Sherwin-Williams income, sales rise on Valspar deal

摘要

Sherwin-Williams (SW) reported first-quarter net income up 4.6% year-over-year (YOY), to $250.1 million. Net sales increased 43.6% YOY, to $3.97 billion primarily due to the Valspar addition, higher selling price and higher paint sales volume in the Americas. Excluding Valspar, sales grew 4.9% YOY during the quarter. Adjusted net income totaled $2.89/share, missing analysts’ consensus estimate of $3.52/share, as reported by Thomson Reuters (New York). Net sales in the Americas increased 6.6% to $2.08 billion in the quarter due primarily to higher architectural paint sales volume across most end market segments and selling price increases, while segment profit rose 10.5% YOY to $337.4 million.