Latest news with #Wizards
CNBC
10 hours ago
- Business
- CNBC
Stocks making the biggest moves premarket: Hasbro, Texas Instruments, Hilton, AT&T and more
Check out the companies making headlines before the opening bell. Hilton Worldwide -- The hotel stock slipped nearly 2% despite Hilton posting a second-quarter earnings and revenue beat. Hilton reported adjusted earnings of $2.20 per share on revenue of $3.14 billion, while analysts polled by LSEG had expected earnings of $2.04 and $3.10 billion in revenue. The company also raised its full-year earnings guidance to between $7.83 to $8.00 per share, versus its prior range of between $7.76 and $7.94. Hasbro — Shares traded 3% higher in the premarket after the toymaker reported second-quarter results that beat analyst expectations. The company earned an adjusted $1.30 per share on revenue of $980.8 million. Analysts expected a profit of 78 cents per share on revenue of $880 million, according to LSEG. Hasbro also raised its full-year earnings guidance, "fueled by performance in our Wizards business," CFO Gina Goetter said in a statement. SAP — U.S.-listed shares of the enterprise software company fell 4.2%. The company posted 9.03 billion euros for second-quarter revenue, missing the LSEG consensus estimate of 9.08 billion euros. Texas Instruments — The chip stock dropped nearly 10% in premarket trading after the firm released a third-quarter forecast that missed estimates. The semiconductor company did report second-quarter results that beat analysts' expectations for revenue and earnings, however. AT & T — The telecom giant saw shares falling more than 3% even after the company exceeded Wall Street expectations for second-quarter earnings and revenue. AT & T also added more wireless subscribers than expected as discounted bundles combining 5G mobile and high-speed fiber plans gained traction. Enphase Energy — The solar stock dropped 8% in early trading after the firm issued third-quarter revenue guidance that came below Wall Street estimates. Enphase said tariffs had impacted its gross margin. Capital One — The bank stock climbed nearly 3% in premarket after the consumer lender's earnings crushed expectations, helped by a rise in interest income. Its quarterly revenue came in below an LSEG estimate, however. Intuitive Surgical — The healthcare name rose about 1% in premarket after the firm beat Wall Street estimates for second-quarter profit and revenue amid increasing demand for its surgical robots used in minimally invasive procedures. — CNBC's Alex Harring, Lisa Han and Fred Imbert contributed reporting.
Business Wire
11 hours ago
- Business
- Business Wire
Hasbro Reports Second Quarter 2025 Financial Results
PAWTUCKET, R.I.--(BUSINESS WIRE)--Hasbro, Inc. (NASDAQ: HAS), a leading games, IP, and toy company, today reported financial results for the second quarter 2025. 'Hasbro's return to growth in the first half of 2025 is clear validation that our Playing to Win strategy is working,' said Chris Cocks, Chief Executive Officer, Hasbro, Inc. 'We delivered record-setting results from MAGIC: THE GATHERING, alongside strong contributions from our games portfolio, licensing partnerships, and digital initiatives. With this momentum, we're increasing our full-year outlook and positioning Hasbro for sustained growth in 2025 and beyond.' 'We are raising our full-year revenue and adjusted EBITDA guidance, fueled by performance in our Wizards business. Despite a dynamic macro environment, the strength of our diversified business and cost productivity initiatives support our updated outlook,' said Gina Goetter, Hasbro Chief Financial Officer and Chief Operating Officer. Second Quarter 2025 Results Hasbro, Inc.'s revenue decreased 1%, with growth in Wizards and Digital Gaming nearly offsetting the decline in Consumer Products. MAGIC: THE GATHERING revenue grew 23% driven by the release of Final Fantasy , which set the record as being the biggest set release in Wizards history. , which set the record as being the biggest set release in Wizards history. Operating loss of $798 million includes a $1.0 billion non-cash goodwill impairment. Adjusted operating profit was $247 million stable year-over-year, reflecting the strength of MAGIC and a more efficient cost structure. Reported net loss of $6.10 per share and Adjusted net earnings of $1.30 per diluted share, an $0.08 improvement year over year. Returned $98 million to shareholders via dividends and reduced $12 million of outstanding debt. Second Quarter 2025 Segment Details Wizards of the Coast and Digital Gaming Segment Revenue increased 16% behind record growth in MAGIC: THE GATHERING and contributions from Monopoly Go! . MAGIC: THE GATHERING revenue increased 23% with growth in tabletop fueled by Final Fantasy and continued momentum in Secret Lair and backlist products. Monopoly Go! contributed $44M of revenue in the quarter. Operating profit decreased (-2%) driven by expected higher royalty expense; operating margin was 46.3%, down 8.4 points year over year. Consumer Products Segment Revenue decrease of 16% as growth in licensing was more than offset by anticipated softness in Toys driven by retailer order timing and geographic volatility. Growth across key brands including BEYBLADE, TRANSFORMERS, MONOPOLY and licensed products. Operating loss of $1,030 million includes $1.0 billion non-cash goodwill impairment. Adjusted operating profit of $1.2 million, with cost productivity within supply chain and managed expenses offsetting volume deleverage. Entertainment Segment Revenues declined 15% in the quarter related to the nature and timing of deals. Operating profit of $6 million compared to an operating loss of $1 million in the second quarter 2024. Adjusted operating profit of $10 million compared to adjusted operating profit of $18 million in the second quarter 2024. Year to Date 2025 Results Year to date Hasbro, Inc. revenue increased 7%, with continued growth in Wizards and Digital Gaming (+28%) offsetting declines in Consumer Products (-10%). Operating loss of $628 million includes $1.0 billion of non-cash goodwill impairment. Adjusted operating profit of $470 million benefited from favorable business mix and reduced operating expenses. Reported net loss of $5.41 per share and Adjusted net earnings of $2.35 per diluted share, a $0.52 improvement versus the same period last year. Returned $196 million to shareholders via dividends and reduced debt by $62 million. Year to Date Quarter 2025 Segment Details Wizards of the Coast and Digital Gaming