HAS earnings analysis
What we found in HAS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Hasbro reported strong Q1 2026 results with revenue of $1.0 billion, a 12.7% increase year-over-year. This performance was driven by significant growth in the Wizards of the Coast and Digital Gaming segment, leading to a substantial increase in operating profit to $270.3 million. However, the Consumer Products and Entertainment segments saw slight declines in revenue, highlighting challenges in those areas.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 12.7%
- Q1 2026 revenue reached $1,000.2 million, up from $887.1 million in Q1 2025.
- Operating Profit Increased by 58.3%
- Operating profit rose to $270.3 million in Q1 2026, compared to $170.7 million in Q1 2025.
- Strong Performance in Digital Gaming
- Wizards of the Coast and Digital Gaming segment revenues grew 25.9% to $582 million.
- Improved Gross Margin
- Gross margin increased to 76.4% in Q1 2026, up from 76.9% in Q1 2025.
- Operating Cash Flow Jumped
- Operating cash flow was $337.7 million, significantly increased from $138.1 million in Q1 2025.
- Net Earnings Attributable to Hasbro Increased
- Net earnings attributable to Hasbro reached $198.4 million, a substantial increase from $98.6 million a year ago.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Cybersecurity Incident Costs
- Costs related to unauthorized network access are expected to impact Q2 revenues and operating profits.
- Tariff Cost Increase
- $8.3 million of incremental tariff costs burdened the cost of sales in Q1 2026.
- Segment Declines in Consumer Products
- Consumer Products revenue decreased slightly by 0.1% to $397.9 million.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.39
- Gross margin
- 76.4%
- Operating margin
- 27.0%
- Segment
- Wizards of the Coast
- Segment
- Digital Gaming
- Segment
- Consumer Products
- Segment
- Entertainment
What they said about what is next.
Full-year guidance reiterated for total revenue growth of +3% to +5% in constant currency; adjusted operating margin of 24%-25%; adjusted EBITDA of $1.40B-$1.45B.
The filing reads better than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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