Sherwin Williams 2Q Profit Tops Estimates on Price Increases
25 Juillet 2023 - 1:44PM
Dow Jones News
By Ben Glickman
Sherwin Williams' profit topped forecasts in the second quarter
as price increases across its businesses and more sales from its
paint stores boosted earnings.
The Cleveland, Ohio-based paint company said it had
second-quarter profit of $794 million, or $3.10 a share, compared
with $678 million, or $2.24 a share, a year ago. Analysts polled by
FactSet expected per-share profit of $2.58.
Sherwin Williams' sales rose 6.3% to $6.24 billion, beating the
$6.034 billion forecast by analysts polled by FactSet.
Higher selling prices across all business segments, lower raw
material costs and more sales in the company's Paint Stores Group
lifted earnings, the company said.
Same-store sales, which represents sales at stores open for more
than a year, rose 9.5%.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 25, 2023 07:29 ET (11:29 GMT)
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