Valspar’s Earnings Increase

Valspar’s second-quarter 2012 net earnings grew 36% year-on-year, to $76.5 million. Adjusted earnings were $111 million, increasing 32% and excluding restructuring charges and income taxes. The company’s net sales grew 4% on-year, to $1.03 billion. Adjusted earnings of 64 cts/share were in line with analyst estimates, according to Thomson Reuters (New York). “We were pleased with our performance in the quarter,” says Gary Hendrickson, president and CEO. “Our earnings growth was driven by new business in our industrial product lines...

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