3 Things That Helped Hasbro Beat the Odds on Q4 Earnings
Things didn't look very promising going into Hasbro's (NASDAQ: HAS) fourth quarter. The on-again, off-again trade tariffs disrupted inventory purchases leading up to the all-important holiday shopping season, as major retailers sought to cancel or delay orders to avoid the levies. With a whopping 85% of its toys manufactured in China, Hasbro was at the mercy of the U.S.-China trade war. Luckily, things turned out better than many expected.
In its earnings release this week, Hasbro reported net revenue of $1.43 billion, up 3% year over year. Adjusted net income was $164.8 million, resulting in earnings per diluted share of $1.24, excluding a one-time gain. In all, revenue was roughly in line with analysts' consensus estimates, while profits came in better than expected.
Let's look at three of the contributing factors that helped Hasbro beat the odds to close out 2019.
Source Fool.com
