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HAS
FY2026 Q1
개선
Hasbro, Inc. 실적 발표
Buzzberg 분석
Magic backlist sets quarterly record, 2026 third largest backlist year ever
Hasbro delivered a strong Q1 led by Magic's record-breaking set launches and POS gains in consumer products. Management reiterated full-year guidance despite cyber incident delays and oil cost headwinds, with confidence in the back-half ramp from entertainment content and cost mitigation actions. Magic Q1 saw its best-selling premiere set ever (Lorwyn Eclipsed) and Strixhaven already surpassing it in Q2; backlist set a quarterly record.
Buzzberg 분석 Magic backlist sets quarterly record, 2026 third largest backlist year ever Hasbro delivered a strong Q1 led by Magic's record-breaking set launches and POS gains in consumer products. Management reiterated full-year guidance despite cyber incident delays and oil cost headwinds, with confidence in the back-half ramp from entertainment content and cost mitigation actions. Magic Q1 saw its best-selling premiere set ever (Lorwyn Eclipsed) and Strixhaven already surpassing it in Q2; backlist set a quarterly record. 전체 분석 보기분석 접기
Hasbro delivered a strong Q1 led by Magic's record-breaking set launches and POS gains in consumer products. Management reiterated full-year guidance despite cyber incident delays and oil cost headwinds, with confidence in the back-half ramp from entertainment content and cost mitigation actions. Magic Q1 saw its best-selling premiere set ever (Lorwyn Eclipsed) and Strixhaven already surpassing it in Q2; backlist set a quarterly record.
- Consumer products POS positive; $40-60M of CP revenue shifted from Q2 to Q3 due to cyber incident, but underlying demand is healthy.
- Full-year guidance maintained: total revenue +3-5% CC, operating margin 24-25%, Wizards low-40% margin, CP margin 6-8%.
- Oil cost pressure (~$30M in H2) partially offset by tariff benefit ($15M) and productivity actions; margins planned to grow in CP H2.
CONSUMER_PRODUCTS 매출$398M보고값
매출$1.0002B-31% 전분기 대비
WIZARDS 매출$582M보고값
주당순이익(EPS)$1.47-3% 전분기 대비
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Product
Secrets of Strixhaven surpasses Aetherdrift as largest Magic premiere set
Demand
MagicCon Las Vegas sold 23,000+ badges, largest Magic event
핵심 내용 3개 더 보기
Digital Gaming
Marvel Super Heroes digital rights on Magic Arena announced with Disney
Guidance
Cyber incident to delay $40-60M CP revenue from Q2 to back half
Costs
Oil cost pressure ~$30M, mostly in consumer products, mitigated by actions
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| CONSUMER_PRODUCTS 매출 | $398M | 보고값 |
| 매출 | $1.0002B | -31% 전분기 대비 |
| WIZARDS 매출 | $582M | 보고값 |
| 주당순이익(EPS) | $1.47 | -3% 전분기 대비 |
| 매출총이익률 | 68.23% | 보고값 |
| 영업이익률 | 27.02% | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 영업이익률 | FY2026 | 24%–25% | 24.5% | 유지 |
| 영업이익률WIZARDS | FY2026 | 40%–43% | 41.5% | 유지 |
| 영업이익률CONSUMER_PRODUCTS | FY2026 | 6%–8% | 7% | 유지 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management emphasized strong momentum, record Magic sales, share gains, and reiterated full-year guidance despite macro headwinds.
아래에 언급된 기업 3개 모두 표시
기업발표 이후 수익률
파트너
파트너
Chris Cox
Monopoly Go is generating steady high-margin licensing revenue (~$41M in Q1) and shows no signs of fading; Scopely's execution is strong.
근거
“Monopoly Go continues to frankly be a juggernaut. The Scopely team is absolutely killing it.”
파트너
Chris Cox
Upcoming Netflix animated series for Magic could drive first-party set demand and broaden Magic's mainstream audience.
근거
“the new Netflix series, which is going to be killer, probably one of the biggest animation events that certainly for fans that Netflix has helped to invest in”
파트너
Chris Cox
Deepening partnership expands Magic's digital reach and adds recurring content pipeline; Disney benefits from incremental licensing and platform exposure.
근거
“yesterday, in partnership with the Walt Disney Company, we announced Magic Arena will feature full digital rights for the upcoming Marvel Super Heroes launch.”
외부 신호
공급망 알파 · 5발표 이후 수익률
Magic's printing reprint lead times have doubled from 6 weeks to 3-4 months due to industry-wide capacity tightness, but extended rotation periods (32-36 months) mitigate sell-out risk.
근거
“We used to be able to accommodate a reprint inside of six weeks. Now that's more like three to four months.”
Cyber incident will shift $40-60M of consumer products revenue from Q2 to Q3, masking underlying POS trends and creating a lumpy cash flow pattern.
근거
“we expect approximately $40 to $60 million of consumer products revenue to be delayed from Q2 to the back half of the year.”
Oil cost pressure of ~$30M (assuming $100/bbl) will hit CP margins in H2, offset by $15M tariff benefit and accelerated productivity actions.
근거
“The rough impact for this year is about $30 million, and that is assuming that oil stays around that $100 price per barrel.”
Trading cards category is on track to overtake building sets as the largest toy segment, driven by Magic's multi-formula success.
근거
“trading cards is probably the hottest category in all of toy and games... the category is going to eclipse building sets either this year or next year in terms of total size”
Hasbro's 'gem-squared' categories (gamified, entertainment-driven, multi-purchase, multi-generational) grew 22% in 2025 while the toy industry declined 3%, supporting retailer open-to-buy.
방법론 및 범위
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