Research Desk Line-up: JAKKS Pacific Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Hasbro, Inc. (NASDAQ: HAS), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=HAS, following the Company's release of its second quarter fiscal 2017 earnings results on July 24, 2017. The No. 2 US toymaker outperformed earnings estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the industry. Pro-TD has currently selected JAKKS Pacific, Inc. (NASDAQ: JAKK) for due-diligence and potential coverage as the Company reported on July 25, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on JAKKS Pacific when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HAS; also brushing on JAKK. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=HAS
http://protraderdaily.com/optin/'symbol=JAKK
Earnings Reviewed
For the quarter ended July 02, 2017, Hasbro's net revenues increased 11% to $972.5 million versus $878.9 million in Q2 2016. The Company's revenue numbers fell marginally short of analysts' expectations of $973 million.
For Q2 2017, Hasbro reported Selling, Distribution, and Administration expenses (SD&A) of $256.90 million compared to $238.64 million in Q2 2016. The Company's operating profit for the reported quarter totaled $99.98 million, or 10.3% of revenue, compared to $84.87 million, or 9.7% of revenue, in the prior year's same quarter.
Hasbro's net earnings for Q2 2017 surged 30% to $67.7 million, or $0.53 per diluted share, compared to $52.1 million, or $0.41 per diluted share, in 2016. The Pawtucket, Rhode Island-based Company's reported net earnings included a $0.01 per diluted share benefit from the adoption of FASB ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. Hasbro's earnings numbers exceeded Wall Street's estimates of $0.46 per share.
Segment Results
During Q2 2017, Hasbro's US and Canada segment's net revenues increased 16% to $494.4 million compared to $425.9 million in Q2 2016. The Company's revenues grew in Franchise Brands, Partner Brands, and Hasbro Gaming, but declined in Emerging Brands. The US and Canada segment's operating profit soared 41% to $81.6 million, or 16.5% of net revenues, in the reported quarter versus $58.0 million, or 13.6% of net revenues, in the prior year's comparable quarter.
Hasbro's International segment's net revenues increased 6% to $426.6 million compared with revenue of $401.1 million in Q2 2016. The International segment's revenues included a favorable $2.4 million impact of foreign exchange. Revenue growth in Franchise Brands and Hasbro Gaming offset declines in Partner Brands and Emerging Brands. On a regional basis, Europe revenues increased 4%, Latin America increased 3%, and Asia/Pacific increased 18% compared to their respective year ago performance. International segment's operating profit decreased 43% to $16.9 million, or 4.0% of net revenues, compared to $29.7 million, or 7.4% of net revenues, in the year ago corresponding period.
During Q2 2017, Hasbro's Entertainment and Licensing segment's net revenues fell 1% to $51.5 million compared to $51.9 million in Q2 2016. Growth in digital gaming, led by Backflip Studios, was offset by declines in entertainment revenues. The Entertainment and Licensing segment's operating profit dropped 18% to $11.3 million, or 22.0% of net revenues, compared to $13.8 million, or 26.6% of net revenues, in the year earlier same quarter.
Dividend and Share Repurchase
As of July 02, 2017, Hasbro's cash and cash equivalents totaled $1.43 billion compared to $924.10 million as on June 26, 2016. The Company's long-term debt at the end of the reported quarter was $1.20 billion. During Q2 2017, Hasbro generated cash flow from operating activities worth $366.11 million compared to $305.94 million in Q2 2016.
During Q2 2017, Hasbro paid $71.3 million in cash dividends to shareholders. The Company's next quarterly cash dividend payment of $0.57 per common share is scheduled for August 15, 2017, to shareholders of record at the close of business on August 01, 2017.
In Q2 2017, Hasbro repurchased 6,100 shares of common stock at a total cost of $0.6 million and an average price of $94.99 per share. At quarter-end, $309.4 million remained available in the current share repurchase authorization.
Stock Performance
Hasbro's share price finished last Friday's trading session at $105.74, slightly sliding 0.84%. A total volume of 1.31 million shares have exchanged hands, which was higher than the 3-month average volume of 891.90 thousand shares. The Company's stock price soared 6.69% in the last three months, 28.03% in the past six months, and 30.56% in the previous twelve months. Additionally, the stock skyrocketed 35.93% since the start of the year. Shares of the Company have a PE ratio of 22.85 and have a dividend yield of 2.16%. The stock currently has a market cap of $13.33 billion.
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