— The Sherwin-Williams Company (NYSE: SHW) reported third-quarter 2019 adjusted earnings of $6.65 per share versus $6.48 per share expected.
— Net sales rose by 3% to $4.87 billion versus $4.83 billion expected. This was due primarily to higher paint sales volume in North American stores and selling price increases.
— 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.
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