— Sales in The Americas Group grew by 9% driven by higher paint sales across all end markets in North American stores and selling price increases.
— Sales of the Consumer Brands Group fell by 12% due to comparisons to load-in sales for a new customer program in 2018, the divestiture of the Guardsman furniture protection business in Q3 of 2018, and softer sales outside of North America in some end markets.
— The Performance Coatings Group’s sales declined by 0.3% due to softer sales outside of North America in some end markets and unfavorable currency translation rate changes.
— Looking ahead into the fourth quarter, the company expects net sales to increase by a low single-digit percentage compared to last year. The street analysts expect sales growth of 4.50% for the quarter.
— For the full year 2019, net sales are expected to increase by a low single-digit percentage versus 2.80% expected.
— The earnings are now predicted to be $17.07 to $17.47 per share and adjusted earnings are anticipated to $20.90 to $21.30 per share for the full year. The market analysts expect EPS of $21.10.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.