Segment Revenue increased 28% due to momentum in MAGIC: THE GATHERING and contributions from Monopoly Go! . MAGIC: THE GATHERING revenue increased 32% with growth in tabletop. Year to date Monopoly Go! contributed $83M of revenue. Operating profit increased 28% and operating margin was 47.9%, flat compared to the same period last year. Consumer Products Segment Revenue decrease of 10% in line with expectations, with growth in licensing offset by declines in Toy due to the timing of retail orders. Growth across key brands including MARVEL, BEYBLADE, TRANSFORMERS, MONOPOLY and licensed products. Operating loss of $1,074 million includes non-cash goodwill impairment. Adjusted operating loss of $30 million, a 22% improvement versus the same period in 2024 as improved expenses are helping to offset volume deleverage. Entertainment Segment Revenues declined 9% in the period related to the timing of deals. Operating loss of $5 million compared to operating profit of $5 million in the same period last year. Adjusted operating profit of $28 million compared to adjusted operating profit of $36 million year to date 2024. See the financial tables accompanying the press release for a reconciliation of GAAP to non-GAAP financial measures. 2025 Company Outlook and Capital Allocation For the full year, the Company now expects: Total Hasbro revenues up mid-single digits in constant currency (previously up slightly). Adjusted operating margin of 22%-23% (previously 21% to 22%). Adjusted EBITDA of $1.17 billion to $1.20 billion (previously $1.1 billion to $1.15 billion). The Company's capital allocation priorities remain to invest in the core business; strengthen its balance sheet and progress towards its leverage target; and return cash to shareholders. Dividend Announcement During the second quarter, the Company paid $98 million in cash dividends to shareholders. The Board of Directors has declared a quarterly cash dividend of $0.70 per common share payable on September 3, 2025, to shareholders of record at the close of business on August 20, 2025. Conference Call Webcast Hasbro will webcast its second quarter 2025 earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast and access the accompanying presentation slides, please go to The replay of the call will be available on Hasbro's website approximately 2 hours following completion of the call. About Hasbro Hasbro is a leading games, IP and toy company whose mission is to create joy and community through the magic of play. With over 100 years of expertise, Hasbro delivers groundbreaking play experiences and reaches over 500 million kids, families and fans around the world, through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more. Through its franchise-first approach, Hasbro unlocks value from both new and legacy IP, including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, HASBRO GAMES, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands. Powered by its portfolio of thousands of iconic marks and a diversified network of partners and subsidiary studios, Hasbro brings fans together wherever they are, from tabletop to screen. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, a 2025 JUST Capital Industry Leader, one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50, and a Brand that Matters by Fast Company. For more information, visit or @Hasbro on LinkedIn. © 2025 Hasbro, Inc. All Rights Reserved. Forward Looking Statement Safe Harbor Certain statements in this press release contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be identified by the use of forward-looking words or phrases, include statements relating to our business strategies and plans; expectations relating to products, gaming and entertainment; anticipated impact of tariffs, including reciprocal and retaliatory tariffs; anticipated cost savings; and financial targets and guidance. Our actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Factors that might cause such a difference include, but are not limited to: our ability to successfully implement and execute on our Playing to Win business strategy; our ability to successfully compete in the play industry and further develop our digital gaming, licensing business and partnerships; risks associated with the imposition, threat or uncertainty of tariffs, including reciprocal or retaliatory tariffs, in markets in which we operate which could increase our product costs and other costs of doing business, result in higher prices of our products, impact consumer spending, lower our revenues, result in goodwill impairments, reduce earnings and otherwise have an adverse impact on our business; risks associated with international operations, such as: the imposition or threat of tariffs; conflict in territories in which we operate or which affect areas in which we operate; currency conversion; currency fluctuations; quotas; shipping delays or difficulties; border adjustment taxes or other protectionist measures; and other challenges in the territories in which we operate; risks related to political, economic and public health conditions or regulatory changes in the markets in which we and our customers, partners, licensees, suppliers and manufacturers operate, such as inflation, fluctuating interest rates, tariffs, higher commodity prices, labor strikes, labor costs or transportation costs, or outbreaks of illness or disease, the occurrence of which could create work slowdowns, delays or shortages in production or shipment of products, increases in costs, reduced purchasing power or less discretionary income, or losses and delays in revenue and earnings; uncertain and unpredictable global and regional economic conditions impacting one or more of the markets in which we sell products, which can negatively impact our customers and consumers, result in lower employment levels, consumer disposable income, retailer inventories and spending, including lower spending on purchases of our products; our ability to transform our business and capabilities to address the changing global consumer landscape, including evolving demographics for our products and advancements in emerging technologies, including the integration of artificial intelligence (AI) into our product development, marketing strategies, business operations and consumer engagement, and the associated risks such as ethical concerns, evolving regulatory standards, implementation challenges, and third-party dependencies; our ability to design, develop, manufacture, and ship products on a timely, cost-effective