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Sherwin-Williams Q1 profit climbs 14.8% YOY

The Sherwin-Williams Company said its first-quarter normalized net income came to $1.26 per share, compared with the S&P Capital IQ consensus estimate of $1.44 per share.

EPS increased 22.2% year over year from $1.03.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $119.1 million, an increase of 14.8% from $103.7 million in the prior-year period.

The normalized profit margin rose to 4.9% from 4.4% in the year-earlier period.

Total revenue increased on an annual basis to $2.45 billion from $2.37 billion, and total operating expenses increased from the prior-year period to $2.25 billion from $2.18 billion.

Reported net income increased 13.9% from the prior-year period to $130.9 million, or $1.38 per share, from $114.9 million, or $1.14 per share.