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SHW AG Q2 profit climbs 35.3% YOY

SHW AG said its second-quarter normalized net income was 70 euro cents per share, compared with the S&P Capital IQ consensus estimate of 76 cents per share.

EPS rose 23.0% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.5 million, an increase of 35.3% from €3.3 million in the year-earlier period.

The normalized profit margin increased to 3.7% from 3.1% in the year-earlier period.

Total revenue rose 14.8% on an annual basis to €123.1 million from €107.3 million, and total operating expenses grew 15.1% from the prior-year period to €116.9 million from €101.6 million.

Reported net income grew 39.8% year over year to €5.5 million, or 86 cents per share, from €4.0 million, or 68 cents per share.