Sherwin-Williams has released its first-quarter financial results, showcasing a rise in profits while facing a marginal drop in sales. The diluted net income per share increased by 7.1%, reaching $1.97, and the adjusted diluted net income per share went up by 6.4% to $2.17. In contrast, consolidated net sales fell by 1.4% to $5.37 billion, trailing behind analysts' predictions of $5.505 billion, as reported by Gurufocus.

The company's segment performance presented a mixed outlook. The Paint Stores Group experienced a slight 0.5% increase in net sales to $2.873 billion, with same-store sales remaining nearly unchanged. However, the Consumer Brands Group saw a 7.1% decline in net sales, although its segment profit jumped by 63.5% to $153.4 million. Similarly, the Performance Coatings Group experienced a 1.6% drop in net sales but achieved an 8.6% rise in segment profit, according to Gurufocus.

Maintaining a steady course, Sherwin-Williams reaffirmed its full-year 2024 financial guidance, projecting adjusted diluted net income per share to range between $10.85 and $11.35. This commitment to its strategic outlook comes alongside the company's current stock price of $332.2 at last check, reflecting a slight uptick from the previous close.