By Allison Prang
Sherwin-Williams Co.'s earnings and net sales rose in the third quarter.
Net income climbed 22% to $705.8 million from $576.5 million a year earlier. The company said earnings were $7.66 a share, up from $6.16 a share.
Results for the comparable quarter a year earlier were hurt by a nearly $35 million California litigation expense.
Adjusted earnings were $8.29 a share. According to FactSet, analysts were expecting $7.79 a share.
Net sales were $5.12 billion, up more than 5% from $4.87 billion a year earlier. Analysts expected $5.07 billion. The company said the estimated impact from Covid-19 didn't materially impact third-quarter net sales but hurt net sales for the first nine months of the year by about 3%.
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(END) Dow Jones Newswires