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Sherwin-Williams Q2 profit climbs 16.9% YOY

The Sherwin-Williams Company said its normalized net income for the second quarter was $3.37 per share, compared with the S&P Capital IQ consensus estimate of $3.82 per share.

EPS rose 22.3% year over year from $2.75.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $317.0 million, a gain of 16.9% from $271.3 million in the prior-year period.

The normalized profit margin increased to 10.1% from 8.9% in the year-earlier period.

Total revenue grew on an annual basis to $3.13 billion from $3.04 billion, and total operating expenses totaled $2.61 billion, compared with $2.60 billion in the prior-year period.

Reported net income rose 20.2% from the prior-year period to $348.4 million, or $3.70 per share, from $289.8 million, or $2.94 per share.