Hasbro 2Q 2017 earnings and Halliburton 2Q 2017 earnings were released before opening bell this morning. Hasbro posted net earnings of 53 cents per share on $972.5 million in sales. Wall Street had been looking for 45 cents per share and $974.2 million in revenue. In last year’s second quarter, the toymaker reported 41 cents per share in adjusted earnings on $878.9 million in revenue.
Halliburton reported adjusted earnings of 23 cents per share on $4.96 billion in revenue, compared the consensus estimates of 18 cents per share and $4.86 billion in revenue. In last year’s second quarter, the firm reported $3.84 billion in revenue. This year’s adjusted earnings exclude non-recurring items, including a fair market value adjustment on the expected promissory note in Venezuela. However, it includes 4 cents per share from litigation settlements and on-time charges for executive compensation.
Hasbro 2Q 2017 earnings
Hasbro’s 2Q 2017 earnings for this year include a charge of 1 cent per share due to improvements to its Employee Share-Based Payment Accounting, while last year’s net earnings did not include this charge. The company reported a 16% increase in U.S. and Canada sales and a 6% increase in the International segment. Entertainment and Licensing revenues ticked lower by 1% year over year.
The toymaker’s Franchise brand revenues rose 21% year over year to $545.7 million as its Transformers, Magic: The Gathering, Nerf, and Monopoly drove that increase. Partner Brand revenues rose 1% to $230 million as Beyblade, Dreamworks’ Trolls, Marvel and Disney Princess recorded growth. Hasbro added that the Star Wars brand is well-positioned going into the September 1 launch of new merchandise for Star Wars: The Last Jedi. The Marvel entertainment slate is also set to rev up with new content in the second half of the year, which sets up the company’s Marvel toys.
Hasbro Gaming revenue increased 5% to $133.9 million on the back of growth across the company’s product portfolio in the segment. Emerging Brands revenue fell 14% to $62.9 million as Playskool, Super Soaker and Easy-Bake Oven sales drove the decline.
Following the Hasbro 2Q 2017 earnings report, the company’s shares plunged, falling by as much as 6% to $108.99 in premarket trading.
Halliburton 2Q 2017 earnings
Halliburton swung to a GAAP profit of 3 cents per share from losses of $3.73 per share in last year’s second quarter. Revenue from the company’s Completion and Production division surged 20% year over year on the back of a 700-basis-point increase in operating margins. Revenue growth in the Drilling and Evaluation segment was “modest” as the overall market continues to move sideways as prices remain pressured.
After the Halliburton 2Q 2017 earnings report, the company’s shares jumped by as much as 3.65% to $46 in premarket trading.