Sherwin-Williams 1Q Profit Rises, Beats Views

By Adriano Marchese

Sherwin-Williams Co. said Wednesday that first-quarter profit rose by 31%, and that it anticipates a challenging second quarter as the uncertainties of the pandemic continue to be felt across the business.

The Cleveland-based paints and coatings company said it earned a quarterly profit of $321.7 million, or $3.46 a share, compared with $245.2 million, or $2.62 a share, for the same period last year.

Excluding items, Sherwin-Williams reported an adjusted profit of $4.08 a share for the quarter, compared with $3.60 a share last year and analysts forecasts of $3.92 a share, taken from FactSet.

Sales in the period rose to $4.15 billion from $4.04 billion.

The company noted that, given the trends and indicators, it anticipates second-quarter consolidated net sales will decrease by a low-to-mid-teens percentage versus the second quarter of 2019.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 29, 2020 07:33 ET (11:33 GMT)

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