8 >100 % Family Brands 36.9 45.0 -18 % Net revenues $ 42.7 $ 46.8 Six Months Ended Supplementary Hasbro Gaming Information: June 29, 2025 June 30, 2024 % Change MAGIC: THE GATHERING $ 758.3 $ 573.9 32 % Hasbro Total Gaming (1) 1,165.9 956.4 22 % (1) Hasbro Total Gaming includes all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars) Three Months Ended Six Months Ended Reconciliation of EBITDA and Adjusted EBITDA (1) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Net Earnings (Loss) Attributable to Hasbro, Inc. $ (855.8 ) $ 138.5 $ (757.2 ) $ 196.7 Interest expense 40.6 43.0 82.2 81.5 Income tax expense 40.0 44.4 77.1 66.3 Net earnings attributable to noncontrolling interests 1.1 — 2.0 0.9 Depreciation expense 14.9 28.4 32.1 49.6 Amortization of intangibles 17.2 17.1 34.2 34.1 EBITDA $ (742.0 ) $ 271.4 $ (529.6 ) $ 429.1 Stock compensation 11.3 17.8 29.7 12.8 Strategic transformation initiatives (2) 3.9 7.3 11.1 12.5 Restructuring and severance costs (3) 6.8 1.7 12.7 7.4 Loss on disposal of business (4) — 15.3 25.0 24.4 eOne Film and TV business divestiture related costs (5) 0.1 — 5.6 — Impairment of goodwill (6) 1,021.9 — 1,021.9 — Adjusted EBITDA $ 302.0 $ 313.5 $ 576.4 $ 486.2 (1) Amounts may not sum due to rounding (2) 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. (3) Restructuring and severance associated with cost-savings initiatives across the Company. (4) Loss on disposal of a business related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (5) eOne Film and TV business divestiture related costs as a result of the sale of the eOne Film and TV business and certain retained liabilities. (6) During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars) Three Months Ended Six Months Ended Reconciliation of Adjusted Operating Profit (1) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Operating Profit (Loss) $ (798.2 ) $ 212.1 $ (627.5 ) $ 328.3 Wizards of the Coast and Digital Gaming 241.8 247.1 471.8 369.9 Consumer Products (1,029.6 ) (9.3 ) (1,073.5 ) (56.2 ) Entertainment 6.3 (1.0 ) (4.9 ) 4.8 Corporate and Other (16.7 ) (24.7 ) (20.9 ) 9.8 Non-GAAP Adjustments $ 1,045.3 $ 36.7 $ 1,097.1 $ 69.1 Consumer Products 1,030.8 9.0 1,043.7 18.1 Entertainment 3.8 18.7 32.4 31.1 Corporate and Other 10.7 9.0 21.0 19.9 Adjusted Operating Profit (Loss) $ 247.1 $ 248.8 $ 469.6 $ 397.4 Wizards of the Coast and Digital Gaming 241.8 247.1 471.8 369.9 Consumer Products 1.2 (0.3 ) (29.8 ) (38.1 ) Entertainment 10.1 17.7 27.5 35.9 Corporate and Other (6.0 ) (15.7 ) 0.1 29.7 Non-GAAP Adjustments include the following: Acquired intangible amortization (2) 12.6 12.4 25.0 24.8 Strategic transformation initiatives (3) 3.9 7.3 11.1 12.5 Restructuring and severance costs (4) 6.8 1.7 12.7 7.4 Loss on disposal of business (5) — 15.3 25.0 24.4 eOne Film and TV business divestiture related costs (6) 0.1 — 1.4 — Impairment of goodwill (7) 1,021.9 — 1,021.9 — Total $ 1,045.3 $ 36.7 $ 1,097.1 $ 69.1 (1) Amounts may not sum due to rounding (2) Represents intangible amortization costs related to the intangible assets acquired in the eOne acquisition. The Company has allocated certain of these intangible amortization costs between the Consumer Products and Entertainment segments, to match the revenue generated from such intangible assets. While amortization of acquired intangibles is being excluded from the related GAAP financial measure, the revenue of the acquired company is reflected within the Company's operating results to which these assets contribute. (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. (5) Loss on disposal of a business related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (6) eOne Film and TV business divestiture related costs as a result of the sale of the eOne Film and TV business and certain retained liabilities. (7)During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars and Shares, Except Per Share Data) Reconciliation of Net Earnings and Earnings per Share (1) Three Months Ended June 29, 2025 Diluted Per Share Amount June 30, 2024 Diluted Per Share Amount Net Earnings (Loss) Attributable to Hasbro $ (855.8 ) $ (6.10 ) $ 138.5 $ 0.99 Acquired intangible amortization (2) 9.4 0.07 9.3 0.07 Strategic transformation initiatives (3) 3.0 0.02 5.7 0.04 Restructuring and severance costs (4) 5.3 0.04 1.3 0.01 Loss on disposal of business (5) — — 15.3 0.11 eOne Film and TV divestiture related costs (6) 0.1 — — — Impairment of goodwill (7) 1,021.9 7.24 — — Net Earnings Attributable to Hasbro as Adjusted $ 183.9 $ 1.30 $ 170.1 $ 1.22 Six Months Ended June 29, 2025 Diluted Per Share Amount June 30, 2024 Diluted Per Share Amount Net Earnings (Loss) Attributable to Hasbro $ (757.2 ) $ (5.41 ) $ 196.7 $ 1.41 Acquired Intangible Amortization (2) 18.7 0.13 18.6 0.13 