Sherwin-Williams Co. (SHW: Quote) said for the first quarter ended March 31, 2012, it expects net income per common share to be in the range of $0.92 to $0.95 per share compared to the January guidance of $0.56 to $0.74 per share.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.
According to the company, the expected increase in first quarter net income per common share over the earlier guidance for the quarter was mainly due to strong sales and operating results of the Paint Stores Group. Net sales in the Paint Stores Group rose about 20% in the quarter primarily due to improving domestic architectural paint sales volume across all end market segments and price increases.
by RTT Staff Writer
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