We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|
0.41 | 0.13% | 320.86 | 322.275 | 319.715 | 321.31 | 1,075,750 | 01:00:00 |
By Adriano Marchese
Sherwin-Williams Co. said Wednesday that it anticipates consolidated net sales to fall in 2020 if the economic conditions don't improve until early 2021, and revised its full-year guidance.
In its first-quarter report, the Cleveland-based paints company said it expects full-year net sales to fall by a mid- to high single-digit percentage.
This compares with its previous full-year sales guidance of a rise of 2% to 4%, it said.
The company also lowered its forecast for diluted net income per share in 2020 to a range of $16.46 to $18.46 from its previous guidance of $19.91 to $20.71. It earned $16.49 a share in 2019.
However, should economic conditions begin to return to normal in the third quarter of 2020, with continued improvement in the fourth, Sherwin-Williams estimates full-year consolidated net sales will be somewhere between flat and a low single-digit percentage fall.
In the shorter term, the company expects to feel the weight of a weaker U.S. economy as it sees no immediate and meaningful improvement in most end-markets it serves.
"We anticipate that the rapid deterioration of the U.S. and global economies experienced late in the first quarter due to the Covid-19 pandemic will most likely continue through the second quarter," Chairman and Chief Executive Officer John G. Morikis said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2020 07:57 ET (11:57 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
1 Year Sherwin Williams Chart |
1 Month Sherwin Williams Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions