Sherwin-Williams reports 15 percent
raise in first quarter sales

In the first quarter Sherwin-Williams’ net sales increased $280.8 million, or 15.1 percent, to $2.14 billion in the due primarily to higher paint sales volume and selling price increases. Net sales in the Paint Stores Group increased 20. 9 percent to $1.12 billion in the quarter. Paint Stores Group segment profit increased $43.9 million to $112.7 million in the quarter from $68.9 million last year. Net sales of the Consumer Group increased 8.6 percent to $320.4 million and segment profit increased to $55.3 million in the quarter from $41.1 million last year. The Global Finishes Group’s net sales stated in U.S. dollars increased 11 percent to $483.1 million. Segment profit increased in the quarter to $28.6 million from $19.4 million last year. The Latin America Coatings Group’s net sales increased 7.1 percent to $208.6 million while segment profit increased to $19.9 million in the quarter from $17.4 million last year.

“We are pleased to report record sales
and earnings per share in the first quarter
on strong sales and operating results of
our Paint Stores Group and operating
profit increases across the remaining oper-
ating segments,” said Sherwin’s chairman
and chief executive, Christopher Connor.
“All our operating segments grew sales
volume and operating profit as a percent
to sales in the quarter. The Paint Stores
Group volume growth was strong across
all end market segments. Our Consumer
Group improved their operating results
through disciplined cost control and sell-
ing price increases. Our Global Finishes
and Latin America Coatings Groups in-
creased paint sales volume and continued
improving operating profit as a percent to
sales. We continued to invest in our busi-
ness by opening five net new locations
in the Paint Stores Group. For the year,
we expect our Paint Stores Group to
open 60 to 65 new stores.”
In the second quarter of 2012, Sher-
win-Williams anticipates its consolidated
net sales will increase ten to fifteen per-
cent compared to the second quarter of
2011 said Connar. For the full year
2012, it expects consolidated net sales to
increase above 2011 levels by a high sin-
gle digit-to-low-teens percentage.

Carboline to open facility in
Nev. for industrial coatings
Carboline Company has acquired an ex-
isting 184,500-square-foot building in
Dayton, Nev., for manufacturing and
distributing high performance industrial
coatings. The facility could create up to
60 new jobs over the next several years,
once it reaches full production. Carbo-
line expects to invest several million dol-
lars in modifications to the building to
accommodate manufacturing and com-
ply with all regulatory codes. The facil-
ity is slated for production by September
of 2012. CW

Index to Companies

This index gives the starting page for a department or feature with a signifi-
cant reference to a manufacturer of paint, coatings, adhesives and sealants.
Subsidiaries are indexed under their own names.