Housing

Sherwin-Williams, Too Poor to Paint (SHW)

Sherwin-Williams Co. (NYSE: SHW)  is under trading pressure this morning based on an earnings warning the company issued in pre-market hours.  The paint and coatings company cited lower sales, housing woes, and of course the lovely higher cost of raw materials.  It had already lowered numbers earlier.

For its second quarter, it sees $1.40 to $1.50 EPS, down from its prior guidance of $1.45 to $1.60 and under the $1.53 estimate from First Call.  But the full-year forecast is far worse.  It now sees $3.60 to $4.10 EPS for the year, down from its prior guidance of $4.70 to $4.85 EPS and well under First Call’s estimate of $4.71 EPS.

Shares are down over 6% right after the open at $52.35.  Its 52-week trading range is $49.99 to $73.96.

There is obviously a severe issue on new homes and relatively new homes, but the good news is ultimately people have to pain their existing homes whether they want to or not.  When funds are tight, maybe it’s easier to just let the paint peel.   

Jon C. Ogg
June 3, 2008

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.