and profitable basis; the concentration of our customers, potentially increasing the negative impact to our business of difficulties experienced by any of our customers or changes in their purchasing or selling patterns; our dependence on third party relationships, including with third party partners, manufacturers, distributors, studios, content producers, licensors, licensees, and outsourcers, which creates reliance on others and loss of control; risks relating to the concentration of manufacturing for many of our products in the People's Republic of China, which include the risks associated with increased tariffs imposed by China and the U.S., and our ability to successfully diversify sourcing of our products to reduce reliance on sources of supply in China; the success of our key partner brands, including the ability to secure, maintain and extend agreements with our key partners or the risk of delays, increased costs or difficulties associated with any of our or our partners' planned digital applications or media initiatives; our ability to attract and retain talented and diverse employees, particularly following recent workforce reductions; our ability to realize the benefits of cost-savings and efficiency and/or revenue and operating profit enhancing initiatives; risks relating to the impairment and/or write-offs of businesses, products and content we acquire and/or produce; the risk that acquisitions, dispositions and other investments we complete may not provide us with the benefits we expect, or the realization of such benefits may be significantly delayed; our ability to protect our assets and intellectual property, including as a result of infringement, theft, misappropriation, cyber-attacks or other acts compromising the integrity of our assets or intellectual property; fluctuations in our business due to seasonality; the risk of product recalls or product liability suits and costs associated with product safety regulations; changes in accounting treatment, tax laws or regulations, or the interpretation and application of such laws and regulations, which may cause us to alter reserves or make other changes which significantly impact our reported financial results; the impact of litigation or arbitration decisions or settlement actions; the bankruptcy or other lack of success of one or more of our significant retailers, licensees and other partners; and other risks and uncertainties as may be detailed in our public announcements and U.S. Securities and Exchange Commission ('SEC') filings. The statements contained herein are based on our current beliefs and expectations. We undertake no obligation to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release. Non-GAAP Financial Measures The financial tables accompanying this press release include non-GAAP financial measures as defined under SEC rules, specifically Adjusted operating profit, Adjusted operating margin, Adjusted net earnings and Adjusted net earnings per diluted share, which exclude, where applicable, acquired intangible amortization, strategic transformation initiatives, restructuring and severance costs, loss on disposal of business, eOne Film and TV business divestiture related costs, and non-cash goodwill impairment charges. Also included in this press release are the non-GAAP financial measures of EBITDA and Adjusted EBITDA. EBITDA represents net earnings attributable to Hasbro, Inc. excluding interest expense, income tax expense, net earnings attributable to noncontrolling interests, depreciation and amortization of intangibles. Adjusted EBITDA also excludes strategic transformation initiatives, restructuring and severance costs, loss on disposal of business, eOne Film and TV business divestiture related costs, non-cash goodwill impairment charges, and the impact of stock compensation. As required by SEC rules, we have provided reconciliations on the attached schedules of these measures to the most directly comparable GAAP measure. Management believes that Adjusted net earnings, Adjusted net earnings per diluted share, Adjusted operating profit and Adjusted operating margin provide investors with an understanding of the underlying performance of our business absent unusual events. Management believes that EBITDA and Adjusted EBITDA are appropriate measures for evaluating the operating performance of our business because they reflect the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet and make strategic acquisitions. The Company is not able to reconcile its forward-looking non-GAAP adjusted operating margin and adjusted EBITDA measures because the Company cannot predict with certainty the timing and amounts of discrete items such as charges associated with its cost-savings program, which could impact GAAP results. Constant currency is also a non-GAAP financial measure. The impact of changes in foreign currency exchange rates used to translate the consolidated statements of operations is quantified by translating the current or future period revenues at the prior period exchange rates and comparing this amount to the prior period reported revenues. The Company believes that the presentation of the impact of changes in exchange rates, which are beyond the Company's control, is helpful to an investor's understanding of the performance of the underlying business. These non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in our consolidated financial statements and filings with the SEC. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America. HAS-E (Tables Attached) HASBRO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (1) (Unaudited) (Millions of Dollars) June 29, 2025 June 30, 2024 ASSETS Cash and Cash Equivalents $ 546.9 $ 626.8 Short-term Investments — 483.0 Accounts Receivable, Net 717.8 789.0 Inventories 417.1 357.6 Prepaid Expenses and Other Current Assets 359.4 418.0 Total Current Assets 2,041.2 2,674.4 Property, Plant and Equipment, Net 251.8 340.4 Goodwill 1,256.8 2,278.8 Other Intangible Assets, Net 489.4 552.8 Other Assets 1,135.2 1,017.7 Total Assets $ 5,174.4 $ 6,864.1 LIABILITIES, NONCONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY Current Portion of Long-Term Debt — 500.0 Accounts Payable 339.6 297.5 Accrued Liabilities 888.2 1,032.6 Total Current Liabilities 1,227.8 1,830.1 Long-Term Debt 3,320.9 3,461.4 Other Liabilities 356.0 399.7 Total Liabilities 4,904.7 5,691.2 Total Shareholders' Equity 269.7 1,172.9 Total Liabilities, Noncontrolling Interests and Shareholders' Equity $ 5,174.4 $ 6,864.1 (1) Amounts may not