Sherwin-Williams: Q2 earnings snapshot

CLEVELAND — Sherwin-Williams Co. today reported second-quarter net income of $648.6 million.

On a per-share basis, the company said it had profit of $2.42. Earnings, adjusted for costs related to mergers and acquisitions, were $2.65 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.

The paint and coatings maker posted revenue of $5.38 billion in the period, matching Street forecasts.

Sherwin-Williams expects full-year earnings in the range of $9.15 to $9.45 per share.

Sherwin-Williams shares have increased 17% since the beginning of the year, while the S&P’s 500 index has risen 18%. The stock has increased 38% in the past 12 months.