By Allison Prang

Sherwin-Williams Co. raised its earnings guidance for the year.

The company now expects earnings to be between $21.49 and $21.79 a share, Chief Executive and Chairman John Morikis said Tuesday in prepared remarks. Sherwin-Williams had been expecting between $20.96 and $21.46 a share.

For adjusted earnings, the company expects between $24.00 and $24.30 a share, the CEO said. According to FactSet, analysts expect $23.71 a share.

The company said its adjusted-earnings guidance excludes $2.51 a share in acquisition-related amortization expense. It said it earlier had expected that expense to be about $2.54 a share.

The company now expects net sales to climb by a low single-digit percentage for the year and for fourth-quarter net sales to rise between 3% and 7%, Mr. Morikis said. Sherwin-Williams had been expecting net sales to be between flat and up slightly compared with the prior year.

Write to Allison Prang at allison.prang@wsj.com

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10-27-20 0804ET