Sherwin-Williams Earnings Fall on Tax Charge; Adjusted EPS Narrowly Beats Estimates

Sherwin-Williams reported fourth-quarter net income of $14.6 million, or 14 cts/share, down 80% from the same period a year-ago on a one-time tax charge. The tax charge was related to a $75 million settlement of an IRS audit of Sherwin Williams’ employee stock ownership plan. Adjusting for the tax charge, earnings totaled 84 cts/share, narrowly beating analysts’ consensus of 83 cts/share, as reported by Thomson Reuters (New York).   Sales in the quarter rose 9.2% year-on-year, to $2.07 billion, on higher selling prices, acquisitions and higher...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers