Sherwin-Williams: 2Q Earnings Snapshot
CLEVELAND (AP) _ Sherwin-Williams Co. (SHW) on Tuesday reported second-quarter profit of $471 million.
The Cleveland-based company said it had net income of $5.03 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $6.57 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $6.35 per share.
The paint and coatings maker posted revenue of $4.88 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $4.92 billion.
Sherwin-Williams expects full-year earnings in the range of $20.40 to $21.40 per share.
Sherwin-Williams shares have climbed 16% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. The stock has increased nearly 7% in the last 12 months.