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Sherwin-Williams Q1 profit climbs 26.1% YOY

The Sherwin-Williams Company said its normalized net income for the first quarter came to $2.06 per share, compared with the S&P Capital IQ consensus estimate of $2.07 per share.

EPS climbed 25.5% year over year from $1.64.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $194.6 million, an increase of 26.1% from $154.4 million in the year-earlier period.

The normalized profit margin rose to 7.0% from 6.0% in the year-earlier period.

Total revenue climbed 7.3% on an annual basis to $2.76 billion from $2.57 billion, and total operating expenses climbed 5.6% from the prior-year period to $2.43 billion from $2.30 billion.

Reported net income rose 45.2% year over year to $239.2 million, or $2.53 per share, from $164.7 million, or $1.75 per share.