Jarden (JAH) Guides Q1 EPS Above The Street
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Jarden Corporation (NYSE: JAH) expects that revenue for the first quarter of 2009 will be approximately $1.14 billion as compared to $1.22 billion in the prior year and the consensus of $1.11 billion. Approximately two-thirds of this difference was foreign exchange related. The first quarter segment earnings are expected to be in the range of $90 to $92 million resulting in estimated adjusted diluted earnings per share of $0.21 to $0.23, above the consensus of $0.12.
Martin E. Franklin, Chairman and Chief Executive Officer of Jarden Corporation, stated, "Our belief that market leading brands in defensible niche markets fare better than their competitors in recessionary environments was borne out by Jarden's first quarter performance. Our strong sales and segment earnings performance was on the back of organic growth within our consumer solutions business, with our other segments performing in line with expectations. While our first quarter results will not be final until we announce earnings later this month, based on the positive start to the year we believe that we will meet or exceed the analysts' consensus estimates for as adjusted EPS for 2009. We look forward to commenting in more detail on our first quarter results during our regular quarterly conference call later this month."
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