CLEVELAND — Sherwin-Williams Co. today reported first-quarter net income of $409.6 million.
The company said it had net income of $1.51 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $2.06 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The paint and coatings maker posted revenue of $4.66 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $4.54 billion.
Sherwin-Williams expects full-year earnings in the range of $8.80 to $9.07 per share.
Sherwin-Williams shares have climbed 10% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has climbed 60% in the past 12 months.