Sherwin-Williams earnings for the company’s second quarter of 2019 has SHW stock up on Tuesday.
The Sherwin-Williams (NYSE:SHW) earnings report starts off bad with revenue of $4.88 billion for the second quarter of the year. This does comes in above its revenue of $4.77 billion from the same time last year. However, it misses Wall Street’s revenue estimate of $4.94 billion for the quarter, but couldn’t stop SHW stock from soaring today.
Despite the revenue miss, a strong earnings per share of $6.57 for the quarter is helping SHW stock today. This is up from the company’s earnings per share of $5.73 from the second quarter of 2018. It also easily beats out analysts’ earnings per share estimate of $6.37 for the period.
When it comes to net income for the second quarter of the year, Sherwin-Williams brought in $471.00 million. That’s an increase over the company’s net income of $403.60 million for the same period of the year prior.
“All three of our segments increased profit and margin year-over-year,” John G. Morikis, Chairman and CEO of Sherwin-Williams, said in a statement. “In The Americas Group, we generated sales growth in all end markets in our North American paint stores, led by high single digit growth in residential repaint. We leveraged the sales growth to expand segment margin by 50 basis points to 22.2%.”
SHW stock was up 7% as of Tuesday afternoon. The stock is also up 15% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.