Sherwin-Williams 4Q Sales Rise on Paint Stores Group Segment Results
2024年1月25日 - 9:44PM
Dow Jones News
By Denny Jacob
Sherwin-Williams posted slightly higher sales in its latest
quarter, aided by results in its paint stores group segment.
The paint and coating company logged net income of $356.2
million, or $1.39 a share, for the fourth quarter ended Dec. 31,
down from $386.3 million, or $1.48 a share, a year earlier.
Adjusted earnings were $1.81 a share, a touch above analysts'
estimates of $1.80.
Sales edged up $5.25 billion from $5.23 billion. Analysts polled
by FactSet expected $5.23 billion.
Sherwin-Williams said sales increased primarily due to an
increase in paint stores group sales volume, which was partially
offset by lower net sales volumes in its performance coating and
consumer brands groups.
"From a segment perspective, paint stores group overcame a
difficult demand environment characterized by challenging
conditions in new residential and existing home sales markets to
deliver high-single digit percentage growth against a low-teens
comparison, while also expanding its segment margin," said Chief
Executive Heidi Petz.
For the first quarter, the Cleveland, Ohio-based company
forecast sales to be up or down at a low-single digit percentage.
For 2024, Sherwin-Williams forecast sales to be up at a low to
mid-single digit percentage as well as adjusted earnings per-share
in the range of $10.85 and $11.35. Analysts polled by FactSet
expected adjusted earnings per-share of $11.34 in 2024.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 25, 2024 07:29 ET (12:29 GMT)
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