Sherwin-Williams Cuts Guidance on Valspar Costs -- Market Talk

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10:02 ET - Sherwin-Williams reduces its full-year EPS target range by more than $1 on higher costs associated with its Valspar acquisition. The paint company now guides EPS of $11.20-$11.50, down from its prior target of $12.30-$12.70, citing increased integration costs and lower-than-expected Valspar-related profit. Sherwin-Williams also says the recent hurricanes in Texas, Florida and the Caribbean reduced sales by about $50M -- at the low-end of prior estimates -- and cut into EPS by about 27 cents in its 3Q. Still revenue increased 37% to $4.51B, driven by the paint-maker's acquisition of Valspar. Shares rise 1.2% in early trading. (austen.hufford@wsj.com; @austenhufford)

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October 24, 2017 10:17 ET (14:17 GMT)