Sherwin-Williams Beats Estimates and Forecasts Sales Growth
The company reported a first-quarter profit beat and expects mid-single-digit sales growth. Higher prices helped offset rising raw material and energy costs.
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SHERWIN-WILLIAMS CO/THE expects mid-single-digit sales growth for the second quarter after first-quarter revenue rose 7% to $5.66 billion. The United States-based paintmaker beat LSEG profit estimates of $2.26 per share, posting adjusted earnings of $2.35. Pricing power remains the primary defense against rising logistics and raw material costs linked to Middle East supply chain disruptions.