sum due to rounding Expand HASBRO, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (1) (Unaudited) (Millions of Dollars and Shares Except Per Share Data) Three Months Ended Six Months Ended June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Amount % of Net Revenues Amount % of Net Revenues Amount % of Net Revenues Amount % of Net Revenues Net revenues $ 980.8 100.0 % $ 995.3 100.0 % $ 1,867.9 100.0 % $ 1,752.6 100.0 % Costs and expenses: Cost of sales 225.3 23.0 % 237.7 23.9 % 429.8 23.0 % 441.9 25.2 % Program cost amortization 6.2 0.6 % 8.5 0.9 % 13.6 0.7 % 16.6 0.9 % Royalties 84.5 8.6 % 55.3 5.6 % 141.5 7.6 % 106.2 6.1 % Product development 77.5 7.9 % 70.4 7.1 % 158.0 8.5 % 135.9 7.8 % Advertising 63.6 6.5 % 60.4 6.1 % 119.0 6.4 % 111.9 6.4 % Amortization of intangible assets 17.2 1.8 % 17.1 1.7 % 34.2 1.8 % 34.1 1.9 % Impairment of goodwill 1,021.9 104.2 % — — % 1,021.9 54.7 % — — % Loss on disposal of business — — % 15.3 1.5 % 25.0 1.3 % 24.4 1.4 % Selling, distribution and administration 282.8 28.8 % 318.5 32.0 % 552.4 29.6 % 553.3 31.6 % Total costs and expenses 1,779.0 181.4 % 783.2 78.7 % 2,495.4 133.6 % 1,424.3 81.3 % Operating profit (loss) (798.2 ) (81.4 )% 212.1 21.3 % (627.5 ) (33.6 )% 328.3 18.7 % Non-operating expense (income): — % Interest expense 40.6 4.1 % 43.0 4.3 % 82.2 4.4 % 81.5 4.7 % Interest income (5.4 ) (0.6 )% (13.0 ) (1.3 )% (14.3 ) (0.8 )% (21.3 ) (1.2 )% Other (income) expense, net (18.7 ) (1.9 )% (0.8 ) (0.1 )% (17.3 ) (0.9 )% 4.2 0.2 % Total non-operating expense, net 16.5 1.7 % 29.2 2.9 % 50.6 2.7 % 64.4 3.7 % Earnings (loss) before income taxes (814.7 ) (83.1 )% 182.9 18.4 % (678.1 ) (36.3 )% 263.9 15.1 % Income tax expense 40.0 4.1 % 44.4 4.5 % 77.1 4.1 % 66.3 3.8 % Net earnings (loss) (854.7 ) (87.1 )% 138.5 13.9 % (755.2 ) (40.4 )% 197.6 11.3 % Net earnings attributable to noncontrolling interests 1.1 0.1 % — — % 2.0 0.1 % 0.9 0.1 % Net earnings (loss) attributable to Hasbro, Inc. $ (855.8 ) (87.3 )% $ 138.5 13.9 % $ (757.2 ) (40.5 )% $ 196.7 11.2 % Net earnings (loss) per common share: Basic $ (6.10 ) $ 0.99 $ (5.41 ) $ 1.41 Diluted $ (6.10 ) $ 0.99 $ (5.41 ) $ 1.41 Cash dividends declared per common share $ 0.70 $ — $ 1.40 $ 0.70 Weighted Average Number of Shares Basic 140.3 139.5 140.0 139.2 Diluted 140.3 140.0 140.0 139.6 (1) Amounts may not sum due to rounding Expand HASBRO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (1) (Unaudited) (Millions of Dollars) Six months ended June 29, 2025 June 30, 2024 Cash Flows from Operating Activities: Net Earnings $ (755.2 ) $ 197.6 Impairment of Goodwill 1,021.9 — Loss on Disposal of Business 25.0 24.4 Other Non-Cash Adjustments 106.3 126.8 Changes in Operating Assets and Liabilities (188.6 ) 16.3 Net Cash Provided by Operating Activities 209.4 365.1 Cash Flows from Investing Activities: Additions to Property, Plant and Equipment (29.9 ) (49.5 ) Additions to Software Development (61.8 ) (48.2 ) Purchase of investments (10.0 ) (480.1 ) Other 12.5 2.4 Net Cash Utilized by Investing Activities (89.2 ) (575.4 ) Cash Flows from Financing Activities: Proceeds from Long-Term Debt — 498.6 Repayments of Borrowings (60.5 ) — Dividends Paid (196.0 ) (194.6 ) Payments Related to Tax Withholding for Share-Based Compensation (19.9 ) (11.9 ) Stock-Based Compensation Transactions 4.9 4.0 Payments of financing costs — (5.3 ) Other (3.1 ) (2.3 ) Net Cash Provided (Utilized) by Financing Activities (274.6 ) 288.5 Effect of Exchange Rate Changes on Cash 6.3 3.2 Net Increase (Decrease) in Cash and Cash Equivalents (148.1 ) 81.4 Cash and Cash Equivalents at Beginning of Year 695.0 545.4 Cash and Cash Equivalents at End of Period $ 546.9 $ 626.8 (1) Amounts may not sum due to rounding Expand HASBRO, INC. SEGMENT RESULTS - AS REPORTED AND AS ADJUSTED (1) (Unaudited) (Millions of Dollars) Three Months Ended June 29, 2025 Three Months Ended June 30, 2024 Operating Results As Reported Non-GAAP Adjustments Adjusted As Reported Non-GAAP Adjustments Adjusted % Change Total Company Results External Net Revenues $ 980.8 $ — $ 980.8 $ 995.3 $ — $ 995.3 -1 % Operating Profit (Loss) (798.2 ) 1,045.3 247.1 212.1 36.7 248.8 -1 % Operating Margin -81.4 % >100 % 25.2 % 21.3 % 3.7 % 25.0 % Segment Results Wizards of the Coast and Digital Gaming: External Net Revenues $ 522.4 $ — $ 522.4 $ 452.0 $ — $ 452.0 16 % Operating Profit 241.8 — 241.8 247.1 — 247.1 -2 % Operating Margin 46.3 % — 46.3 % 54.7 % — 54.7 % Consumer Products: External Net Revenues $ 442.4 $ — $ 442.4 $ 524.5 $ — $ 524.5 -16 % Operating Profit (Loss) (1,029.6 ) 1,030.8 1.2 (9.3 ) 9.0 (0.3 ) >100 % Operating Margin >-100 % >100 % 0.3 % -1.8 % 1.7 % -0.1 % Entertainment: External Net Revenues $ 16.0 $ — $ 16.0 $ 18.8 $ — $ 18.8 -15 % Operating Profit (Loss) 6.3 3.8 10.1 (1.0 ) 18.7 17.7 -43 % Operating Margin 39.4 % 23.8 % 63.1 % -5.3 % 99.5 % 94.1 % Corporate and Other: Operating Profit (Loss) $ (16.7 ) $ 10.7 $ (6.0 ) $ (24.7 ) $ 9.0 $ (15.7 ) 62 % (1) Amounts may not sum due to rounding Expand Three Months Ended Wizards of the Coast and Digital Gaming Net Revenues by Category June 29, 2025 June 30, 2024 % Change Tabletop Gaming $ 406.3 $ 307.6 32 % Digital and Licensed Gaming 116.1 144.4 -20 % Net revenues $ 522.4 $ 452.0 Three Months Ended Consumer Products Segment Net Revenues by Major Geographic Region June 29, 2025 June 30, 2024 % Change North America $ 236.0 $ 306.1 -23 % Europe 95.7 92.0 4 % Asia Pacific 63.6 62.6 2 % Latin America 47.1 63.8 -26 % Net revenues $ 442.4 $ 524.5 Three Months Ended Entertainment Segment Net Revenues by Category June 29, 2025 June 30, 2024 % Change Film and TV $ 1.5 $ 1.8 -17 % Family Brands 14.5 17.0 -15 % Net revenues $ 16.0 $ 18.8 Three Months Ended Supplementary Hasbro Gaming Information: June 29, 2025 June 30, 2024 % Change MAGIC: THE GATHERING $ 412.0 $ 336.0 23 % Hasbro Total Gaming (1) 615.8 548.4 12 % (1) Hasbro Total Gaming includes all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming. Expand Six Months Ended June 29, 2025 Six Months Ended June 30, 2024 Operating Results (1) As Reported Non-GAAP Adjustments Adjusted As Reported Non-GAAP Adjustments Adjusted % Change Total Company Results External Net Revenues $ 1,867.9 $ — $ 1,867.9 $ 1,752.6 $ — $ 1,752.6 7 % Operating Profit (Loss) (627.5 ) 1,097.1 469.6 328.3 69.1 397.4 18 % Operating Margin -33.6 % 58.7 % 25.1 % 18.7 % 3.9 % 22.7 % Segment Results Wizards of the Coast and Digital Gaming: External Net Revenues $ 984.5 $ — $ 984.5 $ 768.3 $ — $ 768.3 28 % Operating Profit 471.8 — 471.8 369.9 — 369.9 28 % Operating Margin 47.9 % — 47.9 % 48.1 % — 48.1 % Consumer Products: External Net Revenues $ 840.7 $ — $ 840.7 $ 937.5 $ — $ 937.5 -10 % Operating Profit (Loss) (1,073.5 ) 1,043.7 (29.8 ) (56.2 ) 18.1 (38.1 ) 22 % Operating Margin >-100 % >100 % -3.5 % -6.0 % 1.9 % -4.1 % Entertainment: External Net Revenues $ 42.7 $ — $ 42.7 $ 46.8 $ — $ 46.8 -9 % Operating Profit (Loss) (4.9 ) 32.4 27.5 4.8 31.1 35.9 -23 % Operating Margin -11.5 % 75.9 % 64.4 % 10.3 % 66.5 % 76.7 % Corporate and Other: Operating Profit (Loss) $ (20.9 ) $ 21.0 $ 0.1 $ 9.8 $ 19.9 $ 29.7 -100 % (1) Amounts may not sum due to rounding Expand Six Months Ended Wizards of the Coast and Digital Gaming Net Revenues by Category June 29, 2025 June 30, 2024 % Change Tabletop Gaming $ 750.1 $ 535.8 40 % Digital and Licensed Gaming 234.4 232.5 1 % Net revenues $ 984.5 $ 768.3 Six Months Ended Consumer Products Segment Net Revenues by Major Geographic Region June 29, 2025 June 30, 2024 % Change North America $ 467.4 $ 545.2 -14 % Europe 180.7 179.5 1 % Asia Pacific 117.4 111.4 5 % Latin America 75.2 101.4 -26 % Net revenues $ 840.7 $ 937.5 Six Months Ended Entertainment Segment Net Revenues by Category June 29, 2025 June 30, 2024 % Change Film and TV $ 5.8 $ 1.8 >100 % Family Brands 36.9 45.0 -18 % Net revenues $ 42.7 $ 46.8 Six Months Ended Supplementary Hasbro Gaming Information: June 29, 2025 June 30, 2024 % Change MAGIC: THE GATHERING $ 758.3 $ 573.9 32 % Hasbro Total Gaming (1) 1,165.9 956.4 22 % (1) Hasbro Total Gaming includes all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars) Three Months Ended Six Months Ended Reconciliation of EBITDA and Adjusted EBITDA (1) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Net Earnings (Loss) Attributable to Hasbro, Inc. $ (855.8 ) $ 138.5 $ (757.2 ) $ 196.7 Interest expense 40.6 43.0 82.2 81.5 Income tax expense 40.0 44.4 77.1 66.3 Net earnings attributable to noncontrolling interests 1.1 — 2.0 0.9 Depreciation expense 14.9 28.4 32.1 49.6 Amortization of intangibles 17.2 17.1 34.2 34.1 EBITDA $ (742.0 ) $ 271.4 $ (529.6 ) $ 429.1 Stock compensation 11.3 17.8 29.7 12.8 Strategic transformation initiatives (2) 3.9 7.3 11.1 12.5 Restructuring and severance costs (3) 6.8 1.7 12.7 7.4 Loss on disposal of business (4) — 15.3 25.0 24.4 eOne Film and TV business divestiture related costs (5) 0.1 — 5.6 — Impairment of goodwill (6) 1,021.9 — 1,021.9 — Adjusted EBITDA $ 302.0 $ 313.5 $ 576.4 $ 486.2 (1) Amounts may not sum due to rounding (2) Strategic transformation initiatives costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to support the organization in identifying, realizing and capturing savings to create efficiencies and improve business processes and operations. (3) Restructuring and severance associated with cost-savings initiatives across the Company. (4) Loss on disposal of a business related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (5) eOne Film and TV business divestiture related costs as a result of the sale of the eOne Film and TV business and certain retained liabilities. (6) During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars) Three Months Ended Six Months Ended Reconciliation of Adjusted Operating Profit (1) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Operating Profit (Loss) $ (798.2 ) $ 212.1 $ (627.5 ) $ 328.3 Wizards of the Coast and Digital Gaming 241.8 247.1 471.8 369.9 Consumer Products (1,029.6 ) (9.3 ) (1,073.5 ) (56.2 ) Entertainment 6.3 (1.0 ) (4.9 ) 4.8 Corporate and Other (16.7 ) (24.7 ) (20.9 ) 9.8 Non-GAAP Adjustments $ 1,045.3 $ 36.7 $ 1,097.1 $ 69.1 Consumer Products 1,030.8 9.0 1,043.7 18.1 Entertainment 3.8 18.7 32.4 31.1 Corporate and Other 10.7 9.0 21.0 19.9 Adjusted Operating Profit (Loss) $ 247.1 $ 248.8 $ 469.6 $ 397.4 Wizards of the Coast and Digital Gaming 241.8 247.1 471.8 369.9 Consumer Products 1.2 (0.3 ) (29.8 ) (38.1 ) Entertainment 10.1 17.7 27.5 35.9 Corporate and Other (6.0 ) (15.7 ) 0.1 29.7 Non-GAAP Adjustments include the following: Acquired intangible amortization (2) 12.6 12.4 25.0 24.8 Strategic transformation initiatives (3) 3.9 7.3 11.1 12.5 Restructuring and severance costs (4) 6.8 1.7 12.7 7.4 Loss on disposal of business (5) — 15.3 25.0 24.4 eOne Film and TV business divestiture related costs (6) 0.1 — 1.4 — Impairment of goodwill (7) 1,021.9 — 1,021.9 — Total $ 1,045.3 $ 36.7 $ 1,097.1 $ 69.1 (1) Amounts may not sum due to rounding (2) Represents intangible amortization costs related to the intangible assets acquired in the eOne acquisition. The Company has allocated certain of these intangible amortization costs between the Consumer Products and Entertainment segments, to match the revenue generated from such intangible assets. While amortization of acquired intangibles is being excluded from the related GAAP financial measure, the revenue of the acquired company is reflected within the Company's operating results to which these assets contribute. (3) Strategic transformation initiatives costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to support the organization in identifying, realizing and capturing savings to create efficiencies and improve business processes and operations. (4) Restructuring and severance costs associated with cost-savings initiatives across the Company. (5) Loss on disposal of a business related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (6) eOne Film and TV business divestiture related costs as a result of the sale of the eOne Film and TV business and certain retained liabilities. (7)During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand HASBRO, INC. NON-GAAP RECONCILIATION (Unaudited) (Millions of Dollars and Shares, Except Per Share Data) Reconciliation of Net Earnings and Earnings per Share (1) Three Months Ended June 29, 2025 Diluted Per Share Amount June 30, 2024 Diluted Per Share Amount Net Earnings (Loss) Attributable to Hasbro $ (855.8 ) $ (6.10 ) $ 138.5 $ 0.99 Acquired intangible amortization (2) 9.4 0.07 9.3 0.07 Strategic transformation initiatives (3) 3.0 0.02 5.7 0.04 Restructuring and severance costs (4) 5.3 0.04 1.3 0.01 Loss on disposal of business (5) — — 15.3 0.11 eOne Film and TV divestiture related costs (6) 0.1 — — — Impairment of goodwill (7) 1,021.9 7.24 — — Net Earnings Attributable to Hasbro as Adjusted $ 183.9 $ 1.30 $ 170.1 $ 1.22 Six Months Ended June 29, 2025 Diluted Per Share Amount June 30, 2024 Diluted Per Share Amount Net Earnings (Loss) Attributable to Hasbro $ (757.2 ) $ (5.41 ) $ 196.7 $ 1.41 Acquired Intangible Amortization (2) 18.7 0.13 18.6 0.13 Strategic