Sherwin-Williams Boosts FY23 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, paint and coating manufacturer Sherwin-Williams Co. (SHW) raised its earnings, adjusted earnings and sales growth guidance for the full-year 2023. The company also provided sales growth guidance for the third quarter.

For fiscal 2023, the company now projects earnings in a range of $8.46 to $8.86 per share and adjusted earnings in a range of $9.30 to $9.70 per share on consolidated net sales growth in low-single digit percentage.

Previously, the company expected earnings in a range of $6.79 to $7.59 per share and adjusted earnings in a range of $7.95 to $8.65 per share on consolidated net sales between down in mid-single digit percentage and flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.82 per share on net sales decline of 0.6 percent to $22.02 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company anticipates consolidated net sales to be up or down in low-single digits from last year, while analysts are looking for a decline of 5.6 percent to $5.71 billion.

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