U.S. Markets closed

Sherwin-Williams: 1Q Earnings Snapshot

CLEVELAND (AP) _ Sherwin-Williams Co. (SHW) on Tuesday reported first-quarter net income of $245.2 million.

The Cleveland-based company said it had profit of $2.62 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $3.60 per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.63 per share.

The paint and coatings maker posted revenue of $4.04 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $4.08 billion.

Sherwin-Williams expects full-year earnings in the range of $20.40 to $21.40 per share.

Sherwin-Williams shares have risen 15 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. The stock has climbed 14 percent 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