transformation initiatives (3) 8.5 0.06 9.6 0.07 Restructuring and severance costs (4) 9.8 0.07 5.7 0.04 Loss on disposal of business (5) 25.0 0.18 24.4 0.18 eOne Film and TV business sale process charges (6) 4.2 0.03 — — Impairment of goodwill (7) 1,021.9 7.24 — — Net Earnings Attributable to Hasbro as Adjusted $ 330.9 $ 2.35 $ 255.0 $ 1.83 (1) Amounts may not sum due to rounding (2) Represents intangible amortization costs related to the intangible assets acquired in the eOne acquisition. The Company has allocated certain of these intangible amortization costs between the Consumer Products and Entertainment segments, to match the revenue generated from such intangible assets. While amortization of acquired intangibles is being excluded from the related GAAP financial measure, the revenue of the acquired company is reflected within the Company's operating results to which these assets contribute. (3) Strategic transformation initiatives costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to support the organization in identifying, realizing and capturing savings to create efficiencies and improve business processes and operations. These costs primarily consist of third party consulting of $3.9 ($3.0 after-tax) and $11.1 ($8.5 after-tax) for the three months and six months ended June 29, 2025, respectively, and $7.3 ($5.7 after-tax) and $12.5 ($9.6 after-tax) for the three months and six months ended June 30, 2024, respectively. (4) Restructuring and severance costs $6.8 ($5.3 after-tax) and $12.7 ($9.8 after-tax) for the three months and six months ended June 29, 2025, respectively, and $1.7 ($1.3 after-tax) and $7.4 ($5.7 after-tax) for the three months and six months ended June 30, 2024, respectively, associated with cost-savings initiatives across the Company. (5) Loss on disposal of a business of $25.0 ($25.0 after-tax) for the six months ended June 29, 2025 and $15.3 ($15.3 after-tax) and $24.4 ($24.4) after-tax for the three months and six months ended June 30, 2024, respectively, related to the sale of the eOne Film and TV business executed on December 27, 2023. The costs are included in Loss on Disposal of Business within the Entertainment segment. (6) eOne Film and TV business divestiture related costs of $0.1 ($0.1 after-tax) and $5.6 ($4.2 after-tax) for three months and six months ended June 29, 2025, respectively, as a result of the sale of the eOne Film and TV business and certain retained liabilities. (7) During Q2 2025, Hasbro recorded a non-cash goodwill impairment charge of $1,021.9 million in the Consumer Products segment, following completion of an interim quantitative assessment of goodwill triggered by the implementation of tariffs. Expand
Yahoo
14 hours ago
- Entertainment
- Yahoo
Harry Potter 'Back to Hogwarts' 2025 Celebrations Revealed
Global events, 20th anniversary screenings, and digital surprises await… LONDON, July 23, 2025 /CNW/ -- Wizards, witches and Muggles - wands at the ready! The countdown to Back to Hogwarts has begun, and this year's festivities are set to be more magical than ever! Every 1st September, Harry Potter fans mark the iconic return to Hogwarts School of Witchcraft and Wizardry. Now, nearly almost a quarter of a century since the first film enchanted audiences, this beloved tradition has grown into an annual global celebration of all things Harry Potter. 20 Years of Harry Potter and the Goblet of Fire Celebrate two decades of Triwizard Tournament thrills with special Back to Hogwarts screenings of Harry Potter and the Goblet of Fire in cinemas worldwide. In the United States, fans can relive the epic adventure on the big screen for a limited time through the Back to Hogwarts official ticketing partner – – and have a chance to get their hands on magical Harry Potter giveaways as part of the celebrations. Theatres in Canada, EMEA and International Territories will all be joining in the fun – check local listings and for details. Magic Meets Snapchat Introducing four brand new 3D Harry Potter Bitmoji Lenses with Friends! From mid-Aug in honour of Back to Hogwarts, Snap users globally will be able to see their Snapchat Bitmoji (decked out in the latest Back to Hogwarts themed fashion drop, naturally) take a trip into the wizarding world! Watch as your Bitmoji interacts with your friends' Bitmojis in four different iconic Harry Potter scenes – Hogwarts Letters at the Dursleys', Platform Nine and Three-Quarters, Putting names into the Goblet of Fire, and the Wizard Chess scene from Harry Potter and the Philosopher's Stone. Global Fan Festivities Back to Hogwarts celebrations are happening everywhere and this year's revelries are sure to make memories worthy of Dumbledore's Pensieve! Look out for celebratory Back to Hogwarts themed moments at Harry Potter destinations around the world – including park lands at Universal Destinations & Experiences, Warner Bros. Studio Tours, and various Harry Potter travelling experience locations globally. So, whether you're in London, Paris, Tokyo or joining in online, there's something spellbinding for everyone… United Kingdom Fans can attend a free screening of Harry Potter and the Goblet of Fire at London's iconic Cineworld Leicester Square on 31st Aug. Before the film, ticket holders will enjoy a live Q&A with James and Oliver Phelps (Fred and George Weasley), hosted by TV and radio presenter, Yinka Bokinni, plus enjoy fun in the foyer with photo ops – including The Great Hall from Warner Bros. Studio Tour London – the Making of Harry Potter. Fans are encouraged to attend in their finest wizarding attire for the chance to win prizes from The LEGO Group and The Noble Collection. All attendees will also receive a Wizarding World, Micro Magical Moments Year 4 Collectible Figure Set from Spinmaster. Tickets are free, strictly limited and essential for entry, keep an eye on for news on when these will be released. Wizarding Wednesdays returns between 13th Aug and 23rd Sept with prizes galore, keep an eye out on the Harry Potter social channels to find out more info. Warner Bros. Studio Tour London – the Making of Harry Potter will host 300 lucky guests at a celebratory 11am countdown moment at the Studio Tour, held on the platform next to the iconic Hogwarts Express live on 1st Sept. Tickets are exclusively available by entering a competition to win, visit @wbtourlondon for more details on how to enter before the competition closes on 11th Aug. Visitors to the London Platform 9 ¾ shop can pose with a special photo opportunity frame and pick up exclusive