Sherwin Williams Reports 45 Percent Profit Increase in Q1

Sherwin Williams Co. (Cleveland, Ohio), parent company to floor coatings companies DuraSeal and Minwax, among others, reported a first quarter 2017 profit of $239.15 million, a 45 percent increase compared with its first quarter 2016 profit of $164.88 million.

Net sales in the first quarter were $2.76 billion, a 7.3 percent increase compared with sales of $2.57 billion in the first quarter of 2016.

“We are pleased to report record sales and earnings per share from the continued positive sales volume and strong operating results of our Paint Stores Group and operating margin improvement in our Global Finishes Group,” said John Morikis, president and CEO, in a statement. “Our Paint Stores Group posted another quarter of improved operating results and architectural volume growth.”