Earlier today, Hasbro held their Financial Call for the 3rd Quarter of 2019.
Unfortunately, Hasbro had a rough quarter with proposed sales tariffs to hit on the upcoming Holiday Season. Understandably, their stocks slightly declined; after enjoying a very good year before.
Nevertheless, Hasbro is happy to see revenue from Transformers: Bumblebee; which continued to pour throughout Q3.
“Program production amortization increased as we are now receiving revenue and amortizing the costs associated with Transformers: Bumblebee. Given the timing of expected revenues, we now expect fullyear program production cost amortization to be greater than historical levels but remain under 2.0% of total net revenues. Given a change in the expected timing of receipts on tax credits, we now expect full-year content spend of approximately $50-60 million.” stated Deb Thomas, Hasbro CFO.
Speaking to the press and investors, Hasbro CEO Brian Goldner stated the following:
“We see the power of storytelling in our brands. Transformers revenues were up on Bumblebee film-related revenue. Point of sale increased in the U.S. and revenues are up year-to-date, although shipments declined in the quarter with no feature film this year.”
You can check out an Inforgraphic of Hasbro’s results, after the jump.