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Sherwin-Williams Lifts Q1 Forecast - Quick Facts

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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.

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by RTT Staff Writer

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After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June. After showing a lack of direction throughout much of the previous session, stocks may move to the downside in early trading on Friday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 23 points. British economic growth remained high as expected in the second quarter as a robust expansion in the dominant service sector, and industry completely offset the slight weakness in the construction sector. With the second quarter expansion, GDP returned to its pre-crisis level. Gross domestic product grew 0.8 percent sequentially in the second quarter, the same rate as seen in the first quarter.
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