X
<

Chemicals as of September 29: Your Weekly Wrap-Up

PART:
1 2 3 4 5
Part 3
Chemicals as of September 29: Your Weekly Wrap-Up PART 3 OF 5

Sherwin-Williams Hints at What to Expect in 3Q17

Sherwin-Williams updates on 3Q17

Sherwin-Williams (SHW) on September 28, 2017, provided an update on the impact of the hurricanes on the US Gulf Coast and the earthquakes in Mexico. Hurricanes Harvey and Irma, which impacted Texas, Florida, the Caribbean, and the other areas, affected 706 SHW stores, while the earthquakes in Mexico impacted 145 company-operated stores and 387 dealers.

Sherwin-Williams Hints at What to Expect in 3Q17

Interested in AXTA? Don't miss the next report.

Receive e-mail alerts for new research on AXTA

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

The preliminary analysis suggests that SHW’s Americas group sales could be hit in the range of $50 million–$70 million in 3Q17. However, SHW now expects that its overall sales will grow by only a low single-digit percentage over the previous year. SHW expects the diluted net income per share to be in the range of $3.40–$3.70, compared with its earlier guidance of $3.70–$4.10. In 3Q16, SHW reported diluted net income per share of $4.08.

John G. Morikis Chairman, President and CEO (chief executive officer) of SHW stated: “While we are still assessing the longer term impact…particularly in our company-operated stores in the unaffected regions of the US and Canada…[We expect to] recover some of the third quarter earnings shortfall over the balance of the year. We will provide a [fiscal] 2017 outlook when we report 3Q17 earnings on October 24.”

SHW’s stock performance

Sherwin-Williams gained 2.4% and closed at $358.04 in the week ended September 29, 2017. The stock was trading 4.0% above its 100-day moving average price of $344.43, indicating an upward trend.

SHW managed to outperform PPG Industries (PPG), RPM International (RPM), and Axalta (AXTA), which returned -0.1%, 0.70%, and -0.40%, respectively, during the same period. SHW also outperformed the Vanguard Materials ETF (VAW), which returned 0.6%.

Notably, VAW had 3.4% of its total portfolio invested in Sherwin-Williams as of September 29.

X

Please select a profession that best describes you: