* Q2 adj EPS $1.14 vs est EPS $1.10
* Q2 sales flat at $1.67 bln vs est $1.66 bln
* Shares soft but up 45 percent so far in 2012
By Arpita Mukherjee
July 24 Jarden Corp, the maker of Mr.
Coffee, posted a quarterly profit that beat Wall Street
expectations, boosted by higher demand for its household
products that offset weakness at its outdoor business.
Excluding items, the company earned $1.14 per share, topping
analyst expectations for the 14th quarter in a row.
Jarden Executive Chairman Martin Franklin said diversity in
the consumer goods portfolio was driving the company's
performance, despite the economic slowdown that has hit consumer
Since most of the company's products are relatively
inexpensive, consumers still buy them in tough times, said
Oppenheimer & Co analyst Joseph Altobello.
"They are not purchases that consumers push off in tough
times," he said.
Analysts believe Jarden will continue to do well in the
second half of the year.
"With key commodities continuing to recede, we have
increased confidence that the company will at least hit the high
end of its 50-100 basis points gross margin improvement goal for
2012," analyst William Chappell of SunTrust Robinson Humphrey
wrote in a client note.
Jarden, whose products range from Sunbeam electric blankets
and Crock-Pots to Coleman camping gear and Marmot clothing,
increased its gross margins to 29.6 percent, up 110 basis points
from 28.5 percent a year earlier.
Franklin said his company was benefiting from less
volatility in commodity prices.
"Prices have been fairly consistent in the last couple of
quarters. we think that is going to continue for the foreseable
future, so we don't see a lot of input costs increases. We don't
see declines either," he said.
Jarden -- named by Franklin as a play on its Ball canning
jars and its products for the home, or den -- earned $83.2
million, or $1.08 per share, for the second quarter, up 13
percent from $73.9 million, or 83 cents per share, a year
Excluding items, the company earned $1.14 per share.
Jarden, which supplies products to retailers including
Wal-Mart Stores Inc, Target Corp and Bed, Bath
and Beyond, said revenue was flat at $1.67 billion.
Analysts on average had expected earnings of $1.10 per
share, on revenue of $1.66 billion, according to Thomson Reuters
Jarden's shares were down slightly at $43.37 on Tuesday on
the New York Stock Exchange but have gained 45 percent so far