Hasbro (HAS) investor relations material

Executive summary

• Achieved 14% year-over-year revenue growth in 2025, led by a 45% surge in Wizards of the Coast & Digital Gaming, with MAGIC: THE GATHERING posting record results and Q4 revenue up 31% year-over-year.

• Adjusted operating profit and EPS reached record levels, with Q4 adjusted operating profit up 180% to $315 million and full-year adjusted EPS at $5.54.

• Major new licensing deals and digital initiatives expanded global reach, with over 1 billion consumers engaged.

• AI adoption and operational excellence programs delivered significant productivity gains and cost savings.

• Announced a new $1 billion share repurchase program and declared a quarterly dividend of $0.70 per share.

Financial highlights

• Q4 2025 net revenue was $1.5 billion, up 31% year-over-year; adjusted operating profit was $315 million, up 180%, with a 21.8% margin.

• Full-year 2025 net revenue grew 14% to $4.7 billion; adjusted operating profit increased 36% to $1.14 billion, with a 24.2% margin.

• Adjusted EPS for the year was $5.54; adjusted EBITDA was $1.36 billion.

• Generated $893 million in operating cash flow and returned $393 million to shareholders via dividends.

• Reported a $1 billion non-cash goodwill impairment in Consumer Products, resulting in a net loss for the year.

Outlook and guidance

• 2026 consolidated revenue expected to grow 3%-5% year-over-year in constant currency, with growth across all segments.

• Operating margins projected at 24%-25%; adjusted EBITDA guidance of $1.4-$1.45 billion.

• Wizards segment to deliver mid-single-digit revenue growth; consumer products to grow low single digits; entertainment revenue slightly positive.

• $150 million in gross cost savings targeted for 2026; capex projected at ~$250 million.

• Share repurchases restarting with a new $1 billion program; continued focus on dividends and debt reduction.