Jarden Corp. Beats; Sees Long-Term Growth in 3-5% Range (JAH)
Jarden Corp. (NYSE: JAH) reports Q3 earnings of $0.96 versus consensus of $0.94. Jarden Corp. reports revenues of $1.60 billion versus consensus of $1.55 billion.
Revenues increased 18.5% year over year.
"Our third quarter results, which were led by another solid performance in our Outdoor Solutions and Consumer Solutions segments, once again demonstrate that Jarden continues to execute well in the current macro environment," said Martin E. Franklin, Chairman and Chief Executive Officer of Jarden Corporation. "Overall organic sales for the quarter increased more than seven percent. Notably, we achieved record segment earnings as consumers continued to turn to Jarden's portfolio of leading brands and innovative products."
Mr. Franklin continued, "The business has performed exceptionally well year-to-date, growing in many of our existing categories, leveraging our brands into adjacent categories, and expanding our presence in under-penetrated geographies. Based on current trends within our businesses, we believe that organic top-line growth will continue in 2011 within our 3-5% long-term range. At the same time, we are focusing on enhancing our margins through continuous operational improvement initiatives, new product introductions and pricing to partially offset the cost increases experienced in 2010."
Shares of JAH did not trade in the after-hours as of the time of this writing.
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