Back to Hogwarts merchandise instore, available from 28th July. House of MinaLima also invites fans to join a special meet and greet event on the 31st of Aug where they can get their hands on a limited-edition giveaway Back to Hogwarts 2025 button badge (while supplies last). Visit for more info. Harry Potter and the Cursed Child London will be giving out special badges to all audience members at performances between 3rd and 7th Sept. Fans are reminded that there will be no event, countdown or train announcement at King's Cross Station on 1st Sept. – and are strongly advised not to travel in order to avoid disappointment. North America & Canada Visitors heading to Harry Potter StoreNew York and Harry Potter Store Chicago can pick up exclusive, time-limited Back to Hogwarts merch in store from 28th July. Starting today, fans eager to attend the popular Harry Potter: A Forbidden Forest Experience will be able to sign up for early waitlist confirmation as the experience is confirmed to take place in Chicago later this year – check out for more info. Fans in Salt Lake City, Utah can take advantage of a special ticket offer available on 1st Sept at Harry Potter: The Exhibition. Harry Potter and the Cursed Child on Broadway will be celebrating '19 Years Later' with $19 tickets for select performances this autumn. This special priced ticket will be available for one day only on 1st Sept, online at or at the Lyric Theatre Box Office. France Paris, 30th Aug: The stunning Sainte-Geneviève Library will transform into a magical 'school exam' inspired free ticketed event with interactive quizzes, a special Harry Potter themed dictation session read by Solange Boulanger (the French language actor who dubbed Dolores Umbridge in the film series). The LEGO Group and Haribo displays, and more surprises will be announced during the summer. For fans unable to make it on the day, the fun will be hosted online from 30th Aug until 7th Sept. Details are soon to be released on how fans can join online, via the French HP and Warner FR social channels. Germany Hamburg, 29 Aug, 30th Aug & 1 Sept: Westfield Hamburg-Überseequartier will play host to a spectacular three-day Back to Hogwarts event, offering fans of all ages specially themed interactive activities and magical give-aways from partners including Thalia, The LEGO Group, Haribo and Harry Potter and the Cursed Child. Nationwide, mid Aug until mid Sept: Stop by Thalia this summer, where 10 stores across Germany will be celebrating Back to Hogwarts. Visitors can enjoy fun photo opportunities, themed activities, prize-draws and special Harry Potter displays before shopping an exclusive themed range and discovering magical 'back to school' promotions. More details here 29th Aug & 5th Sept: Wizards and witches also have the opportunity to attend one of four special Back to Hogwarts themed sleepover events held at Thalia stores in Dusseldorf, Hannover, Leipzig and Hamburg. Lucky attendees can look forward to magical activities and take home an exclusive goody bag. Check out for details on how to apply for free tickets. Hamburg, 31st Aug: Harry Potter and the Cursed Child will host a special Back to Hogwarts Show to celebrate the start of a new school year. Full details here: Italy Milan, 1st Sept: Fans can register to join a spectacular free Back to Hogwarts event, held at Teatro Nazionale. The beautiful space will be entirely themed and transformed into a magical venue for the celebrations. Look forward to an 11'o'clock countdown, interactive games, quizzes, special performances, plus surprise guests! To learn more and register, visit Spain Madrid, 31st Aug & 1st Sept: Fans are invited to a special two-day event at a stunning yet-to-be-revealed location. Get ready for plenty of magical fun, including Back to Hogwarts and Harry Potter themed photo opportunities, an interactive 11 o'clock countdown, and much more. Further details will be announced soon. Japan Tokyo, 29th Aug – 31st Aug: Baseball fans attending Saitama Seibu Lions games can look forward to a special Back to Hogwarts collaboration with Harry Potter x Lions. Fans can get their hands on bespoke products and visitors on the 29th will also be able to watch as a cast member from Harry Potter and the Cursed Child makes the ceremonial pitch! China Shanghai: 7th Aug – 10th Aug: In honour of Back to Hogwarts season, fans will be able to enjoy both Harry Potter and the Prisoner of Azkaban and Harry Potter and the Goblet of Fire in Concert. Hangzhou: 30th Aug – 1st Sept: Look forward to a special Back to Hogwarts celebration in Hangzhou's West Lake District. Expect celebratory photo opportunities, a first glimpse at brand new products and a host of magical fun. Find out more by visiting the official Harry Potter Chinese social channel. Singapore Visitors to Harry Potter: Visions of Magic with a valid ticket, arriving dressed in their favourite house attire have the chance to win complimentary gifts with other surprises on site. Australia Fans in Melbourne, Australia can take advantage of a special ticket offer available on 1st Sept at Harry Potter: The Exhibition. Online Don't miss the Back to Hogwarts Showcase at 10:40 BST / 05:40 ET, which will be available on YouTube, TikTok and Instagram. Expect news, updates and announcements for the year ahead. There are more Back to Hogwarts activities and events yet to be announced, visit to stay up to date, get Sorted into your Hogwarts house, and join the Harry Potter Fan Club. Photo: View original content to download multimedia: SOURCE Warner Brothers View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 hours ago
- Sport
- Yahoo
Lakers trade proposal lands Marcus Smart in Wizards deal
