Hasbro, Inc. (NASDAQ:HAS) Q3 2024 Earnings Conference Call October 24, 2024 8:30 AM ET

Company Participants

Chris Cocks - CEO
Gina Goetter - EVP & CFO
Kern Kapoor - SVP, IR

Conference Call Participants

Drew Crum - Stifel
Megan Alexander - Morgan Stanley
Christopher Horvers - J.P. Morgan & Chase
Eric Handler - ROTH Capital
Alex Perry - Bank of America
Arpine Kocharyan - UBS
Sean Rooney - Citigroup
Kylie Cohu - Jefferies

Operator

Good morning, and welcome to Hasbro's Third Quarter 2024 Earnings Conference Call. At this time, all parties will be in a listen-only mode. [Operator Instructions]. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

At this time, I'd like to turn the call over to Kern Kapoor, Senior Vice President of Investor Relations. Please go ahead.

Kern Kapoor

Thank you and good morning, everyone. Joining me today are Chris Cocks, Hasbro's Chief Executive Officer, and Gina Goetter, Hasbro's Chief Financial Officer. Today, we’ll begin with Chris and Gina providing commentary on the company's performance, then we’ll take your questions. Our earnings release and presentation slides for today's call are posted on our investor website. The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures, which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the press release and presentation. Please note that whenever we discuss earnings per share or EPS, we are referring to earnings per diluted share.

Before we begin, I would like to remind you that during this call and the question-and-answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives, and similar matters. There are many factors that could cause actual results or events to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. These factors include those set forth in our annual report on Form 10-K, our most recent 10-Q, in today's press release, and in other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call.

I would now like to introduce Chris Cocks. Chris?

Chris Cocks

Thanks, Kern, and good morning. Q3 continued to demonstrate the bottom-line benefits of the structural and strategic changes we are making at Hasbro. Two of our strongest profit areas, games and licensing, outperformed, expanding operating profit margin for the third consecutive quarter. The dynamics we’re observing across Magic and D&D, in both analog and digital, reinforce our confidence in the long-term health of the brands. Our competitive advantage as an IP licensor is also gaining steam, as we see the staying power of Monopoly Go!, the resurgence of fan favorite brands like My Little Pony, and strong POS growth in our out-licensed toy portfolio.