The Sherwin-Williams Company (NYSE:SHW) Q1 2015 Earnings Conference Call - Final Transcript

Apr 16, 2015 • 11:00 am ET

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The Sherwin-Williams Company (NYSE:SHW) Q1 2015 Earnings Conference Call - Final Transcript

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Q & A
Executive
Bob Wells

be some catch up required that would require us to go above the normalized rate at the peak of the recovery. So, we can be three to five years from the peak.

Analyst
Rosemarie Morbelli

And if may ask for one last question for Sean, as you fix a lot of your short-term debt, you are obviously going to do it at a higher rate. Could we look at next year having interest expense increase by about 3%, is that more or less what we should be looking at?

Executive
Sean Hennessy

4.5% when you think about next year. And I would say that 4%-4.5% between 2016 and 2014, depending on the timing we felt we saved 4 million the first quarter. If we do a deal this quarter, you're not going to see that same savings. If it goes to the third quarter, you will see two quarters of it. So, that's why I think probably compared to 2014 is the right one way to look at for year.

Analyst
Rosemarie Morbelli

And when you say -- so what you are saying so I'm making sure I understand is that the rate will be about 4% to 4.5% above whatever you had in 2014, or is it that your interest expense will go up by that amount?

Executive
Sean Hennessy

The interest expense.

Operator
operator

Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I would like to turn the floor back to Mr. Wells for any final remarks.

Executive
Bob Wells

Thank you again, Melissa. As a reminder, our Financial Community Presentation is scheduled for Thursday, May 28 at The Langham Hotel in Boston. The program will consist of our customary morning presentation with a question-and-answer session, followed by a reception and lunch with the company management. If you have not yet signed up and would like to attend, registration is still open. Send me an email at rjwells@sherwin.com and I will reply with a link to our registration site.

As always, I will be available over the next few days to handle any follow-up questions that arise as you digest this morning's call. I would like to thank you again for joining us today and thanks for your continued interest in Sherwin-Williams.