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Hasbro (HAS) to Report Q3 Earnings: What's in the Offing?
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Hasbro, Inc. (HAS - Free Report) is scheduled to report third-quarter fiscal 2023 results on Oct 26, 2023, before the opening bell. In the last reported quarter, the company reported a negative earnings surprise of 15.5%.
How are Estimates Placed?
The Zacks Consensus Estimate for earnings is pegged at $1.69 per share, indicating growth of 19% from $1.42 reported a year ago.
For revenues, the consensus estimate is pegged at $1.67 billion, suggesting a decline of 0.6% from the prior-year quarter’s figure.
Let’s delve deeper.
Factors to Note
Hasbro’s fiscal third-quarter results are likely to be benefited by new product launches and strategic partnerships. Backed by a global retail network and investments in new channels, Hasbro continues to witness solid growth in its e-commerce revenues.
Coming to unscripted live-action, the company has nearly 40 active productions for Canada, the United States and the United Kingdom. It expects feature films, such as Transformers: Rise of the Beasts and Dungeons & Dragons, to boost revenues and operating profits in 2023.
Robust growth of Portfolio Brands and Non-Hasbro Branded Film & TV are likely to have aided the top line. Our model predicts Portfolio Brands and Non-Hasbro Branded Film & TV revenues to grow 15.7% and 9.2% year over year to $241.7 million and $193.4 million, respectively. However, our model suggests Franchise Brands and Partner Brands revenues to decline 1.4% and 4.4% year over year to $926.8 million and $334.6, respectively.
On the other hand, a decline in cost of sales is likely to have aided the bottom line. Our model forecasts cost of sales to dip 6.6% year over year to $548 million.
Our proven model doesn’t conclusively predict 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 -3.14% and a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat.
Shares of MGM Resorts have improved 7.2% in the past year. MGM’s earnings surpassed the consensus mark in three of the four quarters and missed once, the average surprise being 105.7%.
Marriott International, Inc. (MAR - Free Report) has an Earnings ESP of +4.23% and a Zacks Rank #3.
Shares of Marriott have jumped 21.4% in the past year. MAR’s earnings outpaced the consensus mark in each of the trailing four quarters, the average surprise being 5.5%.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +5.35% and a Zacks Rank #2.
Shares of Hilton have climbed 13.2% in the past year. HLT’s earnings outshined the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 12.5%.
Image: Bigstock
Hasbro (HAS) to Report Q3 Earnings: What's in the Offing?
Hasbro, Inc. (HAS - Free Report) is scheduled to report third-quarter fiscal 2023 results on Oct 26, 2023, before the opening bell. In the last reported quarter, the company reported a negative earnings surprise of 15.5%.
How are Estimates Placed?
The Zacks Consensus Estimate for earnings is pegged at $1.69 per share, indicating growth of 19% from $1.42 reported a year ago.
For revenues, the consensus estimate is pegged at $1.67 billion, suggesting a decline of 0.6% from the prior-year quarter’s figure.
Let’s delve deeper.
Factors to Note
Hasbro’s fiscal third-quarter results are likely to be benefited by new product launches and strategic partnerships. Backed by a global retail network and investments in new channels, Hasbro continues to witness solid growth in its e-commerce revenues.
Coming to unscripted live-action, the company has nearly 40 active productions for Canada, the United States and the United Kingdom. It expects feature films, such as Transformers: Rise of the Beasts and Dungeons & Dragons, to boost revenues and operating profits in 2023.
Robust growth of Portfolio Brands and Non-Hasbro Branded Film & TV are likely to have aided the top line. Our model predicts Portfolio Brands and Non-Hasbro Branded Film & TV revenues to grow 15.7% and 9.2% year over year to $241.7 million and $193.4 million, respectively. However, our model suggests Franchise Brands and Partner Brands revenues to decline 1.4% and 4.4% year over year to $926.8 million and $334.6, respectively.
On the other hand, a decline in cost of sales is likely to have aided the bottom line. Our model forecasts cost of sales to dip 6.6% year over year to $548 million.
Hasbro, Inc. Price and EPS Surprise
Hasbro, Inc. price-eps-surprise | Hasbro, Inc. Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict 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 -3.14% and a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +3.03% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of MGM Resorts have improved 7.2% in the past year. MGM’s earnings surpassed the consensus mark in three of the four quarters and missed once, the average surprise being 105.7%.
Marriott International, Inc. (MAR - Free Report) has an Earnings ESP of +4.23% and a Zacks Rank #3.
Shares of Marriott have jumped 21.4% in the past year. MAR’s earnings outpaced the consensus mark in each of the trailing four quarters, the average surprise being 5.5%.
Hilton Worldwide Holdings Inc. (HLT - Free Report) has an Earnings ESP of +5.35% and a Zacks Rank #2.
Shares of Hilton have climbed 13.2% in the past year. HLT’s earnings outshined the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 12.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.