Skip to main content

Market Overview

Hasbro Shares Fall On Q3 Earnings, Sales Miss

Share:
Hasbro Shares Fall On Q3 Earnings, Sales Miss

Hasbro, Inc. (NASDAQ: HAS) reported third-quarter earnings of $1.84 per share on Tuesday, missing the consensus estimate of $2.21 by 16.74%. 

The toymaker posted quarterly sales of $1.58 billion, missing the consensus estimate of $1.72 billion by 8.14%.

During the third quarter, Hasbro entered into a definitive agreement to acquire Entertainment One Ltd, or eOne, in an all-cash transaction valued at approximately 3.3 billion pounds ($4.2 billion). 

As a result of hedging part of the British pound purchase price of eOne, Hasbro said it recognized an after-tax foreign exchange loss of $20.9 million, or 16 cents per diluted share.

"We are pleased with the progress toward completing our acquisition of eOne, including last week's overwhelming approval by eOne shareholders. We expect to close the transaction during the fourth quarter," Hasbro CEO Brian Goldner said in a statement. 

Hasbro shares were down 10.12% at $108 at the time of publication. The stock has a 52-week high of $126.87 and a 52-week low of $76.84. 

Related Links:

Hasbro Reports Q2 Earnings Beat

Mattel Moving On M&A Reports

 

Related Articles (HAS)

View Comments and Join the Discussion!

Posted-In: ToysEarnings News Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com