Sherwin-Williams Co. cut its outlook for the second time in three weeks after the paint maker said the impact of Hurricane Ida on the already-stretched supply chain was worse than originally expected.
Adjusted earnings will be $8.35 to $8.55 a share this year, down from a prior forecast of as much as $9.45, the company said Tuesday in a statement. Analysts had been expecting $9.26 a share on average. Revenue could fall in the third quarter, leading to full-year consolidated sales up high-single digits, compared with a prior expectation of high-single to low-double digits.
