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Sherwin-Williams Q3 Earnings Rise 18%

Through the last nine months, Sherwin-Williams earned $477.4 million on $6 billion in sales, compared with $388.1 million on $5.5 billion in sales a year earlier.

Sales at paint stores during the quarter climbed 9.5 percent to $1.3 billion, and expanded 13 percent in the latest nine months to $3.7 billion. The sales growth was due to healthy domestic architectural paint sales to contractors in the first half of the year, as well as improved sales of industrial maintenance products, despite weakened do-it-yourself customer demand and a slowing new-home market.

"We are also pleased with the Paint Store Group's increased productivity that has helped increase profitability while absorbing costs associated with opening 69 net new stores during the first nine months of the year," said Chief Executive Christopher M. Connor.

Connor predicted sales growth of between five and seven percent in the fourth quarter, anticipating sales of between $1.80 billion and $1.83 billion. For the full year, sales are expected to rise eight percent to nine percent over 2005 sales of $7.19 billion.

Cleveland-based Sherwin-Williams has more than 3,000 company-operated Paint Stores in North America, and employees about 29,000 people in its various business segments.

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