Hasbro Lifts Annual Outlook Following Third-Quarter Beat; Shares Rise

01:42 PM EDT, 10/20/2026 (MT Newswires) -- Hasbro (HAS) shares jumped Tuesday after the toymaker upgraded its full-year outlook on the back of a third-quarter beat, boosted by rising demand for its gaming portfolio. The company now expects 2026 revenue to increase between 7% and 9% in constant currency, up from its previous growth outlook range of 5% to 7%. The FactSet-polled consensus is for 7.7% growth. Hasbro now projects adjusted earnings before interest, taxes, depreciation, and amortization between $1.58 billion and $1.63 billion for the year, compared with its prior guidance range of $1.45 billion to $1.50 billion. For the quarter through Sept. 27, net revenue surged 15% year over year to about $1.6 billion, topping Wall Street's estimate of $1.48 billion. Adjusted earnings rose to $2.90 a share from $1.68 a year earlier, also exceeding the Street's $1.86 views. The results included about $55 million of tariff refunds, according to the company. "We delivered a fourth consecutive quarter of double-digit revenue growth, and Magic: The Gathering topped $600 million in quarterly revenue for the first time," Hasbro Chief Executive Chris Cocks said in an earnings release. "With a Magic lineup that keeps building, we expect a strong finish to 2026 and continued growth in 2027." The company's shares were up 9.3% in afternoon trade, bringing its year-to-date gains to 31%. Sales for the Wizards of the Coast and digital gaming segment jumped 31% to $747.2 million, with tabletop gaming increasing 39% to $613.1 million. The digital and licensed gaming business' revenue rose 3% while the entertainment segment saw a 9% rise, with growth in family brands slightly offset by a decline in film and television. Hasbro is now targeting $400 million in share repurchases for the year, up from its prior outlook of $200 million, Chief Financial Officer and Chief Operating Officer Gina Goetter said on an earnings call, according to a transcript posted on the company's website. "The broader operating environment remains dynamic," Goetter told analysts. "The oil-related input costs we flagged earlier in the year are now flowing through the (profit and loss), and the mitigation playbook we built is helping to offset that pressure." Earlier this month, UBS Securities said it expected Hasbro to deliver a "solid beat" versus its outlook for the third quarter, anchored by a double-digit percentage Wizard segment growth. Fellow toymaker Mattel (MAT) is scheduled to report third-quarter earnings Nov. 5. Price: 106.07, Change: +7.58, Percent Change: +7.70