Sherwin-Williams Co (NYSE:SHW) shares are trading higher Tuesday after the company reported better-than-expected financial results.
Sherwin-Williams said first-quarter revenue increased 7.4% year-over-year to $5 billion, which beat the $4.91 billion estimate. The company reported quarterly earnings of $1.61 per share, which beat the estimate of $1.55 per share.
"Our team delivered results in line with our expectations in an environment characterized by strong demand, ongoing cost inflation, and choppy raw material availability that improved meaningfully in the final weeks of the quarter," said John Morikis, chairman and CEO of Sherwin-Williams.
Sherwin-Williams reaffirmed full-year 2022 earnings guidance of $9.25 to $9.65 per share versus the estimate of $9.31 per share.
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SHW 52-Week Range: $233.32 - $354.15
According to data from Benzinga Pro, the stock was up 6.04% at $263.01 at press time.
Photo: bidvine from Pixabay.
