NEW YORK (TheStreet) -- Shares of Newell Brands (NWL) - Get Report , the Atlanta-based parent company to brands such as Sharpie, Rubbermaid and Calphalon, are rising 6.52% to $52.62 this morning after the company posted 2016 second quarter earnings that exceeded expectations before today's opening bell.
Adjusted earnings for the period of 78 cents per share beat analysts' estimates of 72 cents per share. Revenue climbed 147.2% year-over-year to $3.86 billion from $1.56 billion, which was higher than Wall Street's expected $3.76 billion.
In April, Newell Brands completed a $15 billion acquisition of Jarden (JAH), a consumer products company which was home to brands like Mr. Coffee machines and Coleman camping gear.
The massive year-over-year climb in revenue is largely attributable to the acquired Jarden business.
"We are making good progress on the integration of the legacy Newell Rubbermaid and Jarden businesses," CEO Michael Polk said in a statement. "Importantly, the strategic analysis critical to re-shaping our priorities and investment choices is well under way."
Newell plans to exit or sell businesses representing $250 million to $300 million in revenue over the next two to three years. It hopes to start that process by year's end 2016.
The company affirmed its 2016 earnings guidance of $2.75 to $2.90 per share.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: NWL