Hasbro, Inc., alongside its various subsidiaries, operates as a global leader in the play and entertainment industry. Its Consumer Products segment focuses ...
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Operator: Good morning. Welcome to the Hasbro Second Quarter 2026 Earnings Conference Call. At this time, all parties will be in listen only mode. If anyone should require operator assistance during the conference, please press star zero from your telephone keypad. Today's conference is being recorded. If you have any objections, you may disconnect at this time. At this time, I'd like to turn the call over to Fred Wightman, Vice President, Hasbro Investor Relations. Please go ahead. Fred Wightman: Thank you. Good morning, everyone. Joining me today are Chris Cocks, Hasbro's Chief Executive Officer, and Gina Goetter, Hasbro's Chief Financial Officer and Chief Operating Officer. We'll begin today's call with Chris and Gina providing commentary on the company's performance before taking your questions. Our earnings release and presentation slides for today's call are posted on our investor website. The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the press release and presentation. Please note that whenever we discuss earnings per share or EPS, we're referring to earnings per diluted share. Before we begin, I would like to remind you that during this call and the question and answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives, and similar matters. There are many factors that could cause actual results or events to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. These factors include those set forth in our annual report on Form 10-K, our most recent 10-Q, in today's press release, and in our other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call. I'd now like to introduce Chris Cocks. Chris? Chris Cocks: Thanks, Fred. Good morning, everyone. Hasbro delivered another strong quarter, capping off a remarkable first half of 2026. Despite headwinds from oil and trade policy, the business delivered 15% growth for the first half, with profits up appreciably. Wizards continues to grow at a strong clip. The toy business posted another quarter of growth, and our momentum is broad-based with Magic, D&D, Hasbro Gaming, Peppa Pig, Star Wars, and Marvel all showing solid year-over-year performance. Magic is off to a ripping start, up over 32% in Q2 and over 34% in the first half. On that strength, we're raising our full year Wizards outlook, which Gina will size in her section. Marvel Super Heroes set a record for day one and month one revenue and became the fastest set to reach $300 million in revenue with solid reorders and sell-through. The Hobbit …
Est. EPS $1.87 · Revenue $1.48B · 9 analysts
Est. EPS $6.15 · Revenue $5.05B · 8 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| The total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). |
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Christian Cocks | Chief Executive Officer & Director | USD 8,172,422 | Male | 1974 | Active |
Gina Goetter | Chief Financial Officer & Chief Operating Officer | USD 3,258,738 |
| Female |
| — |
| Active |
John Hight | President of Wizards of the Coast | USD 2,513,779 | Male | 1961 | Active |
Tarrant L. Sibley | Executive Vice President, Chief Legal Officer & Corporate Secretary | USD 2,003,400 | Male | 1969 | Active |
Timothy J. Kilpin | President of Toys, Licensing & Entertainment | USD 1,349,000 | Male | 1961 | Active |
Kim Boyd | President of Licensing & Entertainment | — | Female | — | Active |
Billy Lagor | President of Toys & Game | — | Male | — | Active |
Frederick Charles Wightman | Vice President of Investor Relations | — | Male | — | Active |
Jason Bunge | Chief Marketing Officer | — | Male | 1975 | Active |
Holly Barbacovi | Executive Vice President & Chief People Officer | — | Female | 1977 | Active |
Est. EPS $1.34 · Revenue $1.07B · 6 analysts
Est. EPS $1.39 · Revenue $1.21B · 3 analysts
$2.80 per share
$2.80 per share
| $4.7B |
| +13.7% |
| +13.9% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-322.4M | -183.6% | -19.3% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +70.3% | +8.8% | +11.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +22.5% | +34.9% | -18.0% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -6.9% | -173.5% | -29.2% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $829.9M | +9.2% | -21.5% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +17.7% | -4.0% | -31.1% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 631.6% | +114.4% | -15.3% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.38x | -13.7% | +0.4% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $5.6B | -12.4% | +1.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -2.30 vs 4.99 | -146.1% | 1.12 vs 1.87 | -40.2% |
| Revenue Surprise | $4.7B vs $4.5B | +3.9% | $1.1B vs $1.5B | -23.0% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 31, 2026 | Barbacovi Holly | officer: Chief People Officer | Common Stock (Par Value $.50 per share) | D | 5,057 | $94.20 |
| Aug 26, 2026 | Hamren Elizabeth | director | Common Stock (Par Value $.50 per share) | D | 1,500 | — |
| Aug 19, 2026 | Hight John | officer: President, WOTC | Common Stock (Par Value $.50 per share) | D | 11,593 | $94.63 |
| Aug 17, 2026 | Hight John | officer: President, WOTC | Common Stock (Par Value $.50 per share) | D | 11,229 | $96.29 |
| Aug 15, 2026 | Hight John | officer: President, WOTC | Common Stock (Par Value $.50 per share) | A | 1,384 | $97.15 |
