Sherwin-Williams Co. SHW, -0.17% stock slipped 0.3% in Tuesday premarket trading after the paint company reported second-quarter earnings and sales that missed the Street. Net income totaled $648.6 million, or $2.42 per share, up from $595.5 million, or $2.16 per share, last year. Adjusted EPS of $2.65 missed the FactSet consensus of $2.67. Sales of $5.380 billion were up from $4.604 billion and also missed the FactSet consensus for $5.388 billion. Architectural paint demand in the Americas and industrial end markets offset the return-to-normal do-it-yourself market, according to a statement from Chief Executive John Morikis. The company implemented price hikes due to raw material inflation and supply chain constraints impacted parts of the business. For the third quarter, Sherwin-Williams expects net sales up in the mid-to-high single-digit percentage. The FactSet consensus is for sales of $5.476 billion, suggesting a 6.9% increase. For the full year, Sherwin-Williams is guiding for a net sales up in the high-single to low-double digit percent range, EPS of $8.01 to $8.31 and adjusted EPS of $9.15 to $9.45. The FactSet consensus is for sales of $20.282 billion, implying a 10.5% rise, and EPS of $9.50. Sherwin-Williams shares have run up 16.5% for the year to date while the S&P 500 index SPX, +0.24% is up 17.7% for the period.
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