Sherwin-Williams Co. (NYSE:SHW) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.7%.
Sherwin-Williams Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 16.84% to $1.11 in the quarter versus EPS of $0.95 in the year-earlier quarter.
Revenue: Rose 1.44% to $2.17 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sherwin-Williams Co. reported adjusted EPS income of $1.11 per share. By that measure, the company beat the mean analyst estimate of $1.10. It missed the average revenue estimate of $2.23 billion.
Quoting Management: Christopher M. Connor, Chairman and Chief Executive Officer, said, “We are pleased to report record sales and earnings per share on the continued positive sales volume and strong operating results of our Paint Stores Group. The Paint Stores Group architectural volume growth across all end market segments was impressive considering the difficult comparisons from a year ago. Our Consumer Group improved their operating margins through improved operating efficiencies. Our Global Finishes and Latin America Coatings Groups are managing to improve their operating margins through selling price increases and good cost control despite the unfavorable effects of currency translation rate changes.”
Key Stats (on next page)…