Jarden Corp , maker of Sunbeam appliances and other home products, said on Monday it expects to meet or exceed analysts' profit and sales expectations when it reports second-quarter results later this week, sending its shares up 1.5 percent.
Jarden issued the same forecast at an Oppenheimer conference last week. The company wanted to make sure that investors who did not hear that presentation had the same information as those who did, said Chairman and Chief Executive Martin Franklin.
Therefore, the company issued a brief statement with its outlook in a filing with U.S. regulators Monday morning, two days before it will report full second-quarter results.
Jarden, which has benefited as consumers seek lower-priced goods in the recession, said it expects to meet or exceed analysts' consensus estimates for earnings per share. It also expects revenue to be in line with or slightly better than analysts' estimates.
Analysts on average expect Jarden to post a second-quarter profit of 55 cents per share on revenue of $1.25 billion, according to Reuters Estimates.
Shares of Jarden, which also makes Mr. Coffee coffee makers and Bicycle playing cards, were up 1.5 percent to $21.32 in early trade on the New York Stock Exchange. The shares jumped 4.7 percent to $19.82 on July 14, the day of its Oppenheimer presentation. They rose in following days and are trading near their highest level in nine months.
Jarden plans to release second-quarter results on July 22.
(Reporting by Jessica Wohl; Editing by Lisa Von Ahn and John Wallace)