The earnings call reflected strong performance and growth in the Wizards of the Coast segment and improved revenue and margin outlook for the year. However, challenges in the Consumer Products segment due to tariffs and market conditions, along with a significant goodwill impairment charge, present ongoing concerns.

Company Guidance

During the Hasbro Second Quarter 2025 Earnings Conference Call, the company provided updated guidance reflecting strong performance and revised expectations for the year. Hasbro reported net revenue of $981 million, with Wizards of the Coast and Digital Gaming leading growth, particularly through MAGIC: THE GATHERING, which saw a 23% increase year-over-year. The company raised its full-year guidance for revenue, margin, and adjusted EBITDA, now anticipating total revenue growth in the mid-single digits and adjusted operating margins of 22% to 23%. MAGIC is projected to grow revenue in the high 20% range, with operating margins between 42% and 43%. Consumer Products revenue is expected to decline by 5% to 8%, impacted by retailer order patterns and tariff-related costs, while Entertainment delivered $16 million in revenue. The company is on track for $175 million to $225 million in cost savings for the year and aims for $1.17 billion to $1.2 billion in adjusted EBITDA. The guidance reflects confidence in continued strong performance from MAGIC and cost transformation efforts, despite expected impacts from tariffs.

Wizards of the Coast Performance

Wizards of the Coast had a standout quarter with MAGIC: THE GATHERING growing 23% year-over-year in Q2 and 32% year-to-date. Final Fantasy became the biggest MAGIC set in history, and the Secret Lair business delivered its strongest sales quarter ever.

Licensing and Digital Segments

Continued strong performance in the licensing and digital segments with significant achievements like MONOPOLY GO! reaching impressive user and revenue milestones and new multiparty deals in casino gaming.

Revenue and Margin Growth

Net revenue was $981 million, adjusted operating profit was $247 million with a 25.2% margin, and adjusted EPS rose to $1.30, up 7% year-over-year.

Raised Full-Year Guidance

Hasbro raised its full-year guidance for revenue, margin, and adjusted EBITDA, expecting total revenue to grow mid-single digits with an adjusted operating margin of 22% to 23%.

Hasbro (HAS) Earnings, Revenues Date & History

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HAS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	1.61 / -	1.73	―	―	―
Jul 23, 2025	2025 (Q2)	0.78 / 1.30	1.22	6.56% (+0.08)
Apr 24, 2025	2025 (Q1)	0.67 / 1.04	0.61	70.49% (+0.43)
Feb 20, 2025	2024 (Q4)	0.34 / 0.46	0.38	21.05% (+0.08)
Oct 24, 2024	2024 (Q3)	1.29 / 1.73	1.64	5.49% (+0.09)
Jul 25, 2024	2024 (Q2)	0.78 / 1.22	0.49	148.98% (+0.73)
Apr 24, 2024	2024 (Q1)	0.27 / 0.61	0.01	6000.00% (+0.60)
Feb 13, 2024	2023 (Q4)	0.63 / 0.38	1.31	-70.99% (-0.93)
Oct 26, 2023	2023 (Q3)	1.72 / 1.64	1.42	15.49% (+0.22)
Aug 03, 2023	2023 (Q2)	0.56 / 0.49	1.15	-57.39% (-0.66)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HAS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$76.89	$76.17	-0.94%
Apr 24, 2025	$51.69	$59.23	+14.59%
Feb 20, 2025	$59.34	$67.03	+12.96%
Oct 24, 2024	$67.48	$63.43	-6.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.