Sherwin-Williams Q3 Sales +5%
[Thursday, October 25, 2012] The Sherwin-Williams Company today announced its financial results for the third quarter and nine months ended September 30, 2012. Compared to the same periods in 2011, consolidated net sales increased $118.3 million, or 4.8%, to $2.60 billion in the quarter and increased $617.3 million, or 9.2%, to $7.31 billion in nine months due primarily to higher paint sales volume in the Paint Stores Group and selling price increases. Unfavorable currency translation rate changes decreased consolidated net sales approximately 2.2% in the quarter and nine months. Acquisitions increased consolidated net sales approximately 1.0% in the quarter and nine months.
Diluted net income per common share in the quarter increased to $2.24 per share from $1.71 per share in 2011 and increased in nine months to $5.37 per share from $3.98 per share last year.
Net sales in the Paint Stores Group increased 9.6% to $1.55 billion in the quarter and increased 14.2% to $4.16 billion in nine months due primarily to higher paint sales volume across all end market segments as well as higher year over year selling prices.
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