Financial News

Sherwin-Williams 2Q profit rises

August 10, 2007

The Sherwin-Williams Company reported its financial results for the second quarter and first six months ended June 30, 2007. Compared to the same periods in 2006, consolidated net sales increased $68.3 million, or 3.2%, to $2.2 billion in the quarter and $55.9 million, or 1.4%, to $3.95 billion in the first six months.
Net sales in the Paint Stores Group increased $37.1 million, or 2.8%, to $1.37 billion in the quarter and $31.9 million, or 1.3%, to $2.42 billion for the first six months due primarily to the M. A. Bruder acquisition and increasing domestic architectural paint sales to DIY customers and commercial and residential repaint contractors and to improved industrial maintenance product sales.
Net sales of the Consumer Group declined $4.3 million, or 1.1%, to $396.6 million in the quarter and $33 million, or 4.5%, to $697.9 million in the first six months. The sales declines were due primarily to soft DIY demand at most of the group’s retail customers and, during the first quarter of 2007, the final period in the elimination of a portion of a paint program with a large retail customer.