CLEVELAND – The Sherwin-Williams Co. is updating its sales and earnings expectations for the first quarter ended March 31, 2012, previously given on January 26, 2012. Based on stronger-than-anticipated preliminary sales and earnings results, diluted net income per common share for the first quarter is expected to be in the range of $.92 to $.95 per share compared to the January guidance of $.56 to $.74 per share. The company reported diluted net income per common share of $.63 per share in the first quarter of 2011.
The expected increase was due primarily to strong sales and operating results of the Paint Stores Group. Net sales in the Paint Stores Group increased approximately 20 percent in the quarter due primarily to improving domestic architectural paint sales volume across all end-market segments and price increases.