Sherwin-Williams cuts FY08 and Q2 EPS below consensus

Briefing.com

Posted: 2008-06-03 09:22:00

Co cuts FY08 EPS guidance to $3.60-$4.10 vs. consensus of $4.71 and vs. prior guidance of $4.70-$4.85. Co also cuts Q2 EPS guidance to $1.40-$1.50 vs. consensus of $1.53 and vs. prior guidance of $1.45-$1.65. The significantly lower expectation of diluted net income per common share for the full year 2008 relates primarily to the expected continuation of the unprecedented downturn in the U.S. housing market and rapidly rising raw material cost increases. The lower anticipation in Q2 earnings per share is due primarily to worsening domestic net sales and the continuing rapidly increasing raw material and other input costs.