Sherwin-Williams Reports Earnings

This morning, Sherwin-Williams (SHW) reported third-quarter earnings of $8.29 per share. That easily beat Wall Street’s forecast of $7.75 per share. Sales rose 5.2% to $5.12 billion.

CEO John G. Morikis said, “Continued and unprecedented strength in our DIY business, solid demand across our residential repaint and new residential segments, and improving demand in our industrial coatings businesses and regions drove our strong third quarter results.”

For Q4, the company expects consolidated net sales growth of 3% to 7%. Sherwin is also raising its full-year range. The company now expects earnings for this year to range between $21.49 and $21.79 per share. The previous range was $20.96 to $21.46 per share. That excludes acquisition-related costs of $2.51 per share.

Adjusting for that, Sherwin expects $24.00 to $24.30 per share for this year. That implies Q4 earnings of $4.53 to $4.83 per share. Wall Street had been expecting $4.87 per share.

Posted by on October 27th, 2020 at 9:39 am


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