=Sherwin-Williams (SHW) reported earnings on Tue 25 Oct 2016 (b/o)

Sherwin-Williams misses by $0.09, reports revs in-line; guides Q4 EPS below consensus; lowers FY16 EPS guidance; appoints Al Mistysyn CFO effective Jan 2017  :

• Reports Q3 (Sep) earnings of $4.23 per share, excluding non-recurring items, $0.09 worse than the Capital IQ Consensus of $4.32; revenues rose 4.0% year/year to $3.28 bln vs the $3.28 bln Capital IQ Consensus.
• Co issues downside guidance for Q4, sees EPS of $2.13-2.23, excluding costs related to the anticipated acquisition of Valspar totaling approximately $.71 per share and an increase in EPS of approximately $.03 per share related to the decrease in the income tax provision, vs. $2.43 Capital IQ Consensus Estimate. Core consolidated net sales expected to increase by a low single digit percentage compared to last year's fourth quarter.
• Co lowers EPS guidance for FY16, sees EPS of $12.25-12.35 (prior $12.50-12.70), excluding costs related to the anticipated acquisition of Valspar totaling approximately $1.35 per share and an increase in EPS of approximately $.40 per share related to the decrease in the income tax provision, vs. $12.63 Capital IQ Consensus Estimate.
• Mistysyn has served as Sherwin-Williams' Senior Vice President -- Corporate Controller since October 2014 and will assume the CFO duties currently held by Sean P. Hennessy. Mr. Hennessy will remain with the Company in the role of Senior Vice President -- Corporate Planning, Development and Administration where he will provide support for the Valspar acquisition integration planning process and assist Mr. Mistysyn with his new role to ensure a smooth transition of responsibilities.