Revenue increased 9% excluding a negative $19.1 million impact of foreign exchange, $14.9 million of which was in Europe. Second Quarter 2022 Major Segment PerformanceġReconciliations are included in the attached schedules under the heading "Reconciliation of Adjusted Operating Profit" and "Reconciliation of EBITDA and Adjusted EBITDA."Ĭonsumer Products segment revenues increased 7%.
We successfully closed an acquisition supporting a key growing brand, returned cash to shareholders through dividends and share repurchases and anticipate higher operating cash generation in the second half of the year as our major new innovations and entertainment-driven initiatives come to market."Īdjusted Net Earnings per Diluted Share 2ġForeign exchange had a negative $32.7 million impact, or 3%, on second quarter 2022 revenueĢSee the financial tables accompanying this press release for a reconciliation of GAAP and non-GAAP financial measures. "Foreign exchange is impacting our top line revenue growth, but our teams are executing well to meet demand and drive profit. "In the first half of the year, we took significant steps to secure inventory to help ensure product availability for upcoming product launches, major entertainment releases and the holiday season," said Deborah Thomas, Hasbro chief financial officer. Backed by Hasbro's unmatched portfolio of brands and brand-building capabilities, we have confidence in the strength of our initiatives for the second half and we are positioned to deliver profitable growth and long-term shareholder returns."
"Our teams are driving focus and scale in gaming, multi-generational brands and direct to consumer. "We are making significant progress in our strategic plan review and are identifying and realizing cost savings across the business," continued Cocks.
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We also significantly enhanced our digital play and direct-to-fan capabilities with the acquisition of D&D Beyond which will serve as an important growth driver for Hasbro's industry leading fantasy gaming portfolio. "Wizards of the Coast turned in its biggest quarter ever, led by 15% growth in tabletop gaming and 11% growth in MAGIC: THE GATHERING across platforms. "The Hasbro team delivered strong second quarter results, driving mid-single digit revenue growth absent foreign exchange and 200 basis points of adjusted operating margin expansion," said Chris Cocks, Hasbro chief executive officer. HAS, a global play and entertainment company, today reported financial results for the second quarter 2022, including growth in revenues, operating profit, net earnings and EBITDA. Repurchased $124.0 million of Hasbro common stock Paid $97.4 million in dividends to shareholders during the quarter Paid $146.3 million for D&D Beyond, a strategic, complementary acquisition that accelerates direct-to-fans capability for Dungeons & Dragons in physical and digital play
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