Play-Doh, Twister Maker Hasbro Thrives: Q2 Profits Soar Despite Entertainment Slump
Play-Doh, Twister Maker Hasbro Thrives: Q2 Profits Soar Despite Entertainment Slump
Hasbro Inc. (NASDAQ:HAS) shares are surging after the toy maker reported better-than-expected second-quarter FY24 earnings and revised the outlook.
孩之宝公司（纳斯达克股票代码：HAS）股价飙升，此前这家玩具制造商公布的24财年第二季度收益好于预期并修订了前景。
The company reported a second-quarter FY24 sales decline of 18% year-on-year to $995.30 million, beating the analyst consensus estimate of $943.56 million.
该公司报告称，24财年第二季度销售额同比下降18％，至9.9530亿美元，超过了分析师共识估计的9.4356亿美元。
The revenue decline was driven primarily by the eOne film divestiture; excluding the divestiture, revenue declined by 6%.
收入下降主要是由eOne电影资产剥离推动的；不包括剥离，收入下降了6％。
Segment Revenue: Consumer Products declined 20%, Wizards of the Coast and Digital Gaming increased 20%. Entertainment segment revenues plunged 90%, impacted by the sale of eOne Film and TV in December 2023; absent this impact, revenue declined 30%.
分部收入：消费品下降了20％，《海岸奇才》和数字游戏增长了20％。受2023年12月出售eOne影视的影响，娱乐板块收入下降了90％；如果没有这种影响，收入下降了30％。
Selling, distribution, and administration costs fell 16.3%. The operating margin expanded Y/Y from (15.6)% to 21.3%, and operating income for the quarter was $212 million compared to $188.6 million loss last year.
销售、分销和管理成本下降了16.3％。营业利润率同比增长从（15.6％）增至21.3％，该季度的营业收入为2.12亿美元，而去年的亏损为1.886亿美元。
Adjusted EBITDA for the quarter jumped 57.8% to $313.5 million. Adjusted EPS of $1.22 beat the analyst consensus of $0.78.
本季度调整后的息税折旧摊销前利润增长了57.8％，至3.135亿美元。调整后的每股收益为1.22美元，超过了分析师共识的0.78美元。
The company held $626.8 million in cash and equivalents as of June end. The operating cash flow for six months totaled $365.1 million.
截至6月底，该公司持有6.268亿美元的现金及等价物。六个月的运营现金流总额为3.651亿美元。
Hasbro owned inventory down 51% versus prior year, including a 55% decline in Consumer Products inventory versus the second quarter 2023.
孩之宝自有库存与去年同期相比下降了51％，其中包括消费品库存与2023年第二季度相比下降了55％。
"We delivered a solid performance in games and digital licensing and substantial margin improvement this quarter," said CEO Chris Cocks.
首席执行官克里斯·考克斯说：“本季度我们在游戏和数字许可方面表现稳健，利润率大幅提高。”
"Hasbro is emerging as a more profitable, agile, and operationally excellent company delighting fans of all ages through the magic of play."
“孩之宝正在崛起为一家利润更高、更敏捷且运营卓越的公司，通过游戏的魔力取悦所有年龄段的粉丝。”
The company's quarterly cash dividend of $0.70 per common share, payable on September 4, to shareholders of record at the close of business on August 21.
该公司的季度现金股息为每股普通股0.70美元，将于9月4日支付给8月21日营业结束时的登记股东。
Outlook: Hasbro revised its FY24 Consumer Products Segment revenue outlook from down 7% – 12% to down 7% – 11%.
展望：孩之宝将其24财年消费品板块收入展望从下降7％至12％下调至下降7％至11％。
The company raised FY24 adjusted EBITDA guidance from $925 million – $1 billion to $975 million – $1.025 billion. Hasbro targets gross savings of $750 million by 2025-end.
该公司将24财年调整后的息税折旧摊销前利润预期从9.25亿美元至10亿美元上调至9.75亿美元至10.25亿美元。孩之宝的目标是到2025年底总共节省7.5亿美元。
Price Action: HAS shares are trading higher by 6% at $63.00 in premarket at the last check Thursday.
价格走势：在周四的最后一次盘前检查中，HAS股价上涨6％，至63.00美元。
Photo via Shutterstock
照片来自 Shutterstock