Hasbro (NASDAQ: HAS) shares rose more than 2% in premarket trading on Tuesday after the toy maker reported fourth-quarter earnings and revenue that exceeded Wall Street expectations.

The company posted fourth-quarter earnings per share of $1.51, well above analyst forecasts of $0.95. Revenue jumped 31% year over year to $1.45 billion, surpassing the consensus estimate of $1.26 billion.

Adjusted operating profit totaled $315 million, an increase of $202 million from the prior-year period. Adjusted operating margin expanded to 21.8%, reflecting an improvement of roughly 12 percentage points compared with a year earlier.

Looking ahead to 2026, Hasbro said it expects total revenue to increase between 3% and 5% on a constant-currency basis. The company guided for an adjusted operating margin of 24% to 25% and adjusted EBITDA of $1.40 billion to $1.45 billion for the full year.

On capital allocation, Hasbro said it plans to continue investing in its core businesses while returning capital to shareholders through dividends and share repurchases. The board approved a new share repurchase authorization of up to $1.0 billion, replacing the prior program established in 2018. The company also reiterated plans to further reduce debt as part of its 2026 priorities.