Strategic transformation initiatives (3) 8.5 0.06 9.6 0.07 Restructuring and severance costs (4) 9.8 0.07 5.7 0.04 Loss on disposal of business (5) 25.0 0.18 24.4 0.18 eOne Film and TV business sale process charges (6) 4.2 0.03 — — Impairment of goodwill (7) 1,021.9 7.24 — — Net Earnings Attributable to Hasbro as Adjusted $ 330.9 $ 2.35 $ 255.0 $ 1.83 (1) Amounts may not sum due to rounding (2) Represents intangible amortization costs related to the intangible assets acquired in the eOne acquisition. The Company has allocated certain of these intangible amortization costs between the Consumer Products and Entertainment segments, to match the revenue generated from such intangible assets. While amortization of acquired intangibles is being excluded from the related GAAP financial measure, the revenue of the acquired company is reflected within the Company's operating results to which these assets contribute. (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. These costs primarily consist of third party consulting of $3.9 ($3.0 after-tax) and $11.1 ($8.5 after-tax) for the three months and six months ended June 29, 2025, respectively, and $7.3 ($5.7 after-tax) and $12.5 ($9.6 after-tax) for the three months and six months ended June 30, 2024, respectively. (4) Restructuring and severance costs $6.8 ($5.3 after-tax) and $12.7 ($9.8 after-tax) for the three months and six months ended June 29, 2025, respectively, and $1.7 ($1.3 after-tax) and $7.4 ($5.7 after-tax) for the three months and six months ended June 30, 2024, respectively, associated with cost-savings initiatives across the Company. (5) Loss on disposal of a business of $25.0 ($25.0 after-tax) for the six months ended June 29, 2025 and $15.3 ($15.3 after-tax) and $24.4 ($24.4) after-tax for the three months and six months ended June 30, 2024, respectively, related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (6) eOne Film and TV business divestiture related costs of $0.1 ($0.1 after-tax) and $5.6 ($4.2 after-tax) for three months and six months ended June 29, 2025, respectively, as a result of the sale of the eOne Film and TV business and certain retained liabilities. (7) During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand
Yahoo
6 days ago
- Automotive
- Yahoo
6 Kid's Toys To Stock Up on Now To Avoid Holiday Product Shortages
It may seem a bit early to be discussing holiday shopping, but if you're like many Americans, you've probably already started building your list — if not purchasing a few key items on sale already. With toy prices set to trend upward due to the ongoing tariff situation, as Hasbro CEO Chris Cocks recently hinted at, per CNN, it could be wise to think about buying the season's anticipated must-haves now before disappointment reigns in December. On top of the looming pressure of tariffs, some companies have toys that are so popular, they're flying off the shelves and selling out in minutes — leaving very little for other consumers. Be Aware: Check Out: Which toys should you consider buying now, both to save money and to avoid a potential out-of-stock sign greeting you on a retailer's store shelf? Barbie, Monster High and American Girl Dolls From Mattel With Mattel being the force behind the iconic Barbie doll (and other notable franchises and brand partnerships, including Disney Princess, American Girl and Monster High), it's a solid bet that these particular items will be in perennial high demand come the holiday season. Snag a Disney Princess Cinderella fashion doll, Monster High Wednesday Addams doll or American Girl doll before the dress-up lover in your household asks for something sold out when the time comes. Trending Now: Hot Wheels (Still Leading the Way) Hot Wheels has been a mainstay of the die-cast car world for generations, and its popularity has soared in recent years, according to Statista figures. And while younger kids will likely be more than happy with a few of the less expensive mainline vehicles in their plastic-and-cardboard enclosures, older kids (and so-called 'kidults,' or adult collectors) should keep their eyes peeled for an increasing lineup of limited edition or premium offerings. In particular, the Formula 1 Hot Wheels cars seem to be particularly popular right now, with social media platforms (notably, Reddit) abuzz with tales of scalpers taking advantage of high demand. Beware of secondary market sellers profiteering on Amazon, eBay and other platforms. Prices for mainline Hot Wheels toys range from $1 to $2, or $5 to $7 for 'premium' equivalents. Larger sets are priced accordingly. Buy now, or be prepared to hold your pedal to the metal in hopes of scoring a last-minute holiday deal. The Labubu Craze Continues If you haven't heard of Labubu by now, you likely haven't