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SHW Sherwin Williams

347.33
0.44 (0.13%)
29 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sherwin Williams NYSE:SHW NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.44 0.13% 347.33 348.3739 344.63 347.00 995,098 00:00:00

Sherwin-Williams Lifts Outlook, Helped by DIY Painters

29/09/2020 9:51pm

Dow Jones News


Sherwin Williams (NYSE:SHW)
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By Micah Maidenberg

 

Sherwin-Williams Co. said it believes sales growth in the third quarter and profit for the year will be stronger than it previously had forecast, helped along by consumers touching up their properties amid the Covid-19 pandemic.

The paint maker behind Valspar, HGTV Home, Dutch Boy and other brands on Tuesday said it now sees a 3% to 5% gain in third-quarter sales over the same period last year, up from prior guidance that saw year-over-year sales up by a low-single-digit percentage.

For the full year, sales will be up slightly, better than its earlier expectation that sales would be flat.

The company believes it will earn $20.96 to $21.46 a share, up from $19.21 to $20.71 a share.

Sherwin-Williams said it has been helped along by do-it-yourself, or DIY, painters.

"Demand for architectural coatings has been stronger than expected in the third quarter, led by our DIY, residential repaint and new residential segments. Demand on the industrial side of our business has also improved," Chief Executive John Morikis said.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

September 29, 2020 16:36 ET (20:36 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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