Hasbro said net revenues for Q1 2024 declined 24% to $757.3 million from $1,001.0 million a year earlier, and operating profit rose to $116.2 million from $17.9 million. The company cited the sale of the eOne Film and TV business and broader industry trends as factors behind the revenue decline.

10-QQuarterly reportFiled May 1, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Hasbro said net revenues for Q1 2024 declined 24% to $757.3 million from $1,001.0 million a year earlier, and operating profit rose to $116.2 million from $17.9 million. The company cited the sale of the eOne Film and TV business and broader industry trends as factors behind the revenue decline.
Hasbro said Entertainment segment net revenues for Q1 2024 fell 85%, a decline of $28.0 million, and Consumer Products segment net revenues fell 21%, a decline of $413.0 million. Wizards of the Coast and Digital Gaming segment net revenues rose 7% to $316.3 million.
The company said Selling, distribution and administration expenses for Q1 2024 decreased to $234.8 million from $317.1 million a year earlier. It said the decrease reflects savings from the Operational Excellence Program and a non-recurring stock-compensation adjustment of $18.1 million.
In the first 3 months of 2024, Hasbro said net cash provided by operating activities was $177.8 million, up from $88.8 million a year earlier, and cash and cash equivalents totaled $570.2 million as of March 31, 2024. The company said it paid dividends of $97.2 million over the same 3 months.

Key figures

Quarter ended March 31, 2024

Revenue: $757M
Operating income: $116M
Net income: $58M
EPS: $0.42
Operating cash flow: $178M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 Net Revenues Down 24%, Operating Profit at $116.2 million

Hasbro said net revenues for Q1 2024 declined 24% to $757.3 million from $1,001.0 million a year earlier, and operating profit rose to $116.2 million from $17.9 million. The company cited the sale of the eOne Film and TV business and broader industry trends as factors behind the revenue decline.

Source · Based on the MD&A text of the filing

Segment Revenue: Entertainment Down 85%, Consumer Products Down 21%

Hasbro said Entertainment segment net revenues for Q1 2024 fell 85%, a decline of $28.0 million, and Consumer Products segment net revenues fell 21%, a decline of $413.0 million. Wizards of the Coast and Digital Gaming segment net revenues rose 7% to $316.3 million.

Source · Based on the MD&A text of the filing

Lower Costs and $18.1 million Non-Recurring Stock-Compensation Adjustment

The company said Selling, distribution and administration expenses for Q1 2024 decreased to $234.8 million from $317.1 million a year earlier. It said the decrease reflects savings from the Operational Excellence Program and a non-recurring stock-compensation adjustment of $18.1 million.

Source · Based on the MD&A text of the filing

2024 Three-Month Operating Cash Flow and Cash Balance as of March 31

In the first 3 months of 2024, Hasbro said net cash provided by operating activities was $177.8 million, up from $88.8 million a year earlier, and cash and cash equivalents totaled $570.2 million as of March 31, 2024. The company said it paid dividends of $97.2 million over the same 3 months.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.