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Hasbro Q3 Earnings and Revenues Top Estimates, EBITDA View Raised
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Key Takeaways
Hasbro's Q3 top and bottom lines surpassed estimates despite a year-over-year EPS dip.
Wizards of the Coast drove results, with Magic: The Gathering hitting record performance.
Hasbro lifted its 2025 revenue and EBITDA forecasts on strong brand and strategy execution.
Hasbro, Inc. (HAS - Free Report) reported third-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while the bottom line decreased from the prior-year quarter.
Hasbro’s third-quarter fiscal 2025 performance was supported by the continued strength of its brand portfolio and execution of the “Playing to Win” strategy. The standout driver was Wizards of the Coast, with Magic: The Gathering delivering record-breaking results and reinforcing its position as a core growth engine. The company also benefited from stronger Consumer Products point-of-sale trends and market share gains heading into the holiday season, signaling healthy demand.
HAS’ Q2 Earnings & Revenues
In third-quarter fiscal 2025, HAS reported adjusted earnings per share (EPS) of $1.68, which beat the Zacks Consensus Estimate of $1.66. In the year-ago quarter, it reported an adjusted EPS of $1.74.
Net revenues of $1,387.5 million beat the consensus mark of $1,345 million. Moreover, the top line rose 8.3% from $1,281.3 million reported in the prior-year period.
HAS’ Segmental Revenues
Hasbro has three reportable operating segments, Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment.
In the fiscal third quarter, net revenues from the Consumer Products segment decreased 7% year over year to $769.9 million. The decline was consistent with company expectations, largely reflecting the impact of delayed holiday shelf resets at U.S. retailers. Our model predicted the segment’s revenues to be $798.6 million. Adjusted operating margin was 1.1% flat year over year.
The Wizards of the Coast and Digital Gaming segment’s revenues totaled $572 million, up 42% from $404 million reported in the year-ago quarter. Our model predicted the segment’s revenues to be $498.5 million. Adjusted operating margin was 44% compared with 44.9% reported in the year-ago quarter.
The Entertainment segment’s revenues rose 8% year over year to $18.6 million. Our model predicted the segment’s revenues to be $17 million. Adjusted operating margin was 60.8% compared with 76.7% reported in the year-ago quarter.
Operating Highlights of HAS
In the fiscal third quarter, Hasbro’s cost of sales (as a percentage of net revenues) was 29.9% compared with 29.6% in the year-earlier quarter.
Selling, distribution and administration expenses were $287.3 million compared with $299.3 million reported in the prior-year quarter.
The company reported adjusted EBITDA of $412.9 million compared with $406.4 million a year ago. Our estimate for the metric was $373.8 million.
Hasbro’s Balance Sheet
As of Sept. 28, 2025, cash and cash equivalents were $620.9 million compared with $696.1 million as of Sept. 29, 2024. At the end of the reported quarter, inventories totaled $396.7 million compared with $375.4 million a year ago.
As of Sept. 28, 2025, long-term debt was $3.32 billion, down from $3.46 billion as of Sept. 29, 2024.
HAS Raises 2025 Outlook
For 2025, Hasbro now anticipates total revenues to increase in high single digits on a constant currency basis. Earlier, the company expected total revenues to increase in mid-single digits.
It continues to expect the adjusted operating margin to be between 22% and 23%.
Adjusted EBITDA is now expected to be in the range of $1.24-$1.26 billion, up from the prior expectation of $1.17-$1.2 billion.
The company delivered a trailing four-quarter earnings surprise of 29.1%, on average. NCLH stock has declined 7.2% year to date. The Zacks Consensus Estimate for NCLH’s 2025 sales and EPS indicates growth of 6% and 14.8%, respectively, from the year-ago period’s levels.
Carnival flaunts a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 169.8%, on average. Carnival stock has gained 17.3% year to date.
The Zacks Consensus Estimate for Carnival’s 2025 sales and EPS indicates growth of 6.5% and 51.4%, respectively, from the prior-year levels.
Planet Fitness has a Zacks Rank of 2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 6.8%, on average. Planet Fitness stock has gained 22.2% in the past year.
The Zacks Consensus Estimate for Planet Fitness’ 2025 sales and EPS indicates growth of 10.2% and 13.1%, respectively, from the prior-year levels.
