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Markets :: Specialty Chemicals :: Paints and Coatings

Retail business lifts Sherwin-Williams' first-quarter profits

9:11 AM MDT | April 18, 2013 | Rebecca Coons

Sherwin-Williams (SW) reports first-quarter gains on strong demand for architectural paint at its retail paint stores and reaffirmed its forecast for more than 20% profit annual growth in 2013. The company reports net income of $119.2 million for the fiscal quarter ended 31 March, up 15.9% from the year-ago quarter. Diluted earnings of $1.11/share narrowly beat a $1.10/share consensus of analysts’ estimates compiled by Thomson Reuters (New York). Sales edged 1.4% higher, to $2.17 billion. SW's paint stores segment, which accounts for roughly half of...

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