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    Home > Coatings News > Paints and Coatings Market > Sherwin-Williams Coatings Q1 net profit of US$147.1 million increased by 12% year-on-year

    Sherwin-Williams Coatings Q1 net profit of US$147.1 million increased by 12% year-on-year

    • Last Update: 2021-07-29
    • Source: Internet
    • Author: User
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    Global Coatings Network News:


    Global Coatings Network News:


    Sherwin-Williams Co.
    (Sherwin-Williams Co.
    ) announced its financial report that the company's first-quarter profit increased by 12% year-on-year, mainly due to strong sales growth that pushed it to achieve better-than-expected revenue growth.

      The report shows that Sherwin-Williams Coatings' first-quarter net revenue was US$2.
    57 billion, an increase of 5.
    1% year-on-year; net profit was US$147.
    1 million, and earnings per share were US$1.
    57, which were higher than the US$131.
    4 million and 1.
    38 cents in the same period last year.
    Excluding one-off items such as merger-related costs, adjusted earnings per share were US$1.
    81.
    The company previously expected earnings per share to be between US$1.
    50 and US$1.
    65, and revenue growth would be low single digits.
    The gross profit margin for the quarter was 49%, which was higher than 46.
    2% in the same period last year.

      Consumer group sales increased by 7.
    5% year-on-year to US$378.
    1 million, and paint shop group net sales increased by 11% to US$1.
    62 billion.

      For the current fiscal quarter, Sherwin-Williams predicts that its earnings per share will be between $3.
    95 and $4.
    15, and net sales will achieve low to mid-single-digit growth.
    According to a Thomson Reuters survey, analysts on average expect earnings per share of 4.
    10 U.
    S.
    dollars and revenue growth of 3% to 3.
    22 billion U.
    S.
    dollars.
    For the 2016 fiscal year, Sherwin-Williams predicts that its earnings per share will be between US$12.
    50 and US$12.
    70, which is higher than the previously expected US$12.
    20 to US$12.
    40.

      Sherwin-Williams Coatings announced the acquisition of its competitor Valspar for more than US$9 billion last month.
    This transaction will help Sherwin-Williams Coatings products enter large retailers such as Lowe's Cos.
    (Source: Global Coatings Network) (For more information, please log in: Global Coatings Network
    http:// )





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