https://investor.hasbro.com/news-releases/news-release-details/hasbro-reports-fourth-quarter-and-full-year-2023-financialFull Year 2023 Highlights
Full year Hasbro, Inc. revenue declined 15% with growth in the Wizards of the Coast and Digital Gaming segment (+10%) more than offset by declines in the Consumer Products segment (-19%) and Entertainment segment (-31%)
Operating loss of $1,539 million includes $1.3 billion of non-cash goodwill and intangible asset impairment charges associated with eOne film and TV, a change in outlook for the balance of our owned and operated production efforts and non-recurring inventory costs
Adjusted operating profit of $477 million and adjusted operating margin of 9.5%, including non-recurring inventory costs
Reported Net loss of $10.73 per share; adjusted net earnings of $2.51 per diluted share
Delivered approximately $220 million of gross savings in 2023 as part of the Operational Excellence program
Reduced owned inventory by 51% versus last year, including a 56% decline in Consumer Products inventory
Completed sale of eOne Film and TV business to Lionsgate in December 2023
Paid $388 million in cash dividends to shareholders for the full year 2023 and reduced debt by $506 million
Operating cash flow of $726 million positively impacted by working capital improvements.
