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Shares of Jarden Corp (NYSE: JAH) surged nearly 2 percent in Tuesday’s pre-market following the company’s announcement of preliminary results for the fourth quarter ended December 31, 2014.
The company expected net sales of at least $2.4 billion for the fourth quarter of 2014, above estimates of $2.32 billion
Fourht quarter adjusted earnings per share are expected to meet or exceed the current consensus estimate of $1.11.
Full year 2014 adjusted earnings per share are expected to meet or exceed the consensus estimate, before giving effect to the favorable impact of tax credits and other changes enacted in December 2014 resulting in a lower effective tax rate.
For 2015, the company anticipated organic net sales growth to be within its long-term average target range of 3-5 percent.
Adjusted earnings per share in 2015 are expected in the range of $2.75-$2.90. Analysts had estimated $2.93.
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Martin E. Franklin, Executive Chairman, commented, "We delivered our strongest organic growth performance for 2014 in Q4 and anticipate that the positive momentum from 2014 will continue into 2015, despite the foreign currency headwinds being experienced by many of our international businesses."
Jarden Corp traded at $47.00 in the pre-market, up 1.82 percent.