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Sherwin-Williams profit misses consensus by 17.4% in Q2

The Sherwin-Williams Company said its second-quarter normalized net income amounted to $3.77 per share, compared with the S&P Capital IQ consensus estimate of $4.56 per share.

EPS rose 4.9% year over year from $3.59.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $357.8 million, a gain of 5.3% from $339.9 million in the prior-year period.

The normalized profit margin declined to 9.6% from 10.6% in the year-earlier period.

Total revenue climbed 16.0% year over year to $3.74 billion from $3.22 billion, and total operating expenses climbed 18.0% year over year to $3.11 billion from $2.64 billion.

Reported net income fell on an annual basis to $360.9 million, or $3.80 per share, from $377.7 million, or $3.99 per share.