×

Hasbro CEO: 'Jurassic Park' a headwind, but 2017 will be stronger

Shares of Hasbro fell more than 6 percent on Monday following concerns that the company had lost its "Jurassic Park" license, but CEO Brian Goldner told Jim Cramer that 2017 could be a better year.

"We are very excited about the lineup for 2017. It's as strong, and probably stronger than 2016," Goldner said.

Hasbro reported a 2-cent earnings beat from a 39-cent expectation from Wall Street analysts and higher than expected sales that were up 10 percent year over year. However, its category aimed at boys grew by just 4 percent, down from double-digits last year.

"We had some headwinds from 'Jurassic Park,' but again a great quarter in categories and we grew in every geography around the world," Goldner said.

Brian Goldner, CEO of Hasbro featured on Mad Money with Jim Cramer on May 10, 2016.
Ashlee Espinal | CNBC
Brian Goldner, CEO of Hasbro featured on Mad Money with Jim Cramer on May 10, 2016.

Goldner confirmed that Hasbro is seeing tremendous results in its boys business thus far, especially from "Star Wars" and Nerf segments. In the fall, he expects business from "Transformers" following the launch of a new television series to perform strongly as well.

The issue of high inventories was also addressed, as Goldner pointed to Hasbro's imminent launch of its Disney princess and "Frozen" business in the third and fourth quarter of the year.

"We are building bigger global footprint for our brands, including Disney Princess and Frozen, and we need the inventories to back up the sales," he said.

Cramer speculated that shares plummeted not because of Hasbro's earnings, but simply because the stock ran too much before the quarter. Hasbro was up 26 percent for the year as of Friday's close.

"I think that sometimes having a stock that is so good that you can't possibly equal expectations. But it was a great quarter," Cramer said.


Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com