Jarden Corp. (JAH) said Thursday its net income and revenue climbed in the third quarter as sales of branded products rose.
The owner of brands including Crock-Pot, Mr. Coffee, Coleman camping gear and Yankee Candle said its net income grew to $108.6 million, or 87 cents per share. Excluding one-time gains and costs, the company said its profit totaled $1.17 per share. Its revenue rose 19 percent to $2.14 billion in the period, as branded product sales increased 50 percent.
Zacks Investment Research says analysts expected Jarden to report net income of $1.17 per share on $2.1 billion in revenue.
The Rye, New York, company also said it will conduct a three-for-two stock split in November. The move will increase its total share count 50 percent, to about 192.4 million shares. Investors of record as of Nov. 3 will get one additional share of Jarden for every two shares they own. The split will take effect Nov. 24.
Shares of Jarden rose $2.53, or 4.3 percent, to $61.51 in morning trading.
Jarden shares have declined roughly 4 percent since the beginning of the year. The stock has risen 12 percent in the last 12 months.
View more information: https://www.foxbusiness.com/markets/sales-of-branded-goods-lift-jarden-3q-profit-and-revenue-company-plans-3-for-2-stock-split