Welcome Guest to Coatings World    Login || Register
Last Updated Friday, November 28 2014
Print

Sherwin-Williams 2Q net falls 1.4 percent



Published August 15, 2011
Sherwin-Williams’ second-quarter earnings fell 1.4 percent as price increases and sales growth couldn’t fully mitigate rising raw material costs. The company reported a profit of $179.1 million, down from $181.7 million, a year earlier. Sales increased 9.9 percent to $2.35 billion, while same-store sales rose four percent.

Sales in the paint stores group increased 4.3 percent to $1.30 billion in the quarter. Segment profit decreased to $206.6 million in the quarter from $212 million last year due primarily to continuing raw material cost increases only partially offset by selling price increases.

Sales in the consumer group decreased 8.4 percent to $375.6 million in the quarter. Segment profit decreased to $61.4 million in the quarter from $80.7 million last year.

The global finishes group’s sales increased 39.5 percent to $678.9 million in the quarter on the back of acquisitions while segment profit in the quarter increased to $46.1 million from $40.0 million.
“Earnings in the quarter were at the low end of our guidance range due to high raw material costs versus the timing of our price increases,” said Christopher Connor, chairman and CEO.


blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
Siltech Corporation
225 Wicksteed Avenue
Toronto, ON, M4H 1G5
Canada
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Follow Coatings World On