Hasbro (HAS) 27 Jul 202020 Q2 Earnings call transcript

Good morning and welcome to the Hasbro second quarter 2020 earnings conference call. At this time, all parties will be in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star, zero on your telephone keypad. Today’s conference is being recorded.

objections, disconnect any this have you you at may time. If turn time, over I’d this the like At to call to Ms. Debbie Relations. President of Vice Hancock, Senior Investor ahead. go Please

Thank you everyone. and morning good

take Chief Brian Joining update morning Today on questions. and to commentary we your Brian response Hasbro’s Goldner, on Executive with Officer. Officer, the begin the then Deb Hasbro’s Chief me company’s Financial and are we COVID-XX an Chairman and this will the Thomas, Deb performance will and pandemic, providing company’s

Our website. and today’s adjustments our information earnings slides are call for non-GAAP measures. release and The presentation posted on and regarding presentation investor non-GAAP financial release press include

included today A EPS, release diluted and in these discuss will whenever share. measures adjusted presentation. non-GAAP Please call note reconciliation which discuss or to adjustments. GAAP earnings share that earnings per exclude to per is the Our of we we press certain measures referring are non-GAAP

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morning Thank thank Debbie. you joining today. Good everyone us for and you

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you community. on four Iiquidity, in the we a April: focused key grounding remain areas and demand, we principle, with As supply, shared

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billion $X.X of and line credit remains available accessible. revolving Our

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and Brian, you everyone. good morning Thank

have teams we’re global together As operating from XXXX a and Brian our strength. position of in come said,

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or will positioned and tax one-time impact will $XX.X The ability forma good $XX.X associated severance discussion to where continue be after expect million and have million returned. reflected and businesses economies season. the We with factors amortization, expenses, important outcome. and be acquisition-related for acquisition versus production and a exclude share $X.XX and EX of in amortization. ultimate be approach $X.XX share, keep and go-to-market of stores of our per XXXX In severance per holiday to expense product and reopening we our today them tax open both for film an earnings simplifying operations year’s our entertainment TV reported after adjusted and expenses My numbers, of pro or not

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begin I organization focus will community. We continue to liquidity. our supply, around and demand, with liquidity

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within covenants. are our financial We well

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is commentary. on Our next Brian’s demand. focus I’ll build

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at look let’s supply. Third,

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and experience each we community, and with for recognize uncertain focused operate we team’s a other teams safety, what what path a to great continue help period. in There support learnings we the As chart remain and this our provide and which on ingenuity very for operating. to our we’re how for are and years tremendous our close and wellbeing, They and company during our define communities job to resolve which will are do from health we challenging forward showing come. is

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Now I questions. happy take are and Brian your to

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you very much. Hi, thank

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a may delay - that, at in when revenue able XXXX transfer just episodes. into to we’re the we it’s to the delivering it. live action As look about a it’s think complete the and Particularly really actually delay as

Thank you very much.

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everyone. good morning Thanks,

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Thank you.

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have two. just I Thanks.

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it’s right. Yes, exactly

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plans we QX. have go our into consumer quite QX good and visibility So through demand to we robust and retailer are as

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the So always was QX good so substantial. a Magic, for QX quite again, in business. headwinds major year Magic the very It’s about were biggest last fact, we tracking We’d as described quarter feel headwind; last point, the well.

Brian. you thank Great,

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Hi Tami, good morning.

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