Bloomberg News

Sherwin-Williams Net Tops Estimates as Paint Sales Climb

April 09, 2012

Sherwin-Williams Co. (SHW:US), the largest U.S. paint retailer, reported preliminary first-quarter earnings that exceeded its guidance and analysts’ estimates amid rising demand and prices.

Net income rose to 92 cents to 95 cents a share, from 63 cents a year earlier, Cleveland-based Sherwin-Williams said today in a statement. The average profit estimate (SHW:US) of 15 analysts surveyed by Bloomberg was 72 cents, while the company in January forecast profit of 56 cents to 74 cents.

Paint-store revenue increased about 20 percent because of improved sales volumes for architectural paint and higher prices, said Sherwin-Williams, which also produces paint. PPG Industries Inc. (PPG:US), the world’s second-biggest paint maker, on April 5 posted first-quarter earnings that were better than expected and said mild winter weather in the U.S. boosted sales.

Sherwin-Williams rose 1 percent to $111.83 at the close in New York. The shares gained 26 percent this year.

Complete first-quarter results will be announced on April 19, the company said.

Akzo Nobel NV (AKZA) is the world’s biggest paint maker.

To contact the reporter on this story: Jack Kaskey in Houston at jkaskey@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net


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Companies Mentioned

  • SHW
    (Sherwin-Williams Co/The)
    • $217.09 USD
    • 0.57
    • 0.26%
  • PPG
    (PPG Industries Inc)
    • $201.83 USD
    • 1.31
    • 0.65%
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