Jarden Corporation expects sales in its fourth quarter of at least $2.4 billion, above Wall Street’s consensus estimate of $2.32 billio. Fourth quarter adjusted EPS are expected to meet or exceed the current consensus estimate of $1.11.
Jarden said strong sales counterbalanced the significant negative impact of foreign currency in the quarter.
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.
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.”
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.”