Jarden Corporation expects net sales of at least $2.4 billion for the fourth quarter of 2014, driven by strong organic growth. The owner of The Coleman Co., K2, Marmot, Rawlings and two dozen other sporting goods brands also expects adjusted earnings per share to meet or exceed the current Wall Street analysts' consensus estimate, with strong sales counterbalancing the significant negative impact of foreign currency in the quarter.
Full year 2014 adjusted earnings per share are similarly expected to meet or exceed the consensus estimate, before giving effect to the favorable impact of tax credits and other changes enacted in Dec. 2014 resulting in a lower effective tax rate. The company expects organic net sales growth for the full year to be at the higher end of its long-term average target range of 3-5 percent.
For 2015, the company anticipates organic net sales growth to be within its long-term average target range of 3-5 percent. Including the negative impact of current foreign currency rates, the company expects to deliver adjusted earnings per share in 2015 in the range of $2.75-$2.90.
“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,” said Jarden's Executive Chairman Martin E. Franklin.
CEO James E. Lillie said the downward price volatility in the commodity markets has many tangential implications for consumer products companies.
“But we believe the most important will be the increase in the real purchasing power of consumers during 2015, which in turn provides our businesses the opportunity for additional growth,” Lillie said. “We look forward to reporting our final 2014 financial results, as well as a more detailed outlook for 2015, on our scheduled quarterly conference call.”
