Sherwin-Williams 1Q Profit Rises, Beats Views
April 29 2020 - 7:48AM
Dow Jones News
By Adriano Marchese
Sherwin-Williams Co. said Wednesday that first-quarter profit
rose by 31%, and that it anticipates a challenging second quarter
as the uncertainties of the pandemic continue to be felt across the
business.
The Cleveland-based paints and coatings company said it earned a
quarterly profit of $321.7 million, or $3.46 a share, compared with
$245.2 million, or $2.62 a share, for the same period last
year.
Excluding items, Sherwin-Williams reported an adjusted profit of
$4.08 a share for the quarter, compared with $3.60 a share last
year and analysts forecasts of $3.92 a share, taken from
FactSet.
Sales in the period rose to $4.15 billion from $4.04
billion.
The company noted that, given the trends and indicators, it
anticipates second-quarter consolidated net sales will decrease by
a low-to-mid-teens percentage versus the second quarter of
2019.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2020 07:33 ET (11:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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