Hasbro Reports Q2 Earnings, Revenues Top Analyst Forecasts
July 19, 2011
Hasbro (NYSE:HAS) reported Q2 EPS of 42 cents per share, excluding a 15-cent tax benefit and 6-cent charge, EPS was 33 cents. Analysts were expecting 39 cents per share. Revenue rose 23% year-over-year to $908.5 million, better than the $854.8 million consensus estimate.The company's Boys product revenue rose 96% YoY while Games & Puzzles and Girls categories fell 12% and 11%, respectively. Hasbro's pre-school product lines also fell 10% year-over-year.Brian Goldner, President and Chief Executive Officer said, "The Hasbro team executed our branded-play strategy globally to deliver both a strong second quarter and to lay the framework for growth in 2011 and beyond. Today, our brands are bigger and more global, many are backed by entertainment and the application of our brand blueprint is providing consumers with the opportunity to enjoy our brands across an increasingly broad spectrum of consumer goods and entertainment formats."Hasbro (NYSE:HAS) has a potential upside of 26.9% based on a current price of $41.37 and an average consensus analyst price target of $52.5.