Hasbro (HAS) official guidance

•Adjusted EBITDA of $1.575 billion to $1.625 billion (previously $1.45 billion to $1.50 billion)

We are raising adjusted operating margins to 25%-26% and adjusted EBITDA in the range of $1.45 billion to $1.5 billion.

•Adjusted EBITDA of $1.45 billion to $1.50 billion (previously $1.40 billion to $1.45 billion)

We expect adjusted operating margins of 24% to 25% and adjusted EBITDA in the range of $1.4 billion to $1.45 billion.

•Adjusted EBITDA of $1.40 billion to $1.45 billion.

•Adjusted EBITDA of $1.40 billion to $1.45 billion

We expect adjusted EBITDA to be in the range of $1.4 billion-$1.45 billion.

•Adjusted EBITDA of $1.40 billion to $1.45 billion.

For consumer products, we continue to expect revenue to grow low single digits for the year, with adjusted operating margin in the 6%-8% range.

Consumer Products is expected to grow low single digits for the year with adjusted operating margins in the 6% to 8% range.

Entertainment segment revenue is expected to be slightly positive year-over-year, with operating margins of approximately 50%.

Entertainment segment revenue is expected to be slightly positive year-over-year with operating margins of approximately 50%.

Entertainment revenue is expected to be slightly positive year-over-year, with operating margins of approximately 50%, reflecting the asset-led nature of the business and continued discipline around investment.

At the segment level, Wizards is now expected to grow revenue in the low double-digit range, with operating margins continuing in the low 40% range as volume growth more than offsets the impact of higher royalties, the digital game impairments, and operating expense.

At the segment level, Wizards is on track to deliver mid-single-digit revenue growth with operating margins in the low 40% range.

Operating margins are expected to remain in the low 40% range, reflecting the underlying strength of the business while absorbing higher royalty expense and incremental costs associated with our planned 2027 video game releases, Exodus, and Warlock.

As we look forward into 2027, we continue to expect that Wizards operating margins will remain in the high 30%-40% range, inclusive of the video game releases and amortization expense.

For consumer products, we continue to expect revenue to grow low single digits for the year, with adjusted operating margin in the 6%-8% range.

Consumer Products is expected to grow low single digits for the year with adjusted operating margins in the 6% to 8% range.

In Consumer Products, we delivered another quarter of growth in our toy and game business, and remain on track to grow the entire segment for the full year 2026.

In consumer products, we expect revenue to grow low single digits year-over-year, with operating profit margins in the 6%-8% range.

On the CP business, the pivot that we're making here is we are moving into continued growth in Q3, Q4. Each of those quarters is kind of sized the same way, call it up low single digits.

Entertainment segment revenue is expected to be slightly positive year-over-year, with operating margins of approximately 50%.

Entertainment segment revenue is expected to be slightly positive year-over-year with operating margins of approximately 50%.

Entertainment revenue is expected to be slightly positive year-over-year, with operating margins of approximately 50%, reflecting the asset-led nature of the business and continued discipline around investment.

It really factors in that in total, Magic is going to be, call it, up kind of low single digits, which is comprised of a Q3 that is up mid-single digits and a Q4 that is down low single digits.

At the segment level, Wizards is now expected to grow revenue in the low double-digit range, with operating margins continuing in the low 40% range as volume growth more than offsets the impact of higher royalties, the digital game impairments, and operating expense.

At the segment level, Wizards is on track to deliver mid-single-digit revenue growth with operating margins in the low 40% range.

At the segment level, Wizards is expected to deliver mid-single-digit revenue growth, supported by a healthy release cadence and continued engagement across the Magic ecosystem.

We now expect consolidated revenue to grow 5%-7% year-over-year on a constant currency basis, with growth across each segment.

We continue to expect consolidated revenue to grow 3% to 5% year-over-year on a constant currency basis, with growth planned across each segment.

Turning now to guidance, we expect Hasbro consolidated revenue to grow between 3% and 5% YoY on a constant currency basis, with growth across each of our segments.

Based on the underlying strength in our cash flow, we are increasing our share repurchase target for the year from $100 million to a minimum of $200 million, we remain committed to our dividend.

We are raising adjusted operating margins to 25%-26% and adjusted EBITDA in the range of $1.45 billion to $1.5 billion.

•Adjusted operating margin of 25-26% (previously 24-25%)

We expect adjusted operating margins of 24% to 25% and adjusted EBITDA in the range of $1.4 billion to $1.45 billion.

•Adjusted operating margin of 24-25%.

•Adjusted operating margin of 24%-25%

•Adjusted operating margin of 24%-25%.

•Total Hasbro revenue up 5-7% in constant currency (previously up 3-5% in constant currency)

•Total Hasbro revenue up 3-5% in constant currency.

•Total Hasbro revenue +3%-5% in constant currency

•Total Hasbro revenue up 3%-5% in constant currency.