Sherwin-Williams Boosts FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, paint and coating manufacturer Sherwin-Williams Co. (SHW) boosts earnings and sales growth guidance for the full-year 2020.

For fiscal 2020, the company now projects earnings in a range of $19.21 to $20.71 per share and adjusted earnings in a range of$21.75 to $23.25 per share, with consolidated net sales remaining approximately flat with last year.

Earlier, the company expected earnings in a range of $16.46 to $18.46 per share and adjusted earnings in a range of $19.0 to $21.0 per share on consolidated net sales between flat and down in low single digit percentage.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $20.52 per share on net sales decline of 2.2 percent to $17.5 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company anticipates consolidated net sales to be up or down in low single digit percentage from last year, while analysts are looking for a decline of 3.4 percent to $4.7 billion.

"We anticipate sequential improvement in demand for the third quarter compared to the second quarter with demand softness continuing in some end markets in the U.S. and global environments for the remainder of 2020," said John Morikis, Chairman and CEO.