Hasbro Q4 Earnings Top Estimates, Hikes Dividend

Hasbro Inc HAS reported fourth-quarter FY21 sales growth of 17% year-on-year, to $2.01 billion, beating the analyst consensus of $1.87 billion.
Net revenues for the Consumer Products segment rose 9% Y/Y to $1.4 billion, Wizards of the Coast and Digital Gaming climbed 18% to $277.9 million, and Entertainment jumped 54% to $379.7 million.
Selling, distribution, and administration expenses rose 17% to $428 million.
The operating margin for the quarter contracted 230 basis points to 8.5%. Adjusted operating profit fell 15.8% to $219.9 million.
EBITDA decreased 18% to $203.9 million. Adjusted EPS of $1.21 beat the analyst consensus of $0.88.
Net cash provided by operating activities for the twelve months fell 16.2% Y/Y to $817.9 million. The company held $1.02 billion in cash and equivalents as of December 26, 2021.
Hasbro increased the quarterly cash dividend by 3% to $0.70 per common share, payable on May 16, 2022, to shareholders of record on May 2, 2022.
Hasbro has $367 million available under its authorized share repurchase programs.
Outlook: Hasbro said it has a plan for continued growth in 2022, including revenue and operating profit growth at a low-single-digit rate and operating cash flow of $700 million - $800 million.
For full-year 2023, the company expects operating profit margin to exceed 16% and operating cash flow to reach $1 billion.
For the medium term, through year-end 2024, Hasbro expects revenue growth in the mid-single digits on a compound annual basis.
Price Action: HAS shares are trading higher by 0.09% at $94.00 in premarket on Monday.

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