Sherwin-Williams reports record sales due to high results in paint store group

Higher paint sales volumes and selling price increases contributed to Sherwin-Williams’ (SW) strong fourth quarter—with sales up 7%, to $2.22 billion, year-on-year (YOY). Net income grew 7-fold, to $117.0 million. Earnings per share of $1.12/share fell slightly below analyst estimates of $1.16/share, according to Thomson Reuters (New York), and included asset impairment charges and in income tax expense of 70 cts/share relating to an IRS settlement. “We are pleased to report record highs for multiple financial measures in 2012, including...

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