What Happened?
Shares of toy and entertainment company Hasbro (NASDAQ:HAS) jumped 5.7% in the afternoon session after the company reported third-quarter 2026 results with a fourth straight quarter of double-digit revenue growth, raised full-year guidance, and doubled its share-repurchase target. According to a company press release, Hasbro posted revenue of $1.60 billion, up 15% year over year, and adjusted EPS of $2.90, beating Wall Street expectations of about $1.48 billion and $1.85. Adjusted operating profit rose 52% to $541 million, aided by mix, cost productivity, and about $55 million in tariff refunds. Magic: The Gathering topped $600 million in quarterly revenue for the first time, rising 34% and helping Wizards and Digital Gaming grow 31%, with The Hobbit and Reality Fracture cited as key drivers. Consumer Products rose 4% on Marvel, KPop Demon Hunters, and Transformers, while Entertainment increased 9% on Family Brands strength. Management raised full-year adjusted EBITDA guidance to 1.575–1.625 billion from 1.45–1.50 billion and doubled the 2026 buyback target to $400 million, reinforcing confidence after the company returned $206 million to shareholders in the quarter.
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What Is The Market Telling Us
Hasbro’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 3 months ago when the stock gained 6.7% on the news that the company reported strong second-quarter financial results that beat Wall Street expectations across the board. Hasbro posted net revenues of $1.14 billion, up 16% year-over-year and surpassing analysts' consensus estimates. The top-line momentum was largely driven by robust 27% growth in its Wizards of the Coast and Digital Gaming segment. The company's profitability also shined, with an adjusted diluted EPS of $1.28 comfortably beating the consensus estimate of $1.17. A key highlight was the significant improvement in operational efficiency, with the company's operating margin soaring to 22.2%, a stark turnaround from the -81.4% reported in the same quarter last year. Reflecting this momentum, management raised its full-year 2026 outlook reinforcing investor confidence in the company's ongoing strategic turnaround.
Hasbro is up 27.8% since the beginning of the year, and at $106.03 per share, it has set a new 52-week high. Investors who bought $1,000 worth of Hasbro’s shares 5 years ago would now be looking at an investment worth $1,165.
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