By Will Feuer


Sherwin-Williams Co.'s sales rose in the fourth quarter as higher prices boosted results and helped offset lower volume in some parts of the company.

The maker of paint and coatings posted a profit of $386.3 million, or $1.48 a share, compared with $304 million, or $1.15 a share, in the same period a year earlier.

Stripping out one-time items, adjusted earnings came to $1.89 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.86 a share.

Sales rose almost 10% from a year ago to $5.23 billion after the company raised prices. Analysts surveyed by FactSet were expecting $5.27 billion.

Chief Executive John Morikis said various macroeconomic factors, including limited availability of raw materials and "relentless cost inflation," weighed on operations. He said the consumer brands group unit faced difficult conditions in Europe and Asia.

Sales in the consumer brands group unit fell 2.4% from a year earlier.

The company's 2023 guidance came in softer than expected by Wall Street. Shares fell more than 8% to $226.57 in the premarket session.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

01-26-23 0745ET