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Sherwin-Williams (SHW) Q2 Earnings Miss Estimates, Sales Top

By Zacks Investment ResearchStock MarketsJul 19, 2017 09:06PM ET
www.investing.com/analysis/sherwin-williams-(shw)-q2-earnings-miss-estimates,-sales-top-200202366
Sherwin-Williams (SHW) Q2 Earnings Miss Estimates, Sales Top
By Zacks Investment Research   |  Jul 19, 2017 09:06PM ET
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Sherwin-Williams (NYSE:SHW) is a manufacturer, distributor and retailer of paint, coatings and related products. It is one of the biggest paint companies in the U.S. and in the world. Its well-known brands include Dutch Boy, Minwax and Krylon.

Sherwin-Williams remains focused on growth through acquisitions and expansion of operations. The company is gaining from favorable demand for paint and coatings in most domestic markets as well as its cost control initiatives.

Let’s have a quick look at this paint company’s second-quarter 2017 release.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Sherwin-Williams for the second quarter remained stable over the past month. The company has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters and missed in 2, with an average beat of around 2.48%.

Earnings

Sherwin-Williams’ adjusted earnings for the quarter came in at $4.52 per share. Earnings trailed the Zacks Consensus Estimate of $4.54.

Revenues

Sherwin-Williams reported revenues of $3,735.8 million, up around 16% year over year. That surpassed the Zacks Consensus Estimate of $3,571.9 million.

Key Developments to Note

Sherwin-Williams projects low to mid-single digit percentage increase in net sales, year over year for third-quarter 2017. The company expects earnings per share in the third quarter to be in the range of $3.70 to $4.10 per share, compared to $4.08 earned in the third quarter of 2016. Third-quarter earnings per share includes a $1.10 per share charge associated with the Valspar acquisition.

For full-year 2017, Sherwin-Williams projects mid-single digit percentage increase in net sales from 2016. It also sees incremental sales from the Valspar buyout to be around $2.4 billion for the year. At this level, the company now expects earnings per share from continuing operations for the year to be in the range of $12.30 to $12.70 per share, compared with $11.99 earned in 2016. The guidance includes a $2.50 per share charge related to the Valspar acquisition.

Zacks Rank

Currently, Sherwin-Williams has a Zacks Rank #1 (Strong Buy), but that could change following the company’s earnings report which was just released.

Market Reaction

Sherwin-Williams’ shares were down 2.5% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on Sherwin-Williams’ earnings report!

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Sherwin-Williams Company (The) (SHW): Free Stock Analysis Report

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Zacks Investment Research
Sherwin-Williams (SHW) Q2 Earnings Miss Estimates, Sales Top
 
Sherwin-Williams (SHW) Q2 Earnings Miss Estimates, Sales Top

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