spent much time cruising TikTok (or toy-related news headlines, for that matter). Sold by retailer Pop Mart in the controversial blind box format, Labubu is an elf-like or gremlin-esque character with over 300 different variations in play. That means a lot of time and effort goes into collecting a large assortment. It's also the most popular toy of 2025 on a global scale, with The Minnesota Star-Tribune reporting that people are already standing in line for hours to score one. Other Toys To Buy Now Before the Holiday Rush While the above toys are top mentions when thinking of cost-cutting or simply planning ahead of shortages, the same could be said of the following options, as well. Magic: The Gathering Universes Beyond, Final Fantasy: From commander sets to booster packs, this collaboration between MTG and fan-favorite video game IP 'Final Fantasy' has been flying from shelves since its recent release. Expect a shortage of product continuing well into the winter. While 'Magic: The Gathering' skews older rather than younger, plenty of school-aged children enjoy this trading card game. Jellycat Plush Toys: Jellycat might not be strictly as popular as Labubu right now, but it targets a similar demographic and is stealing at least some of the thunder from the established Squishmallow brand. These plush toys are sure to be in dwindling supply as the year draws to a close. Licensed LEGO Sets: LEGO's enduring appeal to brick-lovers, young and old alike, means that as the holiday season approaches, the most desirable sets fly from warehouses and stores in short order. This year, be sure to be the early bird on Star Wars, Harry Potter, Marvel, Jurassic World, and Bluey crossovers so you aren't left with an unfinished wish list. More From GOBankingRates 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on 6 Kid's Toys To Stock Up on Now To Avoid Holiday Product Shortages
CNN
10-07-2025
- Entertainment
- CNN
Hasbro CEO says toy prices could rise by the fall
Hasbro CEO says toy prices could rise by the fall America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. 01:23 - Source: CNN Vertical Trending Now 16 videos Hasbro CEO says toy prices could rise by the fall America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. 01:23 - Source: CNN Moo Deng turns one The Khao Kheow Open Zoo in Thailand celebrated the first birthday of Moo Deng – a pygmy hippo who rose to fame last year after heartwarming and mischievous videos of her went viral. CNN spoke to Moo Deng fans who flew from around the world to celebrate her special day. 01:13 - Source: CNN Video: Bodycam footage shows Olympic gold medal gymnast arrested for DUI The City of Fairmont Police Department released bodycam videos showing iconic Olympic gold medal gymnast Mary Lou Retton struggling to take a field sobriety test during a May traffic stop in West Virginia. Retton was arrested and paid a fine after a court hearing, after which she released a statement apologizing. 02:27 - Source: CNN Robot soccer kicks off China's humanoid sports boom Less Messi, more messy – regardless, China is investing heavily in robot sports as a way of testing how much one can achieve. 01:30 - Source: CNN Video: Home washes away during floods in New Mexico At least three people, including two children, were killed in a mountain village in southern New Mexico, after monsoon rains triggered flash flooding on Tuesday, officials said. Video shows a home in Rio Ruidoso being washed away by what authorities described as 'record-breaking' floodwaters. Emergency crews carried out at least 85 swift water rescues in the Ruidoso area, including of people who were trapped in their homes and cars, said Danielle Silva of the New Mexico Department of Homeland Security and Emergency Management, according to the Associated Press. 00:22 - Source: CNN ISS astronauts talk rare all-female spacewalk Astronauts Nichole Ayers and Anne McClain speak to CNN's Wolf Blitzer from the International Space Station about their research, the success of their rare all-female spacewalk, and the future of space exploration. 01:48 - Source: CNN Disc-shaped UAP captured on video Journalist and UFO enthusiast Jeremy Corbell has released footage, reportedly captured by the US military in 2020, of a disc-shaped unidentified flying object. The Pentagon declined to answer CNN's questions on the validity of the video. 02:21 - Source: CNN Video shows river rises dramatically in New Mexico flooding At least three people, including two children, were killed in Village of Ruidoso in southern New Mexico, after monsoon rains triggered flash flooding on Tuesday, officials said. The Rio Ruidoso surged drastically from under 2 feet to over 20 feet in less than an hour. 00:36 - Source: CNN Scammers target parents of Texas flood victims CNN's Audie Cornish spoke with Senior Columnist for the Houston Chronicle Lisa Falkenberg who talks about how officials disclosed that some parents of the victims of the devastating floods in Texas are being targeted by scammers. 