Hasbro Third-Quarter Revenue Rises 15% to $1.595 Billion as Adjusted EPS of $2.90 Beats Estimates, Magic: The Gathering Revenue Hits a Record $616.1 Million and Full-Year Guidance Is Raised
Hasbro, Inc. reported third-quarter 2026 results on Tuesday, October 20. Revenue rose 15% to $1.595 billion, above the roughly $1.48 billion analysts expected. Net earnings were $394.5 million, or $2.77 a diluted share, compared with $233.2 million, or $1.64 a share, a year earlier; adjusted earnings reached $2.90 a share, up 73% and well above estimates of about $1.85 to $1.86. Operating profit was $517 million and adjusted operating profit rose 52% to $541.2 million; results included a benefit of about $55 million from tariff refunds. Hasbro shares gained more than 11% on Tuesday to a roughly seven-year high.
By segment, Wizards of the Coast and Digital Gaming revenue rose 31% to $747.2 million, with Magic: The Gathering revenue up 34% to a record $616.1 million, surpassing $600 million in a quarter for the first time on releases including The Hobbit and Reality Fracture and on backlist sales; the segment's operating profit was $367.4 million at a 49.2% margin. The digital licensing title Monopoly Go! contributed $41 million in the quarter. Consumer Products revenue grew 4% to $827.9 million, a fourth consecutive quarter of growth, led by Marvel and Transformers licensing; its adjusted operating profit doubled to $177.7 million, including a $48 million tariff-refund benefit. Entertainment revenue rose 9% to $20.2 million. Inventories were $358.9 million, down 10% from a year earlier.
Hasbro raised its full-year 2026 outlook: constant-currency revenue growth is now expected at 7% to 9%, up from 5% to 7%, with an adjusted operating margin of 27% to 28% and adjusted EBITDA of $1.575 billion to $1.625 billion, up from $1.45 billion to $1.50 billion. The company doubled its full-year share repurchase target to $400 million from $200 million, returned $206 million to shareholders through dividends and buybacks in the quarter, and deployed $79 million toward bond repurchases and prefunding upcoming maturities. Operating cash flow for the first nine months reached $907.3 million, up 85%, with $105 million of cost savings realized against a full-year target of $150 million.
Chief Executive Chris Cocks told analysts the company has now delivered double-digit revenue growth for four consecutive quarters; Chief Financial Officer and Chief Operating Officer Gina Goetter also took part in the earnings call. Management expects Magic: The Gathering to grow again in 2027, supported by six major releases.
Published by GSM · USA (original Chinese edition)
Photo: 孩之宝位于罗得岛州波塔基特的全球总部资料图。照片：Kenneth C. Zirkel 摄，CC BY 4.0，经维基共享资源。 / File photo: Hasbro's world headquarters in Pawtucket, Rhode Island. Photo by Kenneth C. Zirkel, CC BY 4.0, via Wikimedia Commons.
