20 de octubre de 2009 / 13:28 / hace 8 años

UPDATE 1-Sherwin Williams Q3 profit tops Street

2 MIN. DE LECTURA

* Q3 EPS $1.51 vs est $1.35

* Revenue down 12 pct to $2 bln

* Sees Q4 EPS $0.35-$0.55

* Sees sales falling in Q4

* Tightens FY09 EPS outlook

Oct 20 (Reuters) - Sherwin-Williams Co (SHW.N) posted a quarterly profit ahead of analysts' average estimate, helped by lower interest expense and cost savings, but forecast a drop in sales for the fourth quarter.

Sherwin Williams, the maker of Dutch Boy, Krylon and Duron paints, expects sales to fall 8 percent to 12 percent in the fourth quarter.

The Cleveland, Ohio-based paint maker, however, tightened its 2009 projected earnings to a range of $3.52 a share to $3.72 a share. It had previously forecast a range of $3.30 to $3.80 a share.

For the latest quarter ended Sept. 30, the company earned $175.2 million, or $1.51 a share, compared with $177.1 million, or $1.50 a share, a year ago.

Analysts were expecting the company to earn $1.35 a share, before items, on revenue of $2.01 billion, according to Thomson Reuters I/B/E/S.

Interest expense fell 44 percent to $8.4 million in the quarter.

Shares of the company closed at $63.07 Monday on the New York Stock Exchange. (Reporting by Renju Jose; Editing by Anil D'Silva)

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