Hasbro, Inc. (HAS) SEC Filings & Earnings Calls

Entertainment segment revenue decline year-to-date (-13%) due to timing of deals

“Year-to-date Entertainment revenue decline of 13%”

Unauthorized network access disruption mentioned in Consumer Products segment

“Consumer Products revenues increased 3% as Marvel, Star Wars, Beyblade, and KPop Demon Hunters more than offset disruptions from the previously disclosed unauthorized network access”

Digital games impairment of $56 million year-to-date

“Year-to-date figures include a $56 million impairment related to digital games”

Tariff cost pressure

“During the first three and six months of 2026, the Company recognized approximately $9.4 million and $17.7 million of tariff costs within Cost of sales, respectively.” · word for word

Cybersecurity incident risk

“The impacts of these system disruptions included order processing, shipping, and invoicing delays, resulting in a negative impact on net sales and operating profit during the second quarter, particularly within the Consumer Products segment.” · word for word

Digital games portfolio impairment

“a one-time $56.4 million non-cash impairment charge related to the Company's decision to refocus the Digital Games portfolio, which included the cancellation of certain titles scheduled for release in 2028 and beyond.” · word for word

Key segment leadership transition may cause short-term disruption in Wizards of the Coast operations

“President of Wizards of the Coast transitioning to advisor role; successor onboarding”

Unauthorized network access caused $11M direct expenses and ~$25M revenue impact in Q2; further costs expected.

“Direct incremental expenses related to the unauthorized access were $11 million during the three and six months ended June 28, 2026, and the revenue impact on the business was estimated at approximately $25 million.” · word for word

Digital Games portfolio impairment of $56 million reflects refocused strategy.

“Results include a $56 million impairment related to the Company's refocused Digital Games portfolio for 2028 and beyond.” · word for word

Unauthorized network access incident in late March 2026; costs being incurred in Q2 2026; full scope not yet determined.

“In late March 2026, we identified unauthorized access to our network. During the second quarter of 2026, we began incurring costs related to the unauthorized network access, including legal and remediation costs. The full scope of the costs and related impacts has not been determined.” · word for word

Tariff cost pressure

“During the first three months of 2026, the Company recognized approximately $8.3 million of tariff costs within Cost of sales.” · word for word

Cybersecurity incident operational disruption

“For the Consumer Products segment, we have been shipping product, but we do anticipate some impact to second quarter revenues and operating profit due to expected order processing, shipping and invoicing delays.” · word for word

Cybersecurity incident causing operational delays and potential Q2 revenue/profit impact.

“Unauthorized network access; systems taken offline; delays in financial reporting; anticipated Q2 revenue and operating profit impact due to order processing, shipping and invoicing delays.”

Tariff-induced goodwill impairment

“Non-cash goodwill impairment charge of $1,021.9 in 2025 within the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs.” · word for word

Consumer Products segment decline

“Consumer Products declined 4%” · word for word

Cybersecurity breach risk: unauthorized network access could lead to data loss, regulatory penalties, and business interruption.

“identified unauthorized access to the Company’s network... proactively taking certain systems offline... may result in some delays.” · word for word

Increased leverage with $400M in new senior unsecured notes; though likely for refinancing, total debt increases.

“Issuance of $400,000,000 aggregate principal amount of 4.650% notes due 2031.”

Tariff exposure

“The Company recognized approximately $44.9 million of tariff costs within Cost of sales during 2025.” · word for word

Goodwill impairment risk

“non-cash goodwill impairment of $1,021.9 million in the Consumer Products segment.” · word for word

Consumer Products demand decline

“Consumer Products segment net revenues decreased 4.2% in 2025 compared to 2024 primarily driven by reduced sales volumes, which was impacted by broader industry trends and tariff-related impacts to North America.” · word for word

Covenant requirements: interest coverage ratio >= 3.00x, leverage ratio <= 3.75x (4.00x in Q3)

“Consolidated Interest Coverage Ratio of no less than 3.00:1.00... Consolidated Net Total Leverage Ratio of no more than 3.75:1.00” · word for word

Consumer Products segment declined 4% and adjusted operating profit down 26% due to lower revenues and tariff costs.

“Adjusted operating profit of $113 million, down 26% versus last year behind lower revenues and tariff costs.” · word for word

Entertainment segment revenue declined 4% with lower digital and ad revenues.

“Revenue decline of 4% driven by lower digital and ad revenues.” · word for word

Tariff Impact on COGS and Demand

“The Company has recognized approximately $20 million of tariff costs during the first nine months of 2025. ... the Company has estimated $60 million of expense in our full year 2025 financial statements.” · word for word

Consumer Products Segment Decline

“The Consumer Products segment net revenues decreased 7% to $796.9 million for the third quarter of 2025 compared to $860.1 million for the third quarter of 2024, primarily driven by broader industry trends and timing of retail orders.” · word for word

Goodwill Impairment Risk

“the Company assessed its goodwill for potential impairment, resulting in the recognition of a non-cash goodwill impairment of $1,021.9 million in the Consumer Products segment.” · word for word