Sherwin-Williams: 4Q Earnings Snapshot
CLEVELAND (AP) _ Sherwin-Williams Co. (SHW) on Thursday reported fourth-quarter earnings of $101 million.
On a per-share basis, the Cleveland-based company said it had net income of $1.07. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $3.54 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.56 per share.
The paint and coatings maker posted revenue of $4.06 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.05 billion.
For the year, the company reported profit of $1.11 billion, or $11.67 per share. Revenue was reported as $17.53 billion.
Sherwin-Williams expects full-year earnings in the range of $20.40 to $21.40 per share.
Sherwin-Williams shares have climbed roughly 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. The stock has fallen almost 4 percent in the last 12 months.