Stock Monitor: JAKKS Pacific Post Earnings Reporting
LONDON, UK / ACCESSWIRE / July 30, 2018 /
If you want access to our free earnings report on Hasbro, Inc. (NASDAQ: HAS), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HAS. The Company reported its second quarter fiscal 2018 operating and financial results on July 23, 2018. The toy Company's revenues and earnings declined on a y-o-y basis, primarily impacted by the liquidation of Toys“R”Us. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the second quarter of the fiscal year 2018, Hasbro's net revenues decreased 7% to $904.5 million versus $972.5 million in Q2 2017. The Company's lower revenues in the reported quarter reflected the liquidation of Toys“R”Us in the US and many other global markets. Additionally, the Company's revenues declined internationally, most notably in Europe, as a result of managing retail inventory amid a rapidly evolving retail landscape. Hasbro's revenue numbers beat analysts' estimates of $844.2 million.
For Q2 2018, Hasbro's net earnings were $60.3 million, or $0.48 per diluted share, compared to $67.7 million, or $0.53 per diluted share, in Q2 2017. The Company's earnings surpassed Wall Street's estimates of $0.29 per share.
During Q2 2018, Hasbro's US and Canada segment's net revenues decreased 7% to $459.3 million compared to $494.4 million in Q2 2017. The segment recorded an operating profit of $76.2 million, or 16.6% of net revenues, in the reported quarter compared to $81.6 million, or 16.5% of net revenues, in the prior year's same quarter. The segment's quarterly performance was negatively impacted by the loss of Toys“R”Us revenues and the near-term disruption of its stores' liquidation in the marketplace.
For Q2 2018, Hasbro's International segment's net revenues were $380.4 million, down 11% compared to $426.6 million in Q2 2017. The segment's revenues were negatively impacted by efforts to clear excess retail inventory in Europe, as well as the loss of Toys“R”Us revenues in many Europe and Asia/Pacific markets.
Hasbro's Europe segment's net revenues decreased 16% on a y-o-y basis; Latin America decreased 3%; and Asia/Pacific decreased 5% versus the year ago comparable period. The International segment reported an operating profit of $0.2 million in Q2 2018 compared to $16.9 million in Q2 2017. The decline in operating profit reflected lower revenues combined with fixed cost deleveraging.
During Q2 2018, Hasbro's Entertainment and Licensing segment's net revenues increased 26% to $64.7 million compared to $51.5 million in Q2 2017. The segment's operating profit soared 64% to $18.6 million, or 28.8% of net revenues, in the reported quarter compared to $11.3 million, or 22.0% of net revenues, in the year ago corresponding quarter. The adoption of ASC 606, ‘Revenue from Contracts with Customers', favorably impacted the timing of revenue recognition in the reported quarter.
For Q2 2018, Hasbro's Partner Brand revenues declined 10% to $208.0 million on a y-o-y basis. Revenue growth in BEYBLADE and MARVEL was more than offset by declines in other Partner Brands. The Company's Gaming revenues increased slightly to $134.3 million. Hasbro's total gaming category rose 14% to $312.8 million.
Hasbro's Emerging Brand revenues declined 1% to $55.6 million on a y-o-y basis. The category benefited from several new initiatives, including LOST KITTIES and LOCK STARS, which was offset by declines in other Emerging Brands.
Dividend and Share Repurchase
Hasbro's next quarterly cash dividend payment of $0.63 per common share is scheduled for August 15, 2018, to shareholders of record at the close of business as on August 01, 2018.
During Q2 2018, Hasbro repurchased 820,343 shares of its common stock at a total cost of $74.1 million and an average price of $90.33 per share. Through H1 2018, the Company repurchased 1.2 million shares of its common stock at a total cost of $112.9 million, and an average price of $90.50. At the end of the quarter, Hasbro's $565.1 million remained available in the current share repurchase authorizations, including the additional $500 million authorized by the Board of Directors in Q2 2018.
Stock Performance Snapshot
July 27, 2018 - At Friday's closing bell, Hasbro's stock marginally advanced 0.45%, ending the trading session at $101.31.
Volume traded for the day: 1.53 million shares, which was above the 3-month average volume of 1.30 million shares.
Stock performance in the last month – up 11.40%; previous three-month period – up 15.97%; past six-month period – up 8.48%; and year-to-date – up 11.46%
After last Friday's close, Hasbro's market cap was at $13.02 billion.
Price to Earnings (P/E) ratio was at 15.66.
The stock has a dividend yield of 2.49%.
The stock is part of the Consumer Goods sector, categorized under the Toys & Games industry.
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