Sherwin-Williams beats estimates as higher volume, selling prices, offset raw material cost increases

摘要

Sherwin-Williams (SW) reports net income up 27.3% year-on-year (YOY), to $409.6 million, on net sales up 12.3%, to $4.66 billion. Adjusted earnings increased 51.5% YOY, to $2.06/share, easily beating analysts’ consensus estimate of $1.64/share, as reported by Refinitiv (New York, New York). Volumes grew in each of the company’s operating segments, offsetting higher raw material costs. 'Our sales growth was driven by strong architectural paint demand, improving demand in the industrial end markets served, and pricing actions to offset raw material cost increases,' says John Morikis, chairman and CEO of SW. 'We leveraged this strong sales growth to solid margin expansion across all of our businesses.'