Sherwin-Williams Co. (SHW) reported that its first-quarter net income rose to $116.18 million from $100.22 million in the same quarter last year.
Net income per share for the quarter increased to $1.11 per share in the quarter compared to $0.95 per share in 2012 due primarily to improved operating results of the Paint Stores and Global Finishes Groups. Analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.Unfavorable currency translation rate changes decreased net income per common share by $0.02 per share in the quarter. Acquisitions had no significant effect on net income per common share in the quarter, the company.
Consolidated net sales increased 1.4%,to $2.17 billion from $2.14 billion in the year ago quarter due primarily to higher paint sales volume in its Paint Stores Group. Acquisitions increased consolidated net sales 1.0%, which offset the impact of unfavorable currency translation rate changes in the quarter. Eight analysts had consensus revenue estimate of $2.23 billion for the quarter.
For the second quarter, the company anticipates its consolidated net sales will increase five to nine percent compared to last year's second quarter. The company estimates net income per common share in the second quarter to be in the range of $2.50 to $2.60 per share. Analysts expect the company to report earnings of $2.56 per share on revenues of $2.84 billion for the second-quarter.
For the full year 2013, the company expects consolidated net sales to increase above 2012 levels by a mid single digit percentage. The company also reaffirmed its 2013 net income per share guidance in a range of $7.45 to $7.55. Analysts expect the company to report earnings of $7.82 per share on revenues of $10.49 billion for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.