Hasbro Swings To Profit In Q2; Declares Dividend

(RTTNews) - Toy and game company Hasbro, Inc. (HAS) reported Thursday net earnings attributable to Hasbro for the second quarter of $138.5 million or $0.99 per share, compared to a net loss of $235.0 million or $1.69 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $1.22 per share, compared to $0.49 in the prior-year quarter. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.78 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter decreased 18 percent to $995.3 million from $1.21 billion in the same quarter last year. Analysts expected revenues of $943.56 million for the quarter.

The Board of Directors has declared a quarterly cash dividend of $0.70 per common share, payable on September 4, 2024, to shareholders of record at the close of business on August 21, 2024.

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