Sherwin-Williams Q2 Profit Rises - Quick Facts

(RTTNews) - Paint maker Sherwin-Williams Co. (SHW) Thursday reported second-quarter net income of $291.45 million or $2.94 per share, higher than $257.29 million or $2.46 per share in the prior year.

On average, analysts polled by Thomson Reuters expected the company to earn $2.93 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 12.1% to $3.04 billion from $2.71 billion a year ago, mainly due to higher paint sales volume in its Paint Stores Group and acquisitions. Analysts estimated revenues of $3.01 billion for the quarter.

Net sales from stores open more than twelve calendar months increased 9.8% in the quarter.

Looking ahead to the third quarter, the firm expects earnings per share to be in the range of $3.15 to $3.25. Sales are anticipated to increase of 9% to 14% compared to last year's third quarter. Street analysts expect earnings of $3.06 per share, on revenues of $3.13 billion for the quarter.

For full-year 2014, the firm expects earnings per share to be in the range of $8.50 to $8.70, including a Comex earnings per share loss of $0.35 per share. Consolidated net sales for the year are expected to increase 8% to 13% from 2013.

Analysts are looking for earnings of $8.49 per share, on revenues of $11.13 billion for the year.