Here’s What to Expect From Hasbro’s Q2 Earnings Call
Key takeaways
- Hasbro is set to report its Q2 earnings this week
- Last quarter, Hasbro beat earnings per share and revenue forecasts, but was still down 14% from the year before
- Hasbro’s Transformers movie hasn’t had the same impact to the stock price as Mattel’s Barbie success
It’s earnings season, and one report investors are waiting on is Hasbro. With its rival Mattel shining bright thanks to the Barbie movie’s success, Wall Street is looking for a solid beat from Hasbro, which already has cinema franchises under its belt. Let’s take a look at what analysts think Hasbro will report.
Earnings season can shake up individual company stocks, but you don’t need to hover over them with AI on your side. Q.ai’s Foundation Kits are snazzy investment assortments themed on various topics, such as tech and global trends. Packed with a mix of assets, they help you stay a step ahead without the fuss.
Download Q.ai today for access to AI-powered investment strategies.
What are the predictions for Hasbro’s earnings?
Analysts predict Hasbro will report $1.1 billion in revenue for the second quarter, which would be a 17% fall from last year. The earnings per share estimate is 57 cents compared to $1.15 for the same time in 2022.
The economic uncertainty has already bitten Hasbro. At the start of the year, the toymaker announced it was axing 15% of its workforce to cut costs. Those efforts paid off as it beat expectations on profit and revenue for the first quarter, giving investors hope for the upcoming earnings report.
For Q1, Hasbro recorded 1 cent a share based on $1 billion revenue, which surpassed expectations of a loss of 1 cent per share on revenue of $877.1 million. The revenue figure marked a 14% decline year-over-year.
Hasbro’s stock performance in 2023
It’s been a mixed year for retailers, but a silver lining has been cinema franchises. Hasbro got into licensing its intellectual property for movies way before Mattel did — it owns the rights to Transformers and Dungeons & Dragons, which was a hit last summer. But with a new Transformers film out this year, Hasbro’s stock has only risen 4% on the Nasdaq.
In comparison, Mattel has had a significant release out this year — the Barbie film, which smashed a box office record for the biggest opening weekend for a female director. Mattel’s share price has soared 19.4% since the start of 2023.
The bottom line
This week’s earnings beat could bring feast or famine to the share price as investors look for signs of strain. With the U.S. economy slowly recovering from high inflation and consumer spending returning, Hasbro might not need to wait long to see sales increase.
Hasbro might be heading up or down this week, which is a reminder that trying to time the market is never a winner. Keep things simple with Q.ai’s Foundation Kits, which are snazzy investment assortments themed on various topics, such as tech and global trends. Packed with a mix of assets, they help you stay a step ahead while staying stress-free.
Download Q.ai today for access to AI-powered investment strategies.
