Hasbro, Inc.

Good morning and welcome to the Hasbro first quarter 2026 earnings call. At this time all parties will be in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the call please press star zero on your telephone keypad. Today's conference is being recorded. If you have any objections you may disconnect at this time. Finally I'd like to turn the call over to Fred Whiteman Vice President, Hasbro Investor Relations. Please go ahead, sir.

Thank you and good morning, everyone. Joining me today are Chris Cox, Hasbro's Chief Executive Officer, and Gina Getter, Hasbro's Chief Financial Officer and Chief Operating Officer. We'll begin today's call with Chris and Gina providing commentary on the company's performance before taking your questions. Our earnings release and presentation slides for today's call are posted on our investor website. The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the press release and presentation. Please note that whenever we discuss earnings per share or EPS, we are referring to earnings per diluted share. Before we begin, I would like to remind you that during this call and the question and answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives, and similar matters. There are many factors that could cause actual results or events to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. These factors include those set forth in our annual report on Form 10-K, our most recent 10-Q, in today's press release, and in our other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call. I would now like to introduce Chris Cox. Chris?

Thanks, Fred, and good morning, everyone. Hasbro started 2026 with momentum. Revenue grew 13%, powered by Wizards of the Coast, while consumer products posted point-of-sale growth and share gains across our key gem-squared categories. These results reinforce our confidence in the playing-to-win strategy, as Hasbro's DeFi P-Vault, industry-leading licensing capabilities, and world-class partners position us for success today and into the future. Let's dig into results. starting with Wizards of the Coast. T1 showed that Magic's record 2025 was no fluke. Laura When Eclipsed, which debuted in January, became the best-selling Magic premiere set of all time and delivered the highest engagement in organized play statistics we've seen since the pandemic. We follow that with the Teenage Mutant Ninja Turtle Universes Beyond collaboration that outpaced internal expectations, more proof that our multi-franchise strategy is expanding the Magic audience. Backlist was once again a standout, setting a quarterly record thanks to demand for Avatar The Last Airbender and Final Fantasy. We're only one quarter into the year, but 2026 already represents the third largest backlist year in Magic's history. We're seeing record demand extend beyond tabletop and digital into live experiences too. MagicCon Las Vegas sold more than 23,000 badges, making it the largest Magic event ever. That demand is global. MagicCon Amsterdam is on track to sell out as well. From our tentpole MagicCons to weekly organized play events across more than 11,000 Wizards Play Network stores, the flywheel of new player acquisition, distribution growth, and durable retention are showing up in the numbers. Magic's momentum has carried into Q2, where Secrets of Strixhaven already has surpassed Laurel and Eclipsed as the largest Magic Premiere set ever. The rest of the year features a blockbuster Universe is Beyond slate with Marvel Super Heroes, The Hobbit, and Star Trek. And yesterday, in partnership with the Walt Disney Company, we announced Magic Arena will feature full digital rights for the upcoming Marvel Super Heroes launch. This is a meaningful step forward in our strategy to extend the Magic ecosystem across platforms and reach new fans wherever they play. Outside of Magic, Wizards of the Coast teams are polishing our AAA video game launches. Exodus from Archetype, and Warlock from Invoke. Both titles remain on schedule to launch next year, and we're excited to share Exodus' extended showcase with fans later this summer. D&D is on a great trajectory. We launched Dungeon Masters, our first official D&D actual play series on YouTube, featuring talent from Baldur's Gate 3 alongside top creators in the tabletop space. Turning to consumer products, We're continuing to see POS momentum with positive trends in first quarter that have continued through the end of April. With lean retailer inventories, we remain on plan to grow the segment for the year. Our focus on gem squared categories, those parts of the toy industry that are gamified, entertainment-driven, multi-purchase, and multi-generational, continues to pay dividends. These are structurally advantaged categories with above industry growth, and we gain share in many of our key categories in the first quarter. Looking ahead, we're two days away from Star Wars' return to theaters for the first time since 2019 with The Mandalorian and Grogu. We have a strong lineup of product on shelves, and if early demand for our ultimate Grogu is any indication, fans are as excited as we are. We have three additional tentpole releases ahead, including Disney and Pixar's Toy Story 5, Spider-Man Brand New Day, and Marvel Studios' Avengers Doomsday. That is a stacked content lineup that creates real opportunity across consumer products. With positive early reads from FIFA Monopoly, including blaster boxes that are resonating with collectors and live sellers alike, category-first innovation from the Play-Doh brand this summer, and K-Pop Demon Hunter's product hitting shelves in July, there's a lot to look forward to at Hasbro. Before I hand off to Gina to walk through the financials, I want to offer a sincere thank you to our team and partners for delivering a great start to 2026. I want to give a special call out to our IT, sales, finance, and operations teams that kept Hasbro open for business despite the cybersecurity incident and enhanced precautions we have taken. With that, I'll turn it over to Gina.