Highlights

  • Third quarter revenue rose 15% to $1,595.3 million, and GAAP diluted earnings per share were $2.77 versus $1.64.
  • Magic: The Gathering revenue grew 34% to $616.1 million, the brand's first quarter above $600 million.
  • Hasbro raised 2026 guidance to 7% to 9% constant-currency revenue growth and adjusted EBITDA of $1.575 billion to $1.625 billion.
  • The share repurchase target for 2026 doubled to $400 million, and a $0.70 quarterly dividend was declared.

Hasbro (NASDAQ:HAS) shares were trading near their 52-week high at USD 111.37 on October 21, 2026, up 1.69%. The games, intellectual property and toy company reported results for the quarter ended September 27, 2026 on October 20, raising its full-year outlook and doubling its repurchase target for the year.

Based in Pawtucket, Rhode Island, Hasbro is a Rhode Island corporation that describes itself as a games, IP and toy company with 165 years of expertise. Its portfolio includes Magic: The Gathering, Dungeons & Dragons, Monopoly, Nerf, Transformers and Play-Doh. It reports three segments: Wizards of the Coast and Digital Gaming; Consumer Products, which includes toys, games and licensed products; and Entertainment, which includes family brands, film and television.

Third Quarter Growth Led by Magic and Wider Margins

Net revenues were $1,595.3 million, up 15% from $1,387.5 million, including licensing revenue of $144.3 million. GAAP operating profit rose to $517.3 million from $341.1 million. Non-GAAP adjusted operating profit was $541.2 million, up 52%. Net earnings attributable to Hasbro were $394.5 million, or $2.77 per diluted share, against $233.2 million, or $1.64. Non-GAAP adjusted earnings per share were $2.90. Results included about $55 million of tariff refunds.

Wizards of the Coast and Digital Gaming revenue grew 31% to $747.2 million, with operating profit up 46% to $367.4 million. Tabletop gaming rose 39% to $613.1 million on The Hobbit and Reality Fracture sets, while digital and licensed gaming grew 3% to $134.1 million, including $41 million from Monopoly Go!. Management said about $40 million of Magic sales expected in the fourth quarter landed in the third.

Consumer Products revenue rose 4% to $827.9 million, led by Marvel, KPop Demon Hunters and Transformers, and operating profit reached $173.8 million versus $80.1 million, including a $48 million tariff refund benefit.

Nine-Month Results, Cash and Capital Returns

For the first nine months, revenue was $3,735.1 million, up 15%, and net earnings attributable to Hasbro were $753.8 million, or $5.27 per diluted share, compared with a loss of $524.0 million a year earlier that included a $1,021.9 million goodwill impairment. The period also carried a $56 million digital games impairment, nearly offset by the tariff refunds. Operating cash flow was $907.3 million versus $490.0 million.

Hasbro held $850.7 million of cash and $576.2 million of short-term investments at quarter end. Long-term debt was $2,616.4 million, plus an $893.9 million current portion, which management said the short-term investments are matched against for a November 2026 maturity. The company put $79 million toward debt reduction in the quarter and $226 million year to date. It returned $206 million to shareholders in the quarter and $445 million year to date, including $149.3 million of share repurchases. The board declared a $0.70 quarterly dividend payable December 2, 2026 to holders of record on November 18.

Hasbro also cited unauthorized network access identified in late March 2026, with about $11.8 million of related costs excluded from adjusted results year to date.

Raised 2026 Outlook and Fourth Quarter Cautions

Hasbro now expects 2026 revenue up 7% to 9% in constant currency, previously 5% to 7%; adjusted operating margin of 27% to 28%, previously 25% to 26%; and adjusted EBITDA of $1.575 billion to $1.625 billion, previously $1.45 billion to $1.50 billion. The adjusted measures are non-GAAP and these are company estimates. On the call, management guided Wizards revenue up 16% to 18%, Consumer Products up 1% to 3% and Entertainment up 3% to 5%.

Management also raised its 2026 repurchase target from $200 million to $400 million. It cautioned that fourth quarter Magic revenue will likely be lower on shipment timing, that Consumer Products margin will step down sequentially after the refunds, and that the quarter carries about $15 million of video game marketing. It is not giving 2027 guidance, but expects the Exodus game on April 7, 2027 and Warlock in 2027, with related amortization keeping Wizards margins in the high 30s.