Sherwin-Williams earnings take a hit as do-it-yourself business returns to normal.

Sherwin-Williams Co.
SHW,
-0.17%
stock slipped 0.3% in Tuesday premarket trading after the paint company reported second-quarter earnings and sales that missed the Street. Net income totaled $648.6 million, or $2.42 per share, up from $595.5 million, or $2.16 per share, last year. Adjusted EPS of $2.65 missed the FactSet consensus of $2.67. Sales of $5.380 billion were up from $4.604 billion and also missed the FactSet consensus for $5.388 billion. Architectural paint demand in the Americas and industrial end markets offset the return-to-normal do-it-yourself market, according to a statement from Chief Executive John Morikis. The company implemented price hikes due to raw material inflation and supply chain constraints impacted parts of the business. For the third quarter, Sherwin-Williams expects net sales up in the mid-to-high single-digit percentage. The FactSet consensus is for sales of $5.476 billion,…

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