Sherwin-Williams Co. (NYSE:SHW) delivered a profit and missed Wall Street’s expectations, AND 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 10.16%.
Sherwin-Williams Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.05% to $2.54 in the quarter versus EPS of $2.17 in the year-earlier quarter.
Revenue: Rose 5.48% to $2.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sherwin-Williams Co. reported adjusted EPS income of $2.54 per share. By that measure, the company missed the mean analyst estimate of $2.59. It missed the average revenue estimate of $2.79 billion.
Quoting Management: 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 2013 on the continued positive sales volume and strong operating results of our Paint Stores Group. The Paint Stores Group architectural volume growth was strong across all end market segments. Our Consumer Group minimized the impact on segment profit of the lost business through improved operating efficiencies. Our Global Finishes Group continues to improve its operating margins through improved operating efficiencies and good cost control. The Latin America Coatings Group is managing to improve its core operating margins through selling price increases and good cost control despite the difficult environment in which they are operating.”
Key Stats (on next page)…