Sherwin-Williams jumps after reporting strong Q3 results
25/10/2022 14:50
** Shares of commodity chemicals retailer Sherwin-Williams
Co SHW.N up 4.6% to $222.26 after reporting Q3 results
** Co reports adj. earnings of $2.83/shr beating estimates
of $2.56/shr - Refinitiv
** SHW credits co's results to higher prices while sales
volumes in architectural paint across same-stores in the
American region rose 20.7%
** Co reiterates FY22 EPS of $7.65 to $7.95 while analysts
expect $8.59/shr
** SHW says it will simplify its operating model and
portfolio of products in Q4; expects raw material costs to ease
towards end of year
** SHW reports sales in Q3 as $6.05 bln beating Street
estimates of $5.79 bln
** 14 of 31 brokerages rate the stock "buy" or higher, 15
"hold" and two "sell"; their median PT is $261
** Stock has fallen 36% YTD compared with a 20% decline in
the S&P 500 index .SPX
(Reporting by Johann M Cherian in Bengaluru)
((johann.mcherian@thomsonreuters.com;))