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Hasbro Reports Strong Revenue, Operating Profit and Earnings Growth for the Full-Year 2021

Date: Tuesday, February 8th 2022 8:28pm CST
Categories: Press Releases, Company News
Posted by: D-Maximal_Primal | Credit(s): Hasbro

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PAWTUCKET, R.I.--(BUSINESS WIRE)--Feb. 7, 2022-- Hasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today reported financial results for the fourth quarter and full-year 2021.

"The Hasbro team finished the year strong and delivered an exceptional full-year 2021, including another record revenue year for Wizards of the Coast; strong revenue growth for consumer products; and a robust, progressively more Hasbro brand-led, content slate to return to 2019 levels of deliveries for entertainment," said Rich Stoddart, Hasbro interim chief executive officer. "Fans and consumers are increasingly interacting with brands in more ways than ever—our unique set of strategic assets across toys and games, entertainment, digital gaming and licensing provide the foundation for maximizing the value of both our existing franchises and new IP.

"It has been an honor to lead this talented team over the past several months and I am confident that Chris Cocks will bring tremendous vision and passion while accelerating our performance-driven culture as he takes over as CEO on February 25th," continued Stoddart.

"Throughout 2021, and finishing with focused execution in the fourth quarter, the Hasbro team did an excellent job in unprecedented circumstances," said Deborah Thomas, Hasbro chief financial officer. "We delivered strong results, including 17% revenue growth for the year, higher operating profit margins and $818 million in operating cash flow, while successfully navigating supply chain challenges, including higher fourth quarter input and freight costs across our business. This enabled us to continue investing in growth initiatives, pay off $1.08 billion in long-term debt in 2021 and continue supporting our dividend which the Board increased 3% today.

"Long-term investments in our brands and capabilities have built a differentiated business with diversified capabilities to drive long-term profitable growth and enhance shareholder value," continued Thomas.

Full-Year 2021

Net revenues increased 17% to $6.42 billion
- Entertainment segment revenues up 27%
- Consumer Products segment revenues up 9%
Operating profit of $763.3 million, or 11.9% of revenue, up from 9.2% of revenue in 2020
Adjusted operating profit up 20% to $995.2 million, or 15.5% of revenue, an expansion of 40 basis points year-over-year
Net earnings increased 93% to $428.7 million, or $3.10 per diluted share
Adjusted net earnings increased 41% to $723.4 million, or $5.23 per diluted share
EBITDA up 32% to $1.04 billion
Adjusted EBITDA up 23% to $1.31 billion
Year-end cash of $1.02 billion; Generated $817.9 million in operating cash flow for the full-year 2021 and paid down $1.08 billion in long-term debt

Fourth Quarter 2021

Net revenues increased 17% to $2.01 billion
- Wizards of the Coast and Digital Gaming segment revenues up 18%
- Consumer Products segment revenues up 9%
Operating profit for the fourth quarter of $171.5 million, or 8.5% of revenues
Adjusted operating profit of $219.9 million, or 10.9% of revenues
Net earnings for the fourth quarter of $82.2 million, or $0.59 per diluted share
Adjusted net earnings of $168.4 million, or $1.21 per diluted share
EBITDA of $203.9 million
Adjusted EBITDA of $306.5 million

New Transformers Sleep Story Launches on Calm

Date: Thursday, February 3rd 2022 7:18pm CST
Categories: Press Releases, Digital Media News
Posted by: D-Maximal_Primal | Credit(s): Hasbro

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NEW TRANSFORMERS SLEEP STORY

LAUNCHES ON CALM

Calm debuts an all-new TRANSFORMERS Sleep Story for kids and adults alike, featuring Peter Cullen as the legendary voice of OPTIMUS PRIME

This week, TRANSFORMERS launches into a new medium, inviting kids and adults to experience an original Sleep Story with Calm, the leading mental wellness brand with the #1 app for sleep, meditation and relaxation. Available now, Peter Cullen returns to voice OPTIMUS PRIME in a relaxing Sleep Story, History of the Transformers.
This never-before-heard TRANSFORMERS story tells the history of the Autobots and Decepticons, taking listeners deeper into the MORE THAN MEETS THE EYE themes of the iconic franchise, exploring bravery, leadership, friendship and STEM. "I am pleased to be bringing TRANSFORMERS to Calm Kids through an imaginative and adventurous bedtime story," said Peter Cullen. "I hope through this story that families and kids can get the sleep they need to conquer their days."
With sleep loss and sleep disorders more prevalent than ever, Calm helps listeners in over 190 countries manage stress, sleep better and live a happier, healthier life. In 2021, the app launched Calm Kids, a vertical of mental wellness content for kids and families. The TRANSFORMERS Calm Sleep Story will be available exclusively on Calm in the "Sleep" and "Kids" sections of the app.
Click here to discover the TRANSFORMERS Calm Sleep Story
Look out for an upcoming TRANSFORMERS themed Calm Meditation, narrated by Peter Cullen, launching on the app later this year.