Hasbro Beats on Q3, Raises 2026 Outlook and Doubles Buyback Target
HAS sits 48% above its 52-week low of $69.5 on elevated volume (2.1× avg).
Summary
Hasbro posted 15% Q3 revenue growth to $1.595B with Magic: The Gathering above $600M for the first time, raised its 2026 outlook, and doubled its share repurchase target.
Key Events · Earnings and Guidance · HAS
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Q3 Revenue Up 15% to $1.595B
Wizards and Digital Gaming rose 31% to $747.2M, Consumer Products 4% to $827.9M, Entertainment 9% to $20.2M. Magic: The Gathering revenue was $616.1M, up 34% and above $600M for the first time.
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Profit and EPS Jump
Operating profit was $517.3M (adjusted $541.2M, +52%) and diluted EPS was $2.77 reported / $2.90 adjusted, versus $1.64 a year ago. Results include about $55M of tariff refunds.
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2026 Guidance Raised Across the Board
Revenue now expected up 7-9% constant currency (from 5-7%), adjusted operating margin 27-28% (from 25-26%), and adjusted EBITDA $1.575-1.625B (from $1.45-1.50B).
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Buyback Target Doubled
The company doubled its 2026 share repurchase target after returning $206M in Q3 and $445M year-to-date through dividends and buybacks. A $0.70 quarterly dividend is payable December 2, 2026 to holders of record November 18, 2026.
Analysis · HAS · Manufacturing
Hasbro delivered a fourth straight quarter of double-digit growth, with Magic: The Gathering topping $600M in quarterly revenue for the first time ($616.1M, +34%). Revenue rose 15% to $1.595B and adjusted operating profit jumped 52% to $541.2M, helped by roughly $55M of tariff refunds. Management raised full-year guidance across the board — revenue to +7-9% constant currency, adjusted operating margin to 27-28%, and adjusted EBITDA to $1.575-1.625B — and doubled the 2026 share repurchase target, with $206M already returned in Q3. The main caveat is concentration: Wizards now drives the bulk of profit, so Magic's lineup execution carries outsized weight, and the tariff refunds are non-recurring. The stock sits near its 52-week high, so the raised outlook and larger buyback are the kind of confirmation that can extend the move rather than reset it.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 37.4% of the 952 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HAS was trading at $102.54 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $13.9B. The 52-week trading range was $69.50 to $106.98. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.