Cleveland, OH, January 20—-Paintmaker and retailer Sherwin-Williams Co. boosted its projected fourth-quarter earnings after sales came in better than planned during the period.
The company said quarterly sales grew 17 percent to $1.5 billion, topping previous expectations for low double-digit growth on improved domestic and overseas business, as well as last year's acquisitions.
Net sales for the year were 13 percent higher at $6.1 billion, Sherwin-Williams said.
Earnings are now expected to be 57 cents per share in the fourth quarter, and $2.72 per share for the year. That compares with prior views for quarterly income of 48 cents to 52 cents per share, and a full-year profit of $2.62 to $2.66 per share.
Analysts polled by Thomson First Call currently estimate quarterly income of 51 cents per share on sales of $1.44 billion, and 2004 earnings of $2.66 per share on $6.06 billion in sales.
The year before, Sherwin-Williams earned 48 cents per share and had sales of $1.28 billion in the fourth quarter, and reported a profit of $2.26 per share on revenue of $5.41 billion for the year.