01:17 - Source: CNN Drone shows rare site: Greece's Acropolis with no tourists Authorities in Athens, Greece closed the country's most popular tourist destination for several hours on Tuesday, sighting scorching temperatures nearing 108˚ Fahrenheit (42˚C) as a health concern. Drone video by Reuters captured the rare instance of the site being empty of visitors. 00:41 - Source: CNN First man to kitesurf across the Taiwan Strait Swiss dentist and extreme sports enthusiast Geza Scholtz has become the first person ever to kitesurf across the politically sensitive Taiwan Strait. 01:16 - Source: CNN TSA to end shoes-off requirement at airport security checkpoints After nearly two decades, passengers going through airport security in the United States will no longer have to take their shoes off. The Transportation Security Administration will be phasing out the security requirement, a government source familiar with the matter confirmed to CNN on the condition of anonymity. 00:35 - Source: CNN New Barbie raising awareness about type 1 diabetes Mattel designed a new Barbie to represent those living with type 1 diabetes. CNN's Jacqueline Howard explains what makes this doll unique. 01:18 - Source: CNN Will AI replace human musicians? Recording Academy CEO weighs in Harvey Mason Jr., a music producer and CEO of the Recording Academy and GRAMMYs, explains why he's "optimistic but scared" about the impact of artificial intelligence technology on the music industry. Listen to his full interview on CNN's Terms of Service with Clare Duffy here. 02:02 - Source: CNN Sean 'Diddy' Combs' sentencing date announced Sean "Diddy" Combs will be sentenced in a hearing set to be held October 3, after he was found guilty on two counts of transportation to engage in prostitution. CNN's Elizabeth Wagmeister reports that Combs faces a max prison sentence of up to 20 years for both charges combined. 01:06 - Source: CNN Pet lion escapes and attacks woman and her children The owners of a pet lion that attacked three people after escaping from a farmhouse have been arrested. 00:34 - Source: CNN
Daily Mail
10-07-2025
- Business
- Daily Mail
Hasbro warns toy prices to spike amid Trump tariffs
The CEO of Hasbro has recently revealed that he expects toy prices will increase from August through October. Hasbro is one of the largest American toy production companies in the world, known for iconic brands like My Little Pony, Play Doh, Transformers, GI Joe, Candy Land, Scrabble, Nerf and Dungeons & Dragons. Chris Cocks has served as Hasbro's CEO since February 2022, and predicts the Trump administration's tariffs will eventually hit the industry. While Hasbro is yet to make any significant price hikes, its main international suppliers are based in China and Vietnam. The federal government slapped a 30 percent minimum tariff on China and under an agreement, Trump says the US will charge Vietnam a 20 percent tariff. Cocks believes it's only a matter of time before the levies make an impact. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' Cocks revealed on CNN's The Assignment podcast. He explained that the production timeline for toys typically takes three to five months. The market was rocked in April when Trump imposed a minimum 10 percent tariff on US imports. The stock market plummeted as a result , forcing the administration to issue a 90-day pause . The president has remained steadfast on applying pressure to manufacturers to make products in the US. Cocks told Cornish that although Hasbro has shifted it's supply to increase US-based production, it's easier said than done. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90 percent of the cost,' he explained. Cocks said transitioning production to the US would require paying workers more due to American labor requirements. This would mean that consumers would have to pay more for products. For example, a doll typically sold for $10 would increase to $18. The federal administration has stood by the tariffs, claiming that foreign countries should absorb the costs. The economic policy was initially in line with Trump's 'America First' mentality, attempting to alleviate the country's reliance on foreign products. Cocks said the reality was different, arguing, 'It's always a business working with another business that absorbs things.' Despite the tumultuous time for manufacturers, Cocks said since Hasbro relies on profits from it's gaming division, he's not too concerned about the company losing money due to the tariffs. