Hasbro reports 4h quarter and full year 2024 financial results

Hasbro reported financial results for the fourth quarter and full year 2024.

“I’m proud of our team for delivering what we promised in 2024: we grew in games and licensing, stepped up our operational efficiency, and vastly improved the performance of our toy business,” said Chris Cocks, Hasbro’s Chief Executive Officer. “In 2025, we’re excited to bring a stellar lineup of toys and games to fans, expanding the reach of our IP through outstanding partnerships while we continue to focus on operational rigor and anticipating the future of play.”

“The Hasbro team delivered our 2024 plan, significantly improved profitability and strengthened the balance sheet while continuing to invest in the business and return cash to shareholders,” said Gina Goetter, Hasbro’s Chief Financial Officer and Chief Operating Officer. “We are optimistic about growth opportunities in 2025 and beyond as we execute our strategy behind a powerful portfolio of brands.”

Full Year 2024 Highlights

• Full year Hasbro revenue declined 17% driven primarily by the eOne divestiture; excluding this impact, revenue declined 7%. Growth of 4% in the Wizards of the Coast and Digital Gaming segment was offset by declines in Consumer Products (-12%) and Entertainment (-88%, or -4%) excluding the eOne divestiture).

• Operating profit of $690 million and operating margin of 16.7% includes $149 million of costs for acquired intangible amortization, loss on disposal of business, and costs associated with the Company's transformation.

• Adjusted operating profit of $839 million (+$362 million vs. PY) and adjusted operating margin of 20.3% (+10.8 points vs. PY), driven by the lap of 2023 non-recurring inventory costs, favorable business mix and cost savings.

• Reported net earnings of $2.75 per diluted share; adjusted net earnings of $4.01 per diluted share benefiting from improved operations, business mix and tax favorability.

• Delivered $370 million of gross cost savings and $227 million of net cost savings; Hasbro owned inventory down 17% versus prior year.

• Paid $390 million in cash dividends to shareholders and reduced debt by $83 million.

• Operating cash flow of $847 million vs. $726 million in the prior year driven by improved profitability and working capital.

Find more details and information for all segments in the source description.

Source: https://investor.hasbro.com/static-files/721d5571-d5e1-4184-943f-43a3ad0d0fc5