The 2018 financial results for Hasbro have been officially announced today. If you are interested in this sort of thing from the standpoint of a Star Wars collector or from a larger all-encompassing view of the company, check out the intro to their financial report copied below and then point your browser here for more details.
Hasbro, Inc. (NASDAQ: HAS) today reported financial results for the full-year and fourth quarter 2018. Net revenues for the full-year 2018 decreased 12% to $4.58 billion versus $5.21 billion in 2017. The lower revenues reflect lost Toys“R”Us revenues throughout 2018 in the U.S., Europe and Asia Pacific, as well as a more meaningful impact than expected from the liquidation of Toys“R”Us inventory into these markets. In addition, revenues declined internationally, most notably in Europe where the Company addressed changing consumer shopping behaviors, a rapidly evolving retail landscape and reduced retail inventory, amidst challenging economies in key markets, notably the U.K. 2018 net revenues also include an unfavorable $43.0 million impact from foreign exchange.
As reported net earnings for the full-year 2018 were $220.4 million, or $1.74 per diluted share, compared to $396.6 million, or $3.12 per diluted share, in 2017. Adjusted 2018 net earnings were $488.8 million, or $3.85 per diluted share, excluding after-tax charges of $268.4 million, or $2.11 per diluted share. Adjusted 2017 net earnings were $693.1 million, or $5.46 per diluted share, excluding a $296.5 million, or $2.33 per diluted share, impact from U.S. tax reform.