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Sherwin-Williams beats estimates on sales increase

11:00 AM MDT | April 17, 2014 | Vincent Valk

Sherwin-Williams (SW) has reported first-quarter net income down 0.6% year-on-year (YOY), to $115.5 million, on sales up 9.2%, to $2.37 billion. Earnings totaled $1.14/share, including a 12 cts/share loss related to the Comex acquisition. SW terminated its bid to acquire Comex’s Mexico operations during the quarter, though the company has already closed the acquisition of Comex’s business in the US and Canada. Earnings beat analysts’ consensus estimate of $1.11/share, as reported by Thomson Reuters (New York). “The paint stores...

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