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Markets :: Specialty Chemicals :: Paints and Coatings
Sherwin-Williams earnings rise but fall short of estimates
12:47 PM MDT | July 18, 2013 | Vincent Valk
Sherwin-Williams (SW) today reported second-quarter net income of $257.3 million, up 12.9% year-on-year (YOY), on consolidated net sales of $2.71 billion, up 5.5%, as volumes rose in the company’s paint stores group. Adjusted earnings totaled $2.54/share, below analysts’ consensus estimate of $2.59/share, as reported by Thomson Reuters (New York). Paint stores' group sales were up 8% YOY, to $1.61 billion, while segment profit rose 24.7%, to $333 million. Higher architectural paint volumes drove the increases, while sales from stores open for...
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