Why Monopoly Game Owner Hasbro's Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Hasbro Inc (NASDAQ:HAS) shares dropped after reporting a 23% Y/Y decline in Q4 FY23 sales to $1.289 billion, missing analyst estimates. The company saw a significant decrease in Consumer Products and Entertainment segment revenues, but an increase in Wizards of the Coast and Digital Gaming. Operating loss widened to $(1.20) billion, and adjusted EPS of $0.38 missed expectations. Despite reducing inventory and declaring a dividend, the outlook for FY24 includes further revenue declines across segments. Hasbro aims for mid-term gross savings of $750 million by 2025.
February 13, 2024 | 1:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Hasbro Inc reported a significant decline in Q4 FY23 sales and a widened operating loss, leading to a premarket share price drop of 11.4%.
The significant decline in sales and widened operating loss directly impact investor sentiment, leading to a sharp decrease in Hasbro's stock price. The missed analyst estimates and negative outlook for FY24 further contribute to the bearish short-term outlook for HAS shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100