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Hasbro Revenue, Income, Increase in Q2 image

Hasbro Revenue, Income, Increase in Q2

Hasbro’s net income in the 2nd quarter ended July 2 rose 30% to $67.7 million as revenue jumped 11% to $927.5 million, led partly by licensed brands.

Sales of Hasbro’s own brands (Monopoly, Magic the Gathering, Nerf) increased 21% to $545.7 million, while the licensed business inched up 1% to $230 million on increases in revenue from Beyblade, Trolls, Disney Princess and Marvel properties. U.S. sales increased 16% to $494.4 million, while those in international markets rose 6% to $426.6 million

Hasbro’s Entertainment and Licensing division operating profit in Q2 ended June 30 fell 18% to $11.3 million as revenue declined 1% to $51.5 million, owing to the timing of royalty payments and a “relatively flat” UK business tied to “Brexit-focused issues,” Hasbro CEO Brian Goldner told analysts.

Goldner said that much of the licensing business tied to Transformers: The Last Knight, which was released in the U.S. on June 21, will be reflected in the 3rd quarter, as licensees report sales and royalties.

Meanwhile, revenue from “Partner Brands” (those that are licensed in), rose 1% in the quarter, and were off 9% for the first half. Goldner said that the schedule of big movie releases is heavily weighted toward the second half, buoyed by such films as Star Wars and the Frozen-based Olaf’s Frozen Adventure.

At the same time, though, while Hasbro’s sales were flat in the U.K., revenue rose by “double digits” in the remainder of Europe, Goldner said. Hasbro had closeout sales in Europe during Q2 to sell off excess inventory.

In Brazil, where “political uncertainty” has resulted in a sluggish consumer business, company sales decreased, but the rest of the Latin American market “performed quite well,” Goldner said.

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