Investing.com -- Sherwin-Williams (NYSE:SHW) shares dropped 2% in premarket trading Thursday after the company's full-year profit guidance missed market expectations.
For the fourth quarter of fiscal 2024, the paints and coatings company posted earnings per share (EPS) of $2.09, slightly ahead of analyst expectations of $2.07. However, revenue for the period stood at $5.3 billion, just below the consensus estimate of $5.33 billion.
"Sherwin-Williams delivered strong fourth quarter results despite continued demand choppiness in the majority of our end markets," said Sherwin-Williams Chair, President and CEO Heidi G. Petz. "
"Consolidated net sales grew by a low-single digit percentage, and gross margin improved slightly year-over-year. We expanded adjusted segment margin in all three segments, and adjusted diluted earnings per share and EBITDA grew by double-digit percentages."
For the full fiscal 2025, the company expects EPS to range between $11.65 and $12.05, falling short of the consensus estimate of $12.57.
Diluted net income per share is projected between $10.70 and $11.10, including $0.80 per share in acquisition-related amortization expenses and $0.15 per share in restructuring costs.
Sherwin-Williams said it expects net sales to increase by a low-single-digit percentage for the year.
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