Spielwarenmesse: Hasbro reports full-year and fourth quarter 2017 financial results

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Hasbro reports full-year and fourth quarter 2017 financial results

08. February 2018 12:53 h:

Board of directors increases quarterly dividend 11%, or $0.06 per share, to $0.63 per share

Full-Year 2017

  • 2017 full-year net revenues of $5.21 billion increased 4%, including a favorable $79.2 million impact of foreign exchange; Operating profit margin of 15.6%;
  • 2017 revenues grew in all major operating segments: 5% in the U.S. and Canada segment; 2% in the International segment; and 8% in the Entertainment and Licensing segment;
  • Franchise Brand revenues increased 10%; Hasbro Gaming revenues up 10%; Emerging Brands grew 2%; Partner Brands declined 10%;
  • U.S. tax reform, passed in December 2017, resulted in a $296.5 million net charge, or $2.33 per diluted share;
  • Adjusted net earnings, excluding the impact of U.S. tax reform, were $693.1 million or $5.46 per diluted share; Reported net earnings of $396.6 million or $3.12 per diluted share;
  • $724.4 million in operating cash flow generated during the year; Year-end cash and cash equivalents of $1.58 billion;
  • Company returned $427.0 million to shareholders in 2017; $277.0 million in dividends and $150.0 million in share repurchases.

Fourth Quarter 2017

  • Fourth Quarter net revenues decreased 2% to $1.60 billion, including a favorable $44.3 million impact of foreign exchange; Operating profit margin of 17.0%;
  • U.S. tax reform resulted in a $296.5 million net charge, or $2.35 per diluted share;
  • Adjusted net earnings, excluding the impact of U.S. tax reform, were $291.2 million or $2.30 per diluted share; Reported net loss of $5.3 million, or $0.04 per diluted share;

Hasbro, Inc. yesterday reported financial results for the full-year and fourth quarter 2017. Net revenues for the full-year 2017 increased 4% to $5.21 billion versus $5.02 billion in 2016. 2017 net revenues include a favorable $79.2 million impact from foreign exchange.

As reported net earnings for the full-year 2017 of $396.6 million, or $3.12 per diluted share, compared to $551.4 million, or $4.34 per diluted share in 2016. Adjusted 2017 net earnings were $693.1 million, or $5.46 per diluted share, excluding a $296.5 million, or $2.33 per diluted share, impact from U.S. tax reform. Adjusted net earnings for the full-year 2016 were $566.1 million, or $4.46 per diluted share, excluding a post-tax $14.7 million, or $0.12 per diluted share, non-cash fourth quarter 2016 goodwill impairment charge related to Backflip Studios.

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