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Sherwin-Williams profit misses consensus by 25.2% in Q3


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Sherwin-Williams profit misses consensus by 25.2% in Q3

The Sherwin-Williams Company said its third-quarter normalized net income came to $3.51 per share, compared with the S&P Capital IQ consensus estimate of $4.69 per share.

EPS fell year over year from $3.62.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $333.9 million, a decline from $343.3 million in the year-earlier period.

The normalized profit margin fell to 7.4% from 10.5% in the year-earlier period.

Total revenue climbed 37.4% year over year to $4.51 billion from $3.28 billion, and total operating expenses rose 44.8% from the prior-year period to $3.89 billion from $2.69 billion.

Reported net income decreased 18.0% from the prior-year period to $317.0 million, or $3.33 per share, from $386.7 million, or $4.08 per share.