| HAS |
Report |
Wizards & Digital Gaming revenue |
BEAT |
pred ~$625M vs. cons $597M |
MEDIUM |
| HAS |
Report |
Total net revenue |
BEAT |
pred ~$1.08B vs. cons $1.06B |
MEDIUM |
| HAS |
Report |
Adjusted EPS |
BEAT |
pred ~$1.52 vs. cons ~$1.40 |
MEDIUM |
| HAS |
Guide |
FY2026 revenue growth (constant-currency) — reiterate vs raise |
UNCHANGED |
guide ~+3-5% cc vs. cons ~+5% (FY2026) |
MEDIUM |
| HAS |
Guide |
FY2026 adjusted EBITDA — the real event (raise would validate bull case) |
UNCHANGED |
guide ~$1.40-1.45B reiterated vs. cons ~$1.43B (FY2026) |
MEDIUM |
| HAS |
Guide |
FY2026 adjusted operating margin |
UNCHANGED |
guide ~24-25% vs. cons ~24.5% (FY2026) |
MEDIUM |
| HAS |
Guide |
Consumer Products revenue (cyber shifts ~$40-60M out of Q2) |
LOWER |
guide Q2 CP low-single-digit ~$450M vs. cons $448M, with double-digit growth pushed to Q3 (Q2/Q3 2026) |
MEDIUM |
| HAS |
Return |
Day-1 residual (stock − beta × S&P 500) |
+2.5% |
— |
LOW |
| HAS |
Return |
5-day cumulative residual |
+1.0% (FADE) |
A MAGIC-driven Wizards/EPS beat into a stock already de-rated ~23% from its Feb high (and sold from ~$97 to mid-$70s post-Q1) should spark a relief pop day 1. But out-period math caps follow-through: cyber only shifts CP revenue into Q3 (timing, not upside), oil/freight costs hit H2, Q4 is a tough MAGIC comp that could be down, and a guidance reiteration despite the obvious beat implies flat-to-down H2 revisions. Weak reported operating cash flow and soft CP optics give bears cover, so the initial gain partially fades over the week. |
LOW |