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Hasbro (HAS) Gears Up for Q2 Earnings: What's in Store?
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Hasbro, Inc. (HAS - Free Report) is likely to report earnings decline while reporting second-quarter fiscal 2023 results. In the last reported quarter, the company reported a negative earnings surprise of 75%.
How Are Estimates Placed?
The Zacks Consensus Estimate for earnings is pegged at 57 cents per share, indicating a decline of 50.4% from $1.15 reported in the year-ago quarter. For revenues, the consensus estimate is pegged at $1.11 billion, suggesting a decrease of 17.4% from the prior-year quarter’s figure.
Let’s delve deeper.
Factors to Note
Hasbro’s fiscal second-quarter results are likely to have negatively impacted by dismal performance of Partners Brands, Franchise Brands, Hasbro Gaming and Entertainment. The consensus mark for revenues for Partners Brands, Franchise Brands and Hasbro Gaming is pegged at $193 million, $664 million and $114 million, indicating declines of 11.9%, 13.4% and 9.5% year over year, respectively.
Further, inflationary pressures are likely to have hurt margins in the quarter to be reported. The company anticipates inflationary pressures to persist for the majority of 2023. Expenses with respect to freight, product costs, sales allowances, and various toys and gaming products closeouts are likely to have hurt the bottom line.
However, the company is likely to have benefited from solid growth in its e-com revenues and increased focus on eOne Content. HAS is also likely to have gained from robust growth in emerging markets.
Our proven model predicts an earnings beat for Hasbro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hasbro has an Earnings ESP of +16.67% and a Zacks Rank #3.
Other Stocks to Consider
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat this time around.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +38.00% and a Zacks Rank #3.
Shares of MGM Resorts have increased 63.6% in the past year. MGM’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 81%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +13.44% and a Zacks Rank #3.
Shares of Penn National have declined 10.7% in the past three months. PENN’s earnings beat estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 15%.
Shares of Norwegian Cruise have increased 64.8% in the past year. NCLH’s earnings beat estimates in two of the trailing four quarters and missed twice, the average negative surprise being 4%.
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Hasbro (HAS) Gears Up for Q2 Earnings: What's in Store?
Hasbro, Inc. (HAS - Free Report) is likely to report earnings decline while reporting second-quarter fiscal 2023 results. In the last reported quarter, the company reported a negative earnings surprise of 75%.
How Are Estimates Placed?
The Zacks Consensus Estimate for earnings is pegged at 57 cents per share, indicating a decline of 50.4% from $1.15 reported in the year-ago quarter.
For revenues, the consensus estimate is pegged at $1.11 billion, suggesting a decrease of 17.4% from the prior-year quarter’s figure.
Let’s delve deeper.
Factors to Note
Hasbro’s fiscal second-quarter results are likely to have negatively impacted by dismal performance of Partners Brands, Franchise Brands, Hasbro Gaming and Entertainment. The consensus mark for revenues for Partners Brands, Franchise Brands and Hasbro Gaming is pegged at $193 million, $664 million and $114 million, indicating declines of 11.9%, 13.4% and 9.5% year over year, respectively.
Further, inflationary pressures are likely to have hurt margins in the quarter to be reported. The company anticipates inflationary pressures to persist for the majority of 2023. Expenses with respect to freight, product costs, sales allowances, and various toys and gaming products closeouts are likely to have hurt the bottom line.
However, the company is likely to have benefited from solid growth in its e-com revenues and increased focus on eOne Content. HAS is also likely to have gained from robust growth in emerging markets.
Hasbro, Inc. Price and EPS Surprise
Hasbro, Inc. price-eps-surprise | Hasbro, Inc. Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Hasbro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hasbro has an Earnings ESP of +16.67% and a Zacks Rank #3.
Other Stocks to Consider
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat this time around.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +38.00% and a Zacks Rank #3.
Shares of MGM Resorts have increased 63.6% in the past year. MGM’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 81%.
Penn National Gaming, Inc. (PENN - Free Report) has an Earnings ESP of +13.44% and a Zacks Rank #3.
Shares of Penn National have declined 10.7% in the past three months. PENN’s earnings beat estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 15%.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) has an Earnings ESP of +14.13% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Norwegian Cruise have increased 64.8% in the past year. NCLH’s earnings beat estimates in two of the trailing four quarters and missed twice, the average negative surprise being 4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.