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Why Sherwin-Williams Shares Are Down Today

TheMotleyFool

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Why Sherwin-Williams Shares Are Down TodayPhoto, wide shot, wide-angle lens, Restaurant, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/57273392-070f-46de-9297-125616327242.png

Slowing household and international demand for paint took a bite out of Sherwin-Williams' (NYSE: SHW) earnings in the second quarter. Investors weren't pleased, sending Sherwin-Williams shares down more than 10% in Wednesday morning trading.

The macro environment got the best of Sherwin-Williams in the second quarter. The paint and coatings company earned $2.41 per share in the quarter on revenue of $5.87 billion, falling short of analyst expectations for $2.78 per share in earnings on sales of $6.03 billion.

CEO John G. Morikis in a statement said that performance coatings and professional construction demand held up strong, but international sales and sales to do-it-yourselfers took a hit.

Source Fool.com

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