|Delayed - 09/30 04:10:00 pm|
Sherwin Williams : 1Q Profit Rises, Beats Views
|04/29/2020 | 07:34am|
By Adriano Marchese
Sherwin-Williams Co. said Wednesday that first-quarter profit rose by 31%, and that it anticipates a challenging second quarter as the uncertainties of the pandemic continue to be felt across the business.
The Cleveland-based paints and coatings company said it earned a quarterly profit of $321.7 million, or $3.46 a share, compared with $245.2 million, or $2.62 a share, for the same period last year.
Excluding items, Sherwin-Williams reported an adjusted profit of $4.08 a share for the quarter, compared with $3.60 a share last year and analysts forecasts of $3.92 a share, taken from FactSet.
Sales in the period rose to $4.15 billion from $4.04 billion.
The company noted that, given the trends and indicators, it anticipates second-quarter consolidated net sales will decrease by a low-to-mid-teens percentage versus the second quarter of 2019.
Write to Adriano Marchese at firstname.lastname@example.org