San Francisco, CA, Apr. 7--Sherwin-Williams expects first quarter sales to be slightly below year earlier levels as a result of harsh weather in February and early March, but indicated its outlook for the full year remained unchanged.
Last month, the company estimated its first quarter sales would be the same as or slightly higher than last year's first quarter. Sherwin-Williams now also expects first quarter net income will be in the low part of its previously provided range of $0.20 to $0.23 per share.
The paint maker expects its full year 2003 sales to be up 3% to 5% over last year and full year diluted net income is anticipated to be within a range of $2.17 per share to $2.29 per share.
Consensus estimates for first quarter earnings are $0.22 a share and $2.22 a share for the year.
