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Sherwin-Williams Q3 profit climbs 19.6% YOY

The Sherwin-Williams Company said its third-quarter normalized net income was $3.68 per share, compared with the S&P Capital IQ consensus estimate of $3.87 per share.

EPS rose 23.2% year over year from $2.99.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $345.5 million, an increase of 19.6% from $288.9 million in the year-earlier period.

The normalized profit margin increased to 11.0% from 9.2% in the year-earlier period.

Total revenue came to $3.15 billion, compared with $3.15 billion in the prior-year period, and total operating expenses fell from the prior-year period to $2.58 billion from $2.68 billion.

Reported net income rose 15.0% from the prior-year period to $372.9 million, or $3.97 per share, from $324.3 million, or $3.35 per share.