Guidance
← 실적 발표
01
02
03
04 05 06
톤
자본지출
A1 A2 A3
HAS
FY2025 Q3
상향
Hasbro, Inc. 실적 발표
Buzzberg 분석
Full-year guidance raised, EBITDA ~$1.25B midpoint
Hasbro raised full-year guidance driven by Magic's 55% revenue growth and improving consumer products trajectory. Management highlighted supply chain diversification to reduce China exposure to 30% by 2026 and secured major IP partnerships including Netflix's K-pop Demon Hunters and multiple Universes Beyond for Magic. Magic revenue surged 55% in Q3, led by Universes Beyond sets like Final Fantasy (biggest set ever) and strong backlist performance.
Buzzberg 분석 Full-year guidance raised, EBITDA ~$1.25B midpoint Hasbro raised full-year guidance driven by Magic's 55% revenue growth and improving consumer products trajectory. Management highlighted supply chain diversification to reduce China exposure to 30% by 2026 and secured major IP partnerships including Netflix's K-pop Demon Hunters and multiple Universes Beyond for Magic. Magic revenue surged 55% in Q3, led by Universes Beyond sets like Final Fantasy (biggest set ever) and strong backlist performance. 전체 분석 보기분석 접기
Hasbro raised full-year guidance driven by Magic's 55% revenue growth and improving consumer products trajectory. Management highlighted supply chain diversification to reduce China exposure to 30% by 2026 and secured major IP partnerships including Netflix's K-pop Demon Hunters and multiple Universes Beyond for Magic. Magic revenue surged 55% in Q3, led by Universes Beyond sets like Final Fantasy (biggest set ever) and strong backlist performance.
- Full-year guidance raised: total revenue growth high single digits, adj. operating margin 22-23%, Wizards revenue growth 36-38%.
- Consumer products down 7% in Q3 but expected to be flat-to-up in Q4 with accelerating POS and restocking, driven by innovation and shelf resets.
- Tariff mitigation playbook: aiming for only 30% of toy/game revenue from China by 2026, with 30% from US manufacturing.
CONSUMER_PRODUCTS 매출$797M보고값
매출$1.3875B보고값
WIZARDS 매출$572M보고값
주당순이익(EPS)$1.68보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Demand
Magic: Final Fantasy set is biggest in history
Product Pipeline
At least one 2026 Magic set could rival Final Fantasy
핵심 내용 3개 더 보기
Supply Chain
Tariff mitigation to keep 2025 P&L impact at $60M
Demand
Retail inventories down mid-teens, replenishment driving Q4
Capex
Exodus capitalized software ~$350M, 85% hit within first year
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| CONSUMER_PRODUCTS 매출 | $797M | 보고값 |
| 매출 | $1.3875B | 보고값 |
| WIZARDS 매출 | $572M | 보고값 |
| 주당순이익(EPS) | $1.68 | 보고값 |
| 매출총이익률 | 68.37% | 보고값 |
| 영업이익률 | 24.58% | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 영업이익률 | FY2025 | 22%–23% | 22.5% | 상향 |
| 영업이익률CONSUMER_PRODUCTS | FY2025 | 4%–6% | 5% | 유지 |
| 영업이익률WIZARDS | FY2025 | 44% | 44% | 상향 |
| 매출 | FY2025 | 7%–9% | 8% | 상향 |
| 매출WIZARDS | FY2025 | 36%–38% | 37% | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed strong confidence in the business, citing record engagement, raised guidance, and positive future outlook across Magic, consumer products, and digital initiatives.
투자 및 생산능력
Management discussed the capitalized software on the balance sheet, which includes development costs for Exodus and other games. The company expects this cost to be depreciated over time once games launch, impacting gross margins but not EBITDA. They also noted that they are investing in digital gaming and strategic partners, with a disciplined, returns-driven approach.
아래에 언급된 기업 8개 모두 표시
기업발표 이후 수익률
고객
고객
Chris Cox
Hasbro's strong promotional partnerships with major US retailers are supporting order growth and POS momentum into the holidays.
근거
“Amazon, Walmart, and Target in particular”
고객
Chris Cox
Hasbro's supply chain diversification is enabling distribution into new retail formats globally, including Chilean bodegas (Cencosud chain).
근거
“from bodegas in Santiago to dollar stores in Peoria”
파트너
파트너
Chris Cox
Hasbro secures a major licensing deal with Netflix for K-pop Demon Hunters, expanding its toy and game portfolio with a hot new entertainment property.
근거
“we announced an exciting collaboration tied to Netflix hit film K-pop Demon Hunters product is expected to hit shelves in 2026”
파트너
Chris Cox
Hasbro's Universes Beyond for Magic includes TMNT (Paramount), Star Trek (Paramount), and The Hobbit (Warner Bros), signaling deepening IP partnerships.
근거
“Teenage Mutant Ninja Turtles, The Hobbit, Star Trek, and Marvel Super Heroes”
외부 신호
공급망 알파 · 3발표 이후 수익률
Hasbro expects to source only 30% of toy/game revenue from China by 2026 and 30% from US manufacturing, drastically reducing tariff exposure.
근거
“by 2026 we expect approximately 30% of our total Hasbro toy and game revenue will be sourced from China and 30% of our revenue will be based in the U.S.”
Hasbro's retail inventories are down mid-to-high teens entering Q4 but order book is accelerating, suggesting restocking demand that could boost Q4 CP revenue.
근거
“our retail inventories were down kind of mid to high teens in the U.S. coming into fourth quarter. Our order book has accelerated versus what we've seen in previous fourth quarters.”
Final Fantasy is already Magic's biggest set ever, and management sees at least one 2026 set that could rival or beat it, suggesting the Universes Beyond growth runway is far from exhausted.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 8개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.