* 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)