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FY2026 Q1
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Отчётный звонок Hasbro, Inc.
Вывод Buzzberg
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.
Вывод Buzzberg 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. Читать полный анализСвернуть анализ
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 Выручка$398MФакт
Выручка$1.0002B-31% к/к
WIZARDS Выручка$582MФакт
EPS$1.47-3% к/к
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Product
Secrets of Strixhaven surpasses Aetherdrift as largest Magic premiere set
Demand
MagicCon Las Vegas sold 23,000+ badges, largest Magic event
Показать ещё 3 тезиса
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
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| CONSUMER_PRODUCTS Выручка | $398M | Факт |
| Выручка | $1.0002B | -31% к/к |
| WIZARDS Выручка | $582M | Факт |
| EPS | $1.47 | -3% к/к |
| Валовая маржа | 68.23% | Факт |
| Операционная маржа | 27.02% | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Операционная маржа | FY2026 | 24%–25% | 24.5% | Подтверждён |
| Операционная маржаWIZARDS | FY2026 | 40%–43% | 41.5% | Подтверждён |
| Операционная маржаCONSUMER_PRODUCTS | FY2026 | 6%–8% | 7% | Подтверждён |
AI, капзатраты и спрос
Оценка менеджмента
Confident
Management emphasized strong momentum, record Magic sales, share gains, and reiterated full-year guidance despite macro headwinds.
все упомянутые компании ниже: 3
Компаниис момента звонка
Партнёры
Партнёры
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.
Доказательства
“Monopoly Go continues to frankly be a juggernaut. The Scopely team is absolutely killing it.”
Партнёры
Chris Cox
Upcoming Netflix animated series for Magic could drive first-party set demand and broaden Magic's mainstream audience.
Доказательства
“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”
Партнёры
Chris Cox
Deepening partnership expands Magic's digital reach and adds recurring content pipeline; Disney benefits from incremental licensing and platform exposure.
Доказательства
“yesterday, in partnership with the Walt Disney Company, we announced Magic Arena will feature full digital rights for the upcoming Marvel Super Heroes launch.”
Внешние сигналы
Альфа цепочки поставок · 5с момента звонка
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.
Доказательства
“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.
Доказательства
“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.
Доказательства
“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.
Доказательства
“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.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 3. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.