Overview

• Games and toy maker's Q2 revenue rose 16% and beat analyst expectations

• Adjusted EPS for Q2 was $1.28, up year-over-year

• Company raised full-year 2026 revenue and margin outlook

Outlook

• Hasbro raises 2026 revenue growth outlook to 5-7% in constant currency, from 3-5%

• Company lifts 2026 adjusted operating margin forecast to 25-26%, from 24-25%

• Hasbro expects 2026 adjusted EBITDA of $1.45 bln to $1.50 bln, up from $1.40 bln to $1.45 bln

Result Drivers

• MAGIC: THE GATHERING - Record revenue from Magic: The Gathering, led by the debut of Marvel Super Heroes and strong performance of Secrets of Strixhaven, fueled segment growth

• CONSUMER PRODUCTS GROWTH - Consumer Products revenue rose 5%, supported by entertainment releases such as Star Wars: The Mandalorian and Grogu, and momentum in GEM categories, despite disruption from unauthorized network access

• ENTERTAINMENT DECLINE - Entertainment segment revenue fell 20% due to the nature and timing of deals

Company press release: ID:nBwQfVbsa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Beat	$1.14 bln	$1.07 bln (10 Analysts)
Q2 Net Income		$161.30 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the toys & children's products peer group is "buy"

• Wall Street's median 12-month price target for Hasbro Inc is $110.00, about 34.8% above its July 20 closing price of $81.59

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads

• July 21 - Sweden's MTG Q2 adjusted EBITDA tops estimates on casual games scaling

• July 20 - AMC posts surprise profit as summer blockbusters boost US box office

• July 20 - Mattress company Sleep Number sells assets for $700 million in bankruptcy

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