Sherwin-Williams misses outlook

CLEVELAND — The Sherwin-Williams Co. again trimmed its earnings guidance as it posted Q3 earnings well under estimates. The paint manufacturer, which recently acquired rival Valspar, now expects yearly earnings in the range of $11.30 to $11.40 per share. It had already lowered the estimate to between $11.65 and $11.85 per share. For the third quarter, EPS were just $4.08, while the company had expected $4.10 to $4.30. A 4% revenue increase to $3.28 billion, was in line with Thomson Reuters estimates. Valspar agreed in June to its acquisition by Sherwin-Williams, the latter’s largest ever at a cost of $9 billion.