Hasbro, V.F. Beat on Earnings, Fall Short on Revenues
Hasbro Inc. (NASDAQ: HAS) and V.F. Corp. (NYSE: VFC) this morning reported a better-than-expected third-quarter profits, but each fell short of revenue projections.
The toy maker posted adjusted earnings per share (EPS) of $1.24 on revenues of $1.35 billion. In the same period a year ago, the company reported EPS of $1.27 on revenues of $1.38 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.20 and $1.38 billion in revenues.
Hasbro blamed unfavorable foreign exchange rates and weak sales in Europe and the Asia for the declining results.
The apparel maker posted earnings of $3.52 per share and sales of $3.12 billion. In the year-ago period, the company reported EPS of $2.87 on $2.75 billion in revenue. The Thomson Reuters consensus estimates called for EPS of $3.49 and revenue of $3.17 billion.
But V.F. raised its full-year EPS guidance to above the consensus estimate, and also raised its dividend 21%.
V.F. shares are down more than 5% in premarket trading to $157.50. Its 52-week range is $125.55 to $169.82. Hasbro shares are inactive in premarket trading but ended last week at $39.05 in a 52-week range of $31.51 to $39.98.