echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Coatings News > Paints and Coatings Market > Sherwin-Williams first quarter net profit increased by 12% year-on-year

    Sherwin-Williams first quarter net profit increased by 12% year-on-year

    • Last Update: 2021-08-12
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On the evening of April 21, Beijing time, according to market observation reports, Sherwin-Williams Co.
    announced its financial report that the company’s first quarter profit increased by 12% year-on-year, mainly due to the strong growth in sales.
    The 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%, higher than the 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 Lowe's Cos and other large retailers
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.