Hasbro: significantly improved profitability in Q1

(CercleFinance.com) - Hasbro reports adjusted EPS of $0.
61 for the first quarter of 2024, compared with one cent a year earlier, with an adjusted operating margin improved by 14.9 points to 19.6% thanks to a favorable business mix and lower operating costs.

However, revenues for the toys and games group fell by 24% to $757.3 million, mainly due to the disposal of eOne's film and TV activities, without which sales were down 9%.

For the full year, Hasbro is maintaining its guidance and continues to expect total adjusted EBITDA of between $925 million and $1 billion, as well as gross savings of $750 million by the end of 2025.

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