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Research Alert: Wizards And Digital Gaming Continue To Fuel Growth At Hasbro

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

HAS delivered strong Q1 2026 results with revenue of $1,000.2M (+13% Y/Y), $34M above estimates, and adjusted operating profit of $287M (+29% Y/Y), demonstrating exceptional operating leverage from higher-margin businesses. The quarter was led by outstanding Wizards and Digital Gaming segment performance, growing 26% Y/Y to $582.0M with a robust 51.2% operating margin. We continue to be impressed with the growth and margins of the company's Magic franchise, which grew 36% Y/Y to $469.6M, fueled by successful releases, and it is encouraging that Consumer Products is showing signs of stabilization despite Q1 headwinds. Management maintained full-year 2026 guidance despite a contained cybersecurity incident, expecting revenue growth of 3%-5% at constant currency and adjusted operating margin of 24%-25%. We believe Hasbro's franchise-first strategy continues to generate top-line growth and margin expansion well above peers, with shares trading at an attractive 16x consensus 2026 EPS estimates.

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