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Analyst
Arpiné Kocharyan
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 13on tracked calls
- Challenge rate
- 0%none of 13 questions
- Companies
- 1questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 13 of 13 questions from 1 company
HASHasbro13 questions · 7 reporting periods · 0 of 13 challenging
Calendar 2026 Q2
what does the midpoint or the low end of guidance range sort of factor in?
Show response
Goetter attributed back-half conservatism to holiday-season uncertainty in Consumer Products; Wizards is less holiday- and macro-dependent.
Calendar 2026 Q1
would it be possible at all to give us a sense of how much of Q1 outperformance was driven by Ninja Turtles
Show response
Cocks deflected the specific breakdown but said TMNT met or beat expectations. Emphasized that Lorwyn Eclipsed was the real outperformer, and Secrets of Strixhaven already handily beat Lorwyn.
maybe this is a bigger picture question on Magic Arena. I think Arena is sub 10%, 15% of the business today
Show response
Cocks explained Arena was designed for standard format but Magic growth has been driven by collectibility and social Commander play. Future digital iterations will lean into collectibility, tradability, and multiplayer.
Calendar 2025 Q4
I was wondering if you could talk a little bit about overall top-line growth puts and takes and specifically what will result in the lower end of that range and what needs to happen for upper end o...
Show response
Cocks cited three factors: supply chain ability to chase (Magic was rate-constrained in 2025), entertainment slate performance (Disney films as over/under), and consumer strength (top 20% robust, lower quintiles pinched, tax refunds as variable).
could you maybe talk about the pipeline of IP that you are looking at that you think sort of lend itself well into digital gaming and what those opportunities could mean for Hasbro for 2026 and 2027.
Show response
Cocks cited Monopoly Go, Sorry World, and self-published Exodus/Warlock as 2027 tests. New JV with Sabre plus more partnerships coming. Investing in Montreal and Eastern European talent at fraction of US cost for better margins over time.
Calendar 2025 Q3
There is a bit of concern how you lap that next year.
Show response
Cocks noted more sets next year (7 vs 6.5), record backlist continuing to rise, and Universes Beyond working on every metric. Goetter confirmed ~$50-60M royalty in back half, total $80M step-up YoY.
What do you think is driving this acceleration in retail POS for you and for the industry?
Show response
Cocks cited product-specific factors: GI JOE supply catch-up, innovation (Nano-mals, DJ Furby), and strong content (Marvel, Transformers). 7-8 weeks of acceleration; Sep/Oct typically harbinger for holidays.
Calendar 2025 Q2
would you say that leaves room for a nice upside for the full year? How would you sort of calibrate that guidance given that there was already upside to the original guide
Show response
Goetter noted tariff impact hasn't hit P&L yet (comes in back half as ~2-point margin drag). Still early in holiday selling cycle. Feels good about guidance as stated.
Is there anything that has changed in your thinking in terms of growth profile and opportunity today versus a year ago or even 6 months ago
Show response
Cocks confirmed Universes Beyond exceeding expectations on every measurable KPI, player growth, distribution growth, long tail economics. Partially why midterm guidance strongly reaffirmed despite CP tariff headwinds.
Calendar 2025 Q1
is it fair to assume that those mitigating efforts will include bringing China exposure for consumer products below substantially below the 50% mark.
Show response
Goetter broke down three mitigation levers: supply chain diversification, product portfolio rationalization (cutting untenable SKUs at 145%), and commercial/pricing actions including allowance management.
have you done any price elasticity of demand work to basically say, you know, x percent of growth in pricing is x percent impact on demand.
Show response
Cocks confirmed proprietary elasticity work but declined to share specifics. Emphasized key price points ($9.99/$19.99), must-have innovation, and entertainment-backed brands as pricing power drivers.
Calendar 2024 Q4
your gross debt-to-EBITDA target of 2.5 times could imply something like $1.3 billion of EBITDA by next year. And if I were doing the math around D&A right
Show response
Goetter confirmed EBITDA math close but pushed back on EPS being 'running a little hot' in 2026 due to higher tax rate and loss of interest income from cash balances.
would you say this new strategy is more of a recap of where you've been headed, which is more of a kind of a gaming company that makes some toys versus toys and games company before?
Show response
Cocks acknowledged it's a formalization of existing direction but highlighted new elements: emerging markets expansion, digital gaming differentiation, and audience diversity (60%+ over 13).
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HAS Hasbro | 13 | 0%none of 13 questions |
- HASHasbro · 13 questions0%none of 13 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Guidance Reliability3
- Demand3
- Revenue Growth3
- Product Launch2
- Innovation & R&D2
- Macroeconomic2
- Margin2
- Competitive Dynamics2
- Pricing2
- Subscriber Growth1
Show all 15 topics
- Capex Investment1
- Cost Pressure1
- Supply Chain1
- Trade Tariffs1
- Capital Allocation1