Sherwin-Williams 3Q Net Tops Views as Sales Grow
24 Outubro 2023 - 8:50AM
Dow Jones News
By Rob Curran
Sherwin-Williams posted third-quarter net income growth above
Wall Street expectations as demand for repainting properties grew
despite the recent slowdown in the housing market.
The Cleveland-based paint maker logged third-quarter earnings of
$761.5 million, or $2.95 a share, for the quarter ended Sept. 30,
up from $685.1 million, or $2.62 a share, a year earlier. Stripping
out certain items, Sherwin posted adjusted earnings of $3.20 a
share, eclipsing the average Wall Street target of $2.78 a share,
as tallied by FactSet.
Third-quarter sales rose 1.1% to $6.12 billion, topping the
average Wall Street target of $6.02 billion, as per FactSet.
Sherwin-Williams cited strong sales of marine, protective and
commercial paints.
Demand for residential repainting products also increased. Paint
sales for new homes declined.
Consumer brand sales suffered from a slowdown in do-it-yourself
home improvement in North America.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 24, 2023 07:35 ET (11:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Sherwin Williams (NYSE:SHW)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Sherwin Williams (NYSE:SHW)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024