The Sherwin Williams company (Sherwin Williams) yesterday announced in line with market expectations of financial report, at the same time, also announced that the expected profit for the fiscal year, to prepare for the acquisition of paint manufacturers counterparts the Valspar Corporation (Valspar).
American paint giant Xuan Wei company (Sherwin Williams) July 20, released in 2016 second quarter results showed that company 2016 second quarter sales of $3.22 billion, an increase of 2.8%, gross $15.84 billion, down 1.15%, net profit of $3.78 billion, an increase of 8%; of the first half of the year the total sales reached 5.79 billion, an increase of 3.8%, gross $28.96 billion, down 0.82%, net profit of $5.43 billion, an increase of 12.8%.
Sales of major growth momentum from its paint store business unit sales volume of a comprehensive upgrade. Adverse currency exchange rate has a negative impact on the first half of the sales performance, respectively, the two quarter and the first half of the quarter sales growth of 1.5% and 2%.
The report shows that the 2016 the first half of the year, the company paint shop business unit sales of $372 million, an increase of 8%, architectural coatings product sales growth in all end use applications, pre tax profit of $7.62 billion, an increase of 25%.
Report shows that the consumer business unit in 2016 first half sales of $856 million, an increase of 1.65%, the main benefit to the company HGTVHome & reg; brand products in the Lowe's store chain group of shelves, pre tax profit of $1.72 billion, an increase of 1.54%.
In addition, global business unit coating in 2016 first half sales of $953 million, fell 2.3 percent, pre tax profit of $1.14 billion, an increase of 18.4%; Latin American coatings business unit sales of $259 million, up 18.3 percent decline, pre tax profit and loss $10.57 million and annual profit over the same period $135.3 million. Adverse currency exchange rates have a greater impact on the performance of the above two operations.
"We continue to invest in our business, in the first half of the new 31 locations in the paint shop group. In the quarter, our dividend yield increased to $84 from $67 last year. Our balance sheets remain flexible, for 2016 annual performance, the company announced the latest forecast for earnings per share 11.65 ~ $11.85, and earlier in April the company forecast earnings per share 12.50 to $12.70. Xuan Wei said that the new is expected to reflect the acquisition of Valspar's preparations, and for future acquisitions and other investments in our business." Xuan Wei group president and chief executive officer JohnG.Morikis said.