Sherwin-Williams reports on 2013

10 March 2014

Consolidated net sales for the year increased 6.8% to a record US$10.19bn. Full year diluted net income/common share increased 20.6% to a record US$7.26/share, including a charge of US$.21/share related to Brazil tax assessments and a US$.13/share EPS loss from Comex.

Earnings before interest, taxes, depreciation and amortisation increased US$207.2M in the year to a record US$1.34bn. Net operating cash increased US$195.8M to a record US$1.08bn. The company anticipates diluted earnings/share for 2014 in the range of US$8.12 to US$8.32/share, including a Comex EPS loss of US$.45 to US$.55/ share.

Commenting on the financial results, Christopher M Connor, Chairman and CEO, said: "We are pleased to report another year of record highs for multiple financial measures in 2013, including sales, earnings/share, net operating cash and earnings before interest, taxes, depreciation and amortisation. Net operating cash surpassed US$1.0bn for the first time in the company’s history.”

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