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Hasbro, Inc. (HAS) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 29, 2019

Hasbro Inc

CIK: 46080 Ticker: HAS


hasbrologo1.jpg
Exhibit 99.1
For Immediate Release

Hasbro Reports Third Quarter 2019 Financial Results
Third quarter 2019 revenues were $1.58 billion compared to $1.57 billion a year ago; Absent a negative $20.5 million impact of foreign exchange, third quarter 2019 revenues grew 2%
Revenues increased 20% in the Entertainment, Licensing and Digital segment; Revenues decreased 2% in the U.S. and Canada segment; Revenues were flat in the International segment, but increased 4% absent a negative $19.9 million impact of foreign exchange
Partner Brands revenue increased 40%; Franchise Brands revenue decreased 8%; Hasbro Gaming revenues decreased 17%; Emerging Brands revenue was flat
On August 22, Hasbro entered into an agreement to acquire Entertainment One (eOne) for approximately £3.3 billion; On October 17, eOne shareholders approved the transaction; The transaction, which remains subject to receipt of additional regulatory approvals and customary closing conditions, is anticipated to close in the fourth quarter 2019
Including a $20.9 million after-tax loss related to hedging part of the British Pound purchase price of eOne, net earnings were $212.9 million or $1.67 per diluted share; Excluding this loss, adjusted net earnings were $233.8 million, or $1.84 per diluted share
Quarter ending cash of $1.1 billion and operating cash flow of $389.6 million

Pawtucket, R.I., October 22, 2019
-- Hasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today reported financial results for the third quarter 2019. Net revenues for the third quarter 2019 were $1.58 billion versus $1.57 billion in 2018. Absent a negative $20.5 million impact of foreign exchange, third quarter 2019 revenues grew 2%.
During the third quarter 2019, Hasbro entered into a definitive agreement to acquire Entertainment One Ltd. (eOne) in an all-cash transaction valued at approximately £3.3 billion. As a result of hedging part of the British Pound purchase price of eOne, Hasbro recognized an after-tax foreign exchange loss of $20.9 million after-tax charge, or $0.16 per diluted share. Third quarter 2018 net earnings include a favorable $17.3 million, or $0.14 per diluted share, tax benefit from U.S. tax reform. Including these items in both periods, net earnings for the third quarter 2019 decreased to $212.9 million, or $1.67 per diluted share, versus $263.9 million, or $2.06 per diluted share, for the third quarter of 2018. Excluding the charges, third quarter 2019


The following information was filed by Hasbro Inc (HAS) on Tuesday, October 22, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hasbro Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Unaudited) Parenthetical
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Earnings (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholder's Equity
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Fair Values Of Undesignated Derivative Financial Instruments (Details)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Schedule Of Foreign Currency Forward Contracts Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Schedule Of Net Gains (Losses) On Cash Flow Hedges Activities (Details)
Derivative Financial Instruments - Summary Of Cash Flow Hedging Instruments (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of Earnings (Loss) Per Share (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments - Narrative (Details)
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Reconciliation Of Level 3 Fair Value (Details)
Fair Value Of Financial Instruments - Fair Value Hierarchy (Details)
Financial Instruments
Financial Instruments (Details)
Financial Instruments (Tables)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative (Details)
Other Comprehensive Earnings (Loss)
Other Comprehensive Earnings (Loss) (Tables)
Other Comprehensive Earnings (Loss) - Schedule Of Other Comprehensive Income (Loss) (Details)
Other Comprehensive Earnings (Loss) - Gains (Losses) On Derivative Instruments (Details)
Other Comprehensive Earnings (Loss) - Schedule Of Accumulated Other Comprehensive Earnings (Loss) (Details)
Pension And Postretirement Benefits
Pension And Postretirement Benefits (Tables)
Pension And Postretirement Benefits - Components Of Net Periodic Cost (Details)
Pension And Postretirement Benefits - Narrative (Details)
Restructuring Actions
Restructuring Actions (Tables)
Restructuring Actions - Narrative (Details)
Restructuring Actions - Schedule Of Restructuring And Related Costs (Details)
Revenue Recognition
Revenue Recognition - Contract Assets And Liabilities (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Net Revenues By Product Category (Details)
Segment Reporting - Net Revenues By Segment (Details)
Segment Reporting - Operating Profit (Loss) By Segments (Details)
Segment Reporting - Schedule Of International Segment Net Revenues By Major Geographic Region (Details)
Segment Reporting - Total Assets By Segments (Details)
Ticker: HAS
CIK: 46080
Form Type: 10-Q Quarterly Report
Accession Number: 0000046080-19-000112
Submitted to the SEC: Tue Oct 22 2019 12:41:24 PM EST
Accepted by the SEC: Tue Oct 22 2019
Period: Sunday, September 29, 2019
Industry: Games Toys And Childrens Vehicles No Dolls And Bicycles

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