AP NEWS
Click to copy
Click to copy

Sherwin-Williams: 2Q Earnings Snapshot

July 23, 2019

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.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHW at https://www.zacks.com/ap/SHW

All contents © copyright 2019 The Associated Press. All rights reserved.