Sherwin-Williams: 2Q Earnings Snapshot
CLEVELAND (AP) _ Sherwin-Williams Co. (SHW) on Tuesday reported second-quarter profit of $403.6 million.
The Cleveland-based company said it had net income of $4.25 per share. Earnings, adjusted for non-recurring costs, were $5.73 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.59 per share.
The paint and coatings maker posted revenue of $4.77 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $4.71 billion.
Sherwin-Williams expects full-year earnings in the range of $19.05 to $19.35 per share.
Sherwin-Williams shares have climbed almost 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has increased 20 percent in the last 12 months.