Sherwin-Williams Earnings Better Than Expected

Cleveland, OH, Oct. 17, 2008--Sherwin-Williams said third quarter net income was $177.1 million, or $1.50 a share, compared with $200.3 million, or $1.55 a share, for the same period a year ago.

Sales  were $2.27 billion vs. last year's $2.2 billion.
 
Analysts had expected the company to make $1.27 a share on sales of $2.27 billion.

Christopher Connor, the company's chairman and chief executive, said in a press release that Sherwin-Williams has been able to improve its cash position despite the global credit crunch.

The company experienced the most growth in its global business division, where sales jumped 12.5% during the quarter and 13.3% for the first nine months of the year.

Sherwin-Williams' consumer group and paint store group saw sales growth of 1.8% and 0.7%, respectively. Paint store sales were helped by acquisition and price increases, the company said.