Sherwin-Williams (SHW) Q1 Earnings, Revenues Top Estimates
Zacks Investment Research | Apr 20, 2017 12:22AM ET
The Sherwin-Williams Company’s (NYSE:SHW) earnings, excluding costs related to the proposed acquisition of Valspar (NYSE:VAL) and gains from reduction in income tax provision, were $2.27 per share in first-quarter 2017. Adjusted earnings beat the Zacks Consensus Estimate of $2.07. Reported earnings improved to $2.53 per share from $1.75 per share a year ago.
Improved operating results at the Paint Stores and Global Finishes Groups led to the earnings upside. However, currency translation rate changes did not have a significant impact on earnings in the quarter.
Sherwin-Williams, whose well-known brands include Dutch Boy, Minwax and Krylon, recorded net sales of $2,761.4 million in the first quarter, marking a 7.3% year-over-year rise. Revenues beat the Zacks Consensus Estimate of $2,740 million.
Increased paint sales volumes in Sherwin-Williams’ Paint Stores Group and a change in revenue classification led to higher sales.
Sherwin-Williams Company (The) Price, Consensus and EPS Surprise
Paints & Allied Products industry’s 1.9% growth.
Zacks Rank & Other Stocks to Consider
Sherwin-Williams currently carries a Zacks Rank #2 (Buy).
Other top ranked companies in the basic material space include Univar Inc. (NYSE:UNVR) and The Chemours Company (NYSE:CC) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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