Sherwin-Williams: 2nd quarter earnings snapshot

CLEVELAND — Sherwin-Williams Co. today reported second-quarter net income of $595.9 million.

On a per-share basis, the company said it had profit of $6.48. Earnings, adjusted for costs related to mergers and acquisitions, were $7.10 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $5.69 per share.

The paint and coatings maker posted revenue of $4.6 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.56 billion.

Sherwin-Williams expects full-year earnings in the range of $21.75 to $23.25 per share.

Sherwin-Williams shares have risen 7% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased 23% in the past 12 months.

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