"That said, we thought the quarter was terrific," Cramer said. "Jarden’s sales growth, with outdoor up 4 percent, consumer solutions up 0.4 percent, and branded consumables up 6 percent, indicates that the company’s been taking market share and shelf space, and, even better, management raised its organic sales growth outlook ... to between 3 percent and 5 percent."
Management also reiterated that Jarden’s $500 million acquisition of Mapa Spontex Baby Care and Home Care from Total , a deal that closed April 5, should be additive to earnings this year.
"But Goldman Sachs doesn’t agree with us," Cramer continued. "They downgraded Jarden from buy to neutral after the quarter because of the company’s exposure to rising cost of raw materials like resin and metals, concerns about foreign currency exchange hurting regional sales in the second half as 50 percent of Jarden’s international exposure is in Europe, and a belief that Jarden’s long-term sales growth target seems too high."
So what’s the true story here? Cramer spoke with Jarden CEO Martin Franklin to find out. Watch the video for the full interview.
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