Hasbro, the renowned toy maker, experienced a significant downturn in its stock value following a disappointing earnings report for the holiday quarter. The company's fourth-quarter earnings fell well below Wall Street expectations, with adjusted earnings per share (EPS) reported at $0.38 against an estimated $0.66 and sales reaching $1.29 billion versus the anticipated $1.36 billion. This downturn is attributed to a persistent weakness in the toy industry, which has been suffering from reduced consumer demand since the early days of the pandemic. Additionally, Hasbro cited the strikes by the Writers Guild of America (WGA) and actors as factors contributing to a 31% decline in its film and TV revenue in 2023. The company's stock plunged towards its worst day in four years, marking a 9.8% decrease in pre-market trading, amid a downbeat sales outlook.
Hasbro Sales Down 23% In Fourth Quarter; CEO Says Turnarounds Take Time https://t.co/wN0KTMpo34
Hasbro Stock Sinks After Q4 Earnings Miss; Company Blames WGA And Actors Strikes For 31% Film And TV Revenue Slide In 2023 https://t.co/YlDQC3GqSS
Hasbro shares fell after reporting fourth-quarter sales and earnings that missed Wall Street expectations as the toy industry continues to suffer from weak consumer demand after a boom in the early days of the pandemic. https://t.co/uFKhbMNZ4O
Hasbro stock plunges after revenue drop, downbeat outlook https://t.co/jyolOzOVYA
$HAS (-9.8% pre) Hasbro’s stock plunges after another profit miss, downbeat sales outlook - MW https://t.co/mFwgBSflC9
Hasbro Stock Slumps After Earnings Miss Estimates and Guidance Disappoints https://t.co/Pq3bRTKH8M
Hasbro stock plunges as toy maker's profit misses estimates https://t.co/PK7NEld3hK
Hasbro’s stock plunges toward worst day in four years after profit falls well below expectations https://t.co/gegXmrVNyZ
⚠️ MONOPOLY MAKER HASBRO MISSES QUARTERLY ESTIMATES ON SLUMPING TOY DEMAND (Reuters) Hasbro reported a steeper-than-expected drop in holiday-quarter sales and profit on Tuesday, as a persistent demand weakness in the toy industry weighed on sales of the company's digital and… https://t.co/gZZCFECHrj
$HAS | Hasbro Q4 Earnings: - Adj. EPS $0.38 (Est. $0.66) - Sales $1.29B (Est. $1.36B)