The Sherwin-Williams Company said its fourth-quarter normalized net income amounted to $1.94 per share, compared with the S&P Capital IQ consensus estimate of $2.20 per share.
EPS declined year over year from $2.00.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $183.4 million, a decline from $186.1 million in the prior-year period.
The normalized profit margin fell to 6.6% from 7.1% in the year-earlier period.
Total revenue rose 6.8% year over year to $2.78 billion from $2.60 billion, and total operating expenses climbed 7.2% on an annual basis to $2.45 billion from $2.29 billion.
Reported net income increased from the prior-year period to $202.9 million, or $2.15 per share, from $198.3 million, or $2.13 per share.
For the year, the company's normalized net income totaled $10.81 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $12.30.
EPS rose from $10.23 in the prior year.
Normalized net income was $1.02 billion, a gain from $967.6 million in the prior year.
Full-year total revenue grew from the prior-year period to $11.86 billion from $11.34 billion, and total operating expenses grew on an annual basis to $10.08 billion from $9.72 billion.
The company said reported net income grew on an annual basis to $1.13 billion, or $11.99 per share, in the full year, from $1.05 billion, or $11.15 per share.
