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Sherwin-Williams sees sales, income spike

Cleveland – The Sherwin-Williams Company reported increases in net sales, diluted income per share and same-store sales during second quarter fiscal 2013. Consolidated net sales increased 5.5% to a record $2.71 billion in the quarter, up from roughly $2.6 billion the previous year. The company credited acquisitions, with some offsetting negative impact from unfavorable currency translation rates, for the net sales boost.

Meanwhile, diluted net income per common share in the quarter increased to $2.46 per share from $2.17 per share in 2012, due primarily to improved operating results of the paint stores and global finishes groups. Unfavorable currency translation rate changes decreased diluted net income per common share by $.02 per share in the quarter. Same-store sales increased 7%.

 

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