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Investing.com -- Sherwin-Williams (NYSE:SHW) shares fell more than 3% in the Tuesday premarket trade after the paints and coatings company’s second-quarter earnings and full-year outlook missed analyst estimates.
The firm reported Q2 earnings per share (EPS) of $3.38, well short of the consensus estimate of $3.80.
Revenue for the three-month period increased 0.7% to $6.31 billion, in line with the $6.3 billion estimate.
"Sherwin-Williams continued to execute on our consistent and disciplined strategy in a demand environment that remained choppy as we anticipated," said Chair, President and CEO of Sherwin-Williams, Heidi G. Petz.
"Consolidated sales were within our guided range, and we delivered gross margin expansion for the 12th consecutive quarter. Given the demand softness in the quarter, which we expect will continue if not deteriorate in the second half of the year, we aggressively accelerated and increased our restructuring actions, resulting in pre-tax expenses of $59 million."
Petz said strong cash generation allowed the company to return $716 million to shareholders during the quarter through dividends and share repurchases.
Looking ahead, Sherwin-Williams expects full-year 2025 EPS in the range of $10.11 to $10.41, below the consensus estimate of $11.89.