Sherwin-Williams Records Higher 3Q Results, Revises Guidance

   By Dave Sebastian

Sherwin-Williams Co. (SHW) said its third-quarter net income rose as revenue increased.

The building-materials company posted net income of $576.4 million, or $6.16 a share, up from $354 million, or $3.72 a share, in the comparable quarter last year. Analysts polled by FactSet were expecting $6.33 a share.

Sales for the quarter rose to $4.87 billion from $4.73 billion a year ago. Analysts were expecting $4.83 billion.

The Cleveland company also narrowed the range of its full-year adjusted per-share earnings guidance to between $20.90 and $21.30 from between $20.40 and $21.40. It said it expects full-year earnings to be between $17.07 a share and $17.47 a share, compared with its previous guidance of $16.14 a share to $17.14 a share.

Sherwin-Williams said it sees sales to increase by a low single digit percentage for the fourth quarter, and likewise for the full year.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 22, 2019 08:10 ET (12:10 GMT)

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