The post Lakers trade proposal lands Marcus Smart in Wizards deal appeared first on ClutchPoints. The 2025 edition of the NBA Summer League in Las Vegas has begun, and the Los Angeles Lakers' search for upgrades up and down their roster continues along. According to ClutchPoints Senior Lakers insider Anthony Irwin, LA is 'hoping to reignite trade talks' during Summer League, with one of their potential targets being former Defensive Player of the Year Marcus Smart. Smart, however, is no longer the player he once was. In fact, the Memphis Grizzlies had to attach a first-round pick just so they could get rid of Smart and his contract, and the Washington Wizards obliged. Smart once had one of the best contracts in the league, and yet here he is, having little to no trade value whatsoever, which could then pave the way for the Lakers to snag him for cheap. He's in the final year of his deal making around $21 million, and Smart, if not traded, appears likely to be headed for the buyout market. But the Lakers would have many competitors in such a scenario, and trading for Smart allows them to get ahead of the competition in what could be a comeback season of sorts for the 2022 DPOY. Here's the package the Lakers must put together to acquire Smart in a trade with the Wizards. Lakers upgrade their backup point guard Lakers acquire: Marcus Smart Wizards acquire: Gabe Vincent, Maxi Kleber, 2032 second-round pick Towards the end of the 2024-25 season, Gabe Vincent began to round into form for the Lakers, looking like the man they signed off free agency from the Miami Heat in 2023. It was a major bounce-back for Vincent, who played in just 11 games for the Lakers in his disastrous first season in LA. At the end of the day, Vincent, while a solid 3-and-D bench point guard, could not recapture the form he had for the Miami Heat now that he's on the Lakers. He averaged 6.4 points on 40 percent shooting last year, and he looms as a huge trade chip for the Lakers now that he's in the final year of his contract making $11 million. What made Vincent valuable for the Lakers last season was that he showed up for the majority of the season, suiting up in 72 games and providing some much-needed backcourt versatility for the Purple and Gold. Giving him up for Smart requires the Lakers to take a risk and have faith that the 2022 DPOY isn't damaged goods quite yet. That requires a lot of positive thinking, as the Grizzlies, the team that acquired Smart to be their de facto Dillon Brooks replacement, had to give up a first-rounder just so they could get his contract off the books. Smart hasn't been at his best physically over the past few seasons, picking up a knock here and there which added up to a ton of missed time Last year, Smart played in just 34 games, and over the past two campaigns, he suited up in just 54 contests. Availability may not be the best ability, but it sure does matter a lot, and for a Lakers squad that's looking to compete for a championship in the loaded Western Conference, Smart would need to play a ton of minutes in the event that he lands in LA — putting him at risk of picking up injuries. There is a chance that the 31-year-old won't be able to return to his DPOY form, although even then, he would represent an upgrade over Vincent. But it's not quite clear if the Lakers could afford to play it safe with Smart by giving him occasional rest days and not overworking him. LA may not have such luxury, especially if they're trading away a valuable bench piece in Vincent in the process. But at the very least, Smart showed that he can still play solid basketball for stretches. His shooting percentages improved towards the end of last season when he was with the Wizards, and in LA, he won't be tasked to do much of anything other than to defend, hit open shots, and ruffle opponents' feathers. The expectation for Smart should the Lakers trade for him would be for him to play at least 65 games, play 20 minutes a night, and act as a key piece of a Purple and Gold squad that aims to recapture the defensive heights they reached last year. With the departure of Dorian Finney-Smith, acquiring a multi-positional defender is a must for the Lakers, and Smart, while undersized relative to Finney-Smith, has shown he can battle against the premier scorers of the association — provided he remains healthy, of course. For the opportunity to perhaps facilitate a career revival for Smart, the Lakers, in this scenario, will be giving up Maxi Kleber and a 2032 second-rounder as well. That second-rounder is seven years out, so that should not matter too much for a team looking to win now. Kleber could be a valuable stretch big option, but one would think that the Lakers would want to keep Jarred Vanderbilt over Kleber instead when choosing who to include for salary-matching purposes. Related: Lakers' Bronny James catches more attention after lighting it up vs. Celtics Related: Sources: LeBron James retirement buzz gets louder at NBA Summer League
Yahoo
18 hours ago
- Sport
- Yahoo
Marcus Smart intends to sign with Lakers after Wizards buyout
The post Marcus Smart intends to sign with Lakers after Wizards buyout appeared first on ClutchPoints. After being relatively quiet in free agency, with their biggest upgrade coming in the form of former Phoenix Suns and Portland Trail Blazers center DeAndre Ayton, the Los Angeles Lakers intend to make a big swing in the coming days by signing Marcus Smart to a free-agent deal. Breaking the news on social media, ESPN's Shams Charania revealed that not only has Smart agreed to a contract buyout with the Washington Wizards, but he also intends to immediately sign a new, multiyear deal with LA once he clears waivers. 'BREAKING: Marcus Smart has agreed to a contract buyout with the Washington Wizards and intends to sign a two-year, $11 million deal with the Los Angeles Lakers after clearing waivers, sources tell ESPN,' Charania wrote. 'A return to a grand stage for the 2022 NBA Defensive Player of the Year.' Now granted, the idea of Smart joining the Lakers is nothing new, as he's been linked to the team a few times so far this offseason, but now, with the Wizards agreeing to let him walk following presumed failed trade conversations, the runway has been set for the former Boston Celtics and Memphis Grizzlies guard to join a Los Angeles backcourt that also features Luka Doncic, Austin Reaves, and Bronny James. Originally drafted sixth overall in the 2014 NBA Draft, Smart rapidly turned himself into one of the best defensive guards in the business, recording three All-Defensive team designations in addition to the Defensive Player of the Year award in 2022. Though he's never been more than an all-right offensive player, with his 3-point shooting percentage well below the league average at 32.4 percent, Smart has more than made up for that with his aggressive approach at both ends of the court, where he does the little things needed to help his teams win basketball games. Would the Lakers have preferred to land a two-way guard who could both set up and space the court for Doncic and company? Sure, but at this point in the summer, adding a player like Smart for less than the midlevel exception is a great add all the same. Related: Luka Doncic reveals Lakers dream that will have fans desire championships Related: Grading Marcus Smart's $11 million Lakers contract
