Why Sherwin-Williams Shares Are Down Today
Slowing household and international demand for paint took a bite out of Sherwin-Williams' (NYSE: SHW) earnings in the second quarter. Investors weren't pleased, sending Sherwin-Williams shares down more than 10% in Wednesday morning trading.
The macro environment got the best of Sherwin-Williams in the second quarter. The paint and coatings company earned $2.41 per share in the quarter on revenue of $5.87 billion, falling short of analyst expectations for $2.78 per share in earnings on sales of $6.03 billion.
CEO John G. Morikis in a statement said that performance coatings and professional construction demand held up strong, but international sales and sales to do-it-yourselfers took a hit.
Source Fool.com
