Sherwin-Williams beats estimates on higher prices, paint stores' volumes

Sherwin-Williams (SW) reported third-quarter net income rose 31% year-on-year (YOY), to $235 million, or $2.24/share. Earnings beat analysts’ estimates of $2.20/share, as reported by Thomson Reuters (New York). Sales were up 4.8%, to $2.6 billion, as higher selling prices and rising volumes in the paint stores group offset raw material cost increases and the impact of a strong dollar.   The company also raised its full-year 2012 earnings guidance about 2.4% YOY, to $6.35–6.55/share, assuming a mid–single-digit percentage sales...

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