Cleveland, OH, October 26, 2005--Sherwin-Williams posted a third-quarter profit of $151.6 million, or $1.07 a share, up from $132.9 million, or $0.92 a share in the same period a year ago.
Sales rose to $1.98 billion from last year's $1.68 billion.
Analysts expected earnings of $1.10 a share with sales of $1.96 billion.
Net sales in the Paint Stores Segment increased 22.2% to $1.4 billion in the quarter and 23.9% to $3.7 billion in nine months due primarily to strong domestic architectural paint sales to contractor customers, increased sales to do-it-yourself (DIY) customers and improved industrial maintenance and product finishes sales.
Sames store sales increased 14.0% in the quarter and 13.2% in nine months over last year.
Looking ahead, Sherwin-Williams said it expects fourth-quarter earnings to decline to $0.41 $0.49 a share from $0.57 last year, missing analyst projections of $0.04 a share.
