Sherwin Williams Reports Increased Q1 Earnings; Beats Estimates (SHW)

Paint product retailer, Sherwin-Williams Company (SHW) reported higher first quarter earnings on Wednesday, which came in above analysts estimates.

The Cleveland, OH based company reported first quarter earnings of $116.18 million, or $1.11 per share, up 13% from $100.22 million, or 95 cents per share last year. Analysts estimated EPS of $1.10.

Revenue rose to $2.17 billion from $2.14 billion last year, but fell below the average analyst estimate of 2.23 billion.

The company’s paint store group saw a 4% upside in sales to $1.17 billion, while same stores sales increased by 3%. The global finishes group saw a slight increase of 0.8% in sales to $489.8 million. Consumer group sales dropped -3.7% to $308.6 million.

Looking forward to the second quarter, the company expects to see an increase of 5-9% in its consolidated net sales. Earnings are expected to be in the range of $2.50 to $2.60 per share. Analysts expect to see EPS of $2.56 and $2.84 billion in revenue.

For FY2013, the company expects to see consolidated sales to increase by a mid single digit percentage from its 2012 results. SHW maintained its previous valuation range of $7.45 to $7.55 per share, which would fall below the average analyst estimate of $7.82 per share. Analysts are expecting to see full year revenue of $10.49 billion.

Sherwin-Williams shares were up $1.86, or 1.09% during Thursday morning trading. The stock has increased 47% in the past year.

The Bottom Line
Shares of Sherwin-Williams Company (SHW) have a 1.15% yield, based on Thursday morning’s price of $173.20.

Sherwin-Williams Company (SHW) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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