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges,' he confessed. Toy companies like Mattel have also admitted to feeling the brunt of Trump's tariffs , with the manufacturer detailing a grim prediction in its 2024 financial report . 'Changes in the amount, scope and nature of the tariffs in the future... could increase Mattel's product costs and other costs of doing business,' the report stated. 'Other changes in laws or regulations in the United States and/or in other major markets, such as China, in which Mattel operates... may also increase Mattel's product costs and other costs of doing business and in each case reduce Mattel's earnings and liquidity.' Mattel manufactures almost half of its products in China and roughly another 10 percent in Mexico. China is responsible for a significant percentage of US imports, and currently has a 30 percent tariff from the Trump administration. The percentage has decreased significantly after Chinese products briefly faced tariffs as high as 145 percent. The future of trade negotiations remains uncertain as Trump pushed back the tariff pause to August 1.
Daily Mail
10-07-2025
- Business
- Daily Mail
Major toy manufacturer reveals when prices are set to climb after crippling tariffs
The CEO of Hasbro has recently revealed that he expects toy prices will increase from August through October. Hasbro is one of the largest American toy production companies in the world, known for iconic brands like My Little Pony, Play Doh, Transformers, GI Joe, Candy Land, Scrabble, Nerf and Dungeons & Dragons. Chris Cocks has served as Hasbro's CEO since February 2022, and predicts the Trump administration's tariffs will eventually hit the industry. While Hasbro is yet to make any significant price hikes, its main international suppliers are based in China and Vietnam. The federal government slapped a 30 percent minimum tariff on China and under an agreement, Trump says the US will charge Vietnam a 20 percent tariff. Cocks believes it's only a matter of time before the levies make an impact. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' Cocks revealed on CNN's The Assignment podcast. He explained that the production timeline for toys typically takes three to five months. The market was rocked in April when Trump imposed a minimum 10 percent tariff on US imports. The stock market plummeted as a result, forcing the administration to issue a 90-day pause. The president has remained steadfast on applying pressure to manufacturers to make products in the US. Cocks told Cornish that although Hasbro has shifted it's supply to increase US-based production, it's easier said than done. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90 percent of the cost,' he explained. Cocks said transitioning production to the US would require paying workers more due to American labor requirements. This would mean that consumers would have to pay more for products. For example, a doll typically sold for $10 would increase to $18. The federal administration has stood by the tariffs, claiming that foreign countries should absorb the costs. The economic policy was initially in line with Trump's 'America First' mentality, attempting to alleviate the country's reliance on foreign products. Cocks said the reality was different, arguing, 'It's always a business working with another business that absorbs things.' Despite the tumultuous time for manufacturers, Cocks said since Hasbro relies on profits from it's gaming division, he's not too concerned about the company losing money due to the tariffs. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges,' he confessed. Toy companies like Mattel have also admitted to feeling the brunt of Trump's tariffs, with the manufacturer detailing a grim prediction in its 2024 financial report. 'Changes in the amount, scope and nature of the tariffs in the future... could increase Mattel's product costs and other costs of doing business,' the report stated. 'Other changes in laws or regulations in the United States and/or in other major markets, such as China, in which Mattel operates... may also increase Mattel's product costs and other costs of doing business and in each case reduce Mattel's earnings and liquidity.' The Hasbro CEO added that manufacturing products in the US could mean increased labor costs (Pictured: Cocks with James B. Laster (right) at the 91st anniversary of the Hollywood Christmas Parade in 2023) Mattel manufactures almost half of its products in China and roughly another 10 percent in Mexico. China is responsible for a significant percentage of US imports, and currently has a 30 percent tariff from the Trump administration. The percentage has decreased significantly after Chinese products briefly faced tariffs as high as 145 percent.
