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Sherwin-Williams: Q4 Earnings Snapshot

By The Associated Press

CLEVELAND (AP) — CLEVELAND (AP) — Sherwin-Williams Co. (SHW) on Thursday reported fourth-quarter profit of $476.8 million.

The Cleveland-based company said it had profit of $1.92 per share. Earnings, adjusted for costs related to mergers and acquisitions and severance costs, came to $2.23 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The paint and coatings maker posted revenue of $5.6 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $5.55 billion.

For the year, the company reported profit of $2.57 billion, or $10.26 per share. Revenue was reported as $23.57 billion.

Sherwin-Williams expects full-year earnings in the range of $11.50 to $11.90 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHW at https://www.zacks.com/ap/SHW

Woman, 5-month-old baby die after vessel overturns in New York Harbor

▶ Watch Video: 2 dead, 12 hurt after boat capsizes near Liberty Island A woman and a 5-month-old baby died after a vessel carrying 14 people overturned in New York Harbor on Saturday night, according to police. The boat's captain has been arrested for reckless endangerment, and authorities are investigating whether the vessel was operating illegally as a charter, the U.S. Coast Guard said on Sunday.The New York Police Department said it was called to an overturned vessel near Liberty Island, home to the Statue of Liberty, at 10:55 p.m. on Saturday. The authority deployed a harbor unit, as well as a scuba and an aviation team, to the scene where 12 people had already been rescued from the water.A 27-year-old woman and a 5-month-old baby girl were located and taken to NYU Langone Hospital, where they were declared deceased on arrival, according to authorities.Law enforcement sources identified to CBS News the 27-year-old woman as Sara Sanchez and the baby as Antonella Garcia.A Sea the City boat initially saw the capsized boat and people in the water and helped 11 people out of the water, according to the company's founder Adam Schwartz. The remaining survivors were taken to a local hospital and are reported to be in stable condition with minor injuries."We are deeply saddened by the tragic loss of life last night, and our thoughts are with the victims' family and loved ones during this incredibly difficult time," Captain Doreen McCarthy, the Coast Guard Sector New York commander, said in a statement. "We are extremely grateful for the heroic, swift actions of our partner agencies and Good Samaritan vessel who assisted in rescuing survivors from the water."Police said they are investigating the cause of the deadly incident.The NYPD's deputy commissioner of public information confirmed to CBS News that Manuel Hernandez, 46, of New York, was arrested Sunday on 13 counts of reckless endangerment.An illegal charter is any passenger-for-hire vessel operation that lacks Coast Guard credentials, safety equipment and inspection certificates, the Coast Guard said.
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