The Sherwin-Williams Company Recommends Annual Dividend
Jan 29 15
The Sherwin-Williams Company announced that at February board meeting, the company will recommend approval of an annual dividend of $2.68 per share, an increase of 22% over 2014.
The Sherwin-Williams Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Revises Earnings Guidance for the Year 2015; Provides Earnings Guidance for the First Quarter of 2015
Jan 29 15
The Sherwin-Williams Company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $2,569,412,000 compared with $2,457,058,000 for the same period a year ago. Income before income taxes was $188,871,000 compared with $149,228,000 for the same period a year ago. Net income was $132,743,000 or $1.37 per diluted share compared with $116,123,000 or $1.14 per diluted share for the same period a year ago. Consolidated sales in the fourth quarter increased 4.6%, primarily due to higher paint sales volume through its Paint Stores Group.
For the full year, the company reported net sales of $11,129,533,000 compared with $10,185,532,000 for the same period a year ago. Income before income taxes was $1,258,226,000 compared with $1,085,958,000 for the same period a year ago. Net income was $865,887,000 or $8.78 per diluted share compared with $752,561,000 or $7.26 per diluted share for the same period a year ago. Capital expenditures in 2014 totaled $207.9 million. In 2014, the company generated net operating cash flow of $1.08 billion.
For 2015, the company expects net sales increasing by a high single digit percentage from 2014, and it raised its expectation for diluted EPS to between $10.90 to $11.10 from the previous guidance range between $10.65 to $10.85. In 2015, the company anticipates capital expenditures of approximately $240 million, depreciation of $170 million to $175 million and amortization of about $30 million. The effective tax rate guidance expected to be in that low 30s.
In the first quarter of 2015, the company anticipates its consolidated net sales will increase in the mid-single-digits percentage range compared to the first quarter of 2014. At that anticipated sales level, the company estimates diluted net income per common share in the first quarter of 2015 will be in the range of $1.30 to $1.45 per share compared to $1.14 per share earned in the first quarter of 2014.
The Sherwin-Williams Company Introduces Tuff Surface Premium Texture Finish
Jan 26 15
The Sherwin-Williams Company, a manufacturer and distributor of paint solutions, has introduced Tuff Surface premium texture finish. Tuff Surface hides various imperfections and is an excellent option for application over uneven or damaged surfaces. It is more reliable and cost effective than traditional methods. Tuff Surface's premixed, 100% acrylic, non-aggregate formula can be applied to create a level 5 basecoat. It can be tinted to hundreds of custom colors, is available in flat or eg-shel finishes and has a Class A fire rating.
The Sherwin-Williams Company Introduces New Sketch Pad Dry Erase Clear Gloss Coating Kit
Jan 26 15
The Sherwin-Williams Company has introduced Sketch Pad dry erase clear gloss coating kit. Sherwin-Williams new Sketch Pad dry erase coating is the first-ever dry erase clear gloss coating that can be easily applied over any color, allowing the wall color to show through. Available in a pre-packaged kit, Sketch Pad coating is ideal for residential painting projects. Builders and designers can now offer their clients versatile, economical dry erase surfaces for a wide variety of applications. Sketch Pad coating is ideal for kitchen message boards, home offices and kids' bedrooms, as well as conference rooms, small businesses and classrooms. It is easily applied to virtually any interior wall surface and over any paint color, producing a durable, clear gloss finish that wipes clean and allows the wall color to show through.
The Sherwin-Williams Company Announces Availability of ProMar Ceiling Paint
Jan 26 15
The Sherwin-Williams Company, a manufacturer and distributor of paint solutions, has announced the availability of ProMar ceiling paint. ProMar Ceiling Paint's super-flat finish, good coverage and excellent adhesion help to minimize small surface imperfections for a beautiful final look in less time. With its ceiling-white color and good light reflectivity, ProMar Ceiling Paint enhances the fresh, airy feel of any room.