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Hasbro Q3 Earnings and Revenues Top Estimates, EBITDA View Raised
Key Takeaways
Hasbro, Inc. (HAS - Free Report) reported third-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line increased year over year, while the bottom line decreased from the prior-year quarter.
Hasbro’s third-quarter fiscal 2025 performance was supported by the continued strength of its brand portfolio and execution of the “Playing to Win” strategy. The standout driver was Wizards of the Coast, with Magic: The Gathering delivering record-breaking results and reinforcing its position as a core growth engine. The company also benefited from stronger Consumer Products point-of-sale trends and market share gains heading into the holiday season, signaling healthy demand.
HAS’ Q2 Earnings & Revenues
In third-quarter fiscal 2025, HAS reported adjusted earnings per share (EPS) of $1.68, which beat the Zacks Consensus Estimate of $1.66. In the year-ago quarter, it reported an adjusted EPS of $1.74.
Hasbro, Inc. Price, Consensus and EPS Surprise
Hasbro, Inc. price-consensus-eps-surprise-chart | Hasbro, Inc. Quote
Net revenues of $1,387.5 million beat the consensus mark of $1,345 million. Moreover, the top line rose 8.3% from $1,281.3 million reported in the prior-year period.
HAS’ Segmental Revenues
Hasbro has three reportable operating segments, Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment.
In the fiscal third quarter, net revenues from the Consumer Products segment decreased 7% year over year to $769.9 million. The decline was consistent with company expectations, largely reflecting the impact of delayed holiday shelf resets at U.S. retailers. Our model predicted the segment’s revenues to be $798.6 million. Adjusted operating margin was 1.1% flat year over year.
The Wizards of the Coast and Digital Gaming segment’s revenues totaled $572 million, up 42% from $404 million reported in the year-ago quarter. Our model predicted the segment’s revenues to be $498.5 million. Adjusted operating margin was 44% compared with 44.9% reported in the year-ago quarter.
The Entertainment segment’s revenues rose 8% year over year to $18.6 million. Our model predicted the segment’s revenues to be $17 million. Adjusted operating margin was 60.8% compared with 76.7% reported in the year-ago quarter.
Operating Highlights of HAS
In the fiscal third quarter, Hasbro’s cost of sales (as a percentage of net revenues) was 29.9% compared with 29.6% in the year-earlier quarter.
Selling, distribution and administration expenses were $287.3 million compared with $299.3 million reported in the prior-year quarter.
The company reported adjusted EBITDA of $412.9 million compared with $406.4 million a year ago. Our estimate for the metric was $373.8 million.
Hasbro’s Balance Sheet
As of Sept. 28, 2025, cash and cash equivalents were $620.9 million compared with $696.1 million as of Sept. 29, 2024. At the end of the reported quarter, inventories totaled $396.7 million compared with $375.4 million a year ago.
As of Sept. 28, 2025, long-term debt was $3.32 billion, down from $3.46 billion as of Sept. 29, 2024.
HAS Raises 2025 Outlook
For 2025, Hasbro now anticipates total revenues to increase in high single digits on a constant currency basis. Earlier, the company expected total revenues to increase in mid-single digits.
It continues to expect the adjusted operating margin to be between 22% and 23%.
Adjusted EBITDA is now expected to be in the range of $1.24-$1.26 billion, up from the prior expectation of $1.17-$1.2 billion.
HAS’ Zacks Rank
Hasbro currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks from the Consumer Discretionary sector are Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) , Carnival Corporation & plc (CCL - Free Report) and Planet Fitness, Inc. (PLNT - Free Report) .
Norwegian Cruise Line flaunts a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company delivered a trailing four-quarter earnings surprise of 29.1%, on average. NCLH stock has declined 7.2% year to date. The Zacks Consensus Estimate for NCLH’s 2025 sales and EPS indicates growth of 6% and 14.8%, respectively, from the year-ago period’s levels.
Carnival flaunts a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 169.8%, on average. Carnival stock has gained 17.3% year to date.
The Zacks Consensus Estimate for Carnival’s 2025 sales and EPS indicates growth of 6.5% and 51.4%, respectively, from the prior-year levels.
Planet Fitness has a Zacks Rank of 2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 6.8%, on average. Planet Fitness stock has gained 22.2% in the past year.
The Zacks Consensus Estimate for Planet Fitness’ 2025 sales and EPS indicates growth of 10.2% and 13.1%, respectively, from the prior-year levels.