Sherwin Williams 2Q Results: Postgame Scorecard
Sherwin Williams (NYSE:SHW) saw its profit decline in the second quarter.
Earnings and Revenue The company posted an EPS above analyst expectations, though revenues fell short of predictions. The company reported EPS of $2.17 a share versus the $2.11 a share estimate and revenues of $2.57 billion versus the $2.66 billion estimate. The estimates of 12 analysts ranged from profit of $2.04 to profit of $2.17.
The company's net income for the quarter was $227,813. According to the reported number, this is down 99.9% from last year's levels. Revenue climbed 9.3% from $2.35 billion in the same period last year.
Company Fundamental Trends The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by one cent in the first quarter, 3 cents in the fourth quarter of the last fiscal year and one cent in the third quarter of the last fiscal year.
Official Comment: Commenting on the financial results, Christopher M. Connor, Chairman and Chief Executive Officer, said, "We are pleased to report record sales and earnings per share in the second quarter and first half of 2012 on the continued positive sales volume and strong operating results of our Paint Stores, Consumer and Global Finishes Groups. Selling price increases implemented across all segments in the previous twelve months are gaining traction against the higher raw material costs. The Paint Stores Group volume growth was strong across all end market segments. Our Consumer Group improved their operating results through disciplined cost control and selling price increases. Our Global Finishes Group improved paint sales volume and operating results in an increasingly difficult global environment. The Latin America Coatings Group is managing to minimize the unfavorable effects of currency and the softening demand in their end markets."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.