CLEVELAND (AP) _ Sherwin-Williams Co. (SHW) on Wednesday reported first-quarter net income of $321.7 million.
The Cleveland-based company said it had profit of $3.46 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $4.08 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.01 per share.
The paint and coatings maker posted revenue of $4.15 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $4.09 billion.
Sherwin-Williams expects full-year earnings in the range of $19 to $21 per share.
Sherwin-Williams shares have declined 13% since the beginning of the year, while the Standard & Poor's 500 index has dropped 11%. The stock has increased 12% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHW at https://www.zacks.com/ap/SHW
Automated Insights, source Associated Press News