by InvestorPlace Staff | July 19, 2012 11:21 am
Sherwin Williams (NYSE:SHW), a member of InvestorPlace‘s Real American Index, continued its momentum in the second quarter. The paint-maker saw both profits and revenue jump thanks to higher prices and strong sales and operating results.
Earnings totaled $228 million, or $2.17 a share — 4 cents above analyst expectations and up 27% from earnings of $1.66 per share the same time last year .
Revenue, which was reduced 2.5% because of a negative currency impacts, still managed to jump almost 10% to $2.6 billion. It fell slightly short of Wall Street, though, which had been expecting almost $2.7 billion. Same store sales saw a 14% jump for the quarter as well.
For Q3, SHW expects an EPS range of $2.05 to $2.20, in tune with analyst expectations of $2.15 a share. The year outlook was also raised to between $6.20 and $6.40 per share — a solid increase from earnings per share totaling $4.14 in 2011.
The Cleveland-based company is up nearly 40% year-to-date. Shares shares still couldn’t get a break Wednesday, though, dropping nearly 3% in the morning.
-Alyssa Oursler, InvestorPlace Editorial Assistant
Source URL: http://investorplace.com/2012/07/sherwin-williams-continues-to-roll-in-q2/
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