Sherwin-Williams Q2 profit dips 1%

Cleveland -- Sherwin Williams Co. reported Thursday that profit for the second quarter fell 1% to $179.1 million, compared with $181.7 million in the year-ago period. The paint company cited higher raw material costs and increased expenses for the performance slip. Revenue rose 10% to $2.35 billion from $2.14 billion, missing Wall Street expectations of $2.41 billion. Same-store sales increased 4%.