Hasbro misses by $0.23, misses on revs
- Reports Q1 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.23 worse thanthe Capital IQ Consensus of $0.33; revenues fell 15.7% year/year to $716.3 mln vs the $816 mln Capital IQ Consensus.
- "Our underlying financial strength is sound, and despite the near-term challenges associated with a major customer liquidation, Hasbro is positioned to manage a challenging 2018 and drive growth in 2019 and beyond....The quarter's revenue and profits were negatively impacted by lower revenues and higher expenses associated with events that do not reflect the health of our underlying business. We remain on track to meet our goal of generating $600 to $700 million in operating cash flow this year while investing to build our brands, transform our organization and return cash to shareholders."
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