Sherwin-Williams (NYSE: SHW) reported Q1 EPS of $1.81, $0.20 better than the analyst estimate of $1.61. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.48 billion.

GUIDANCE:

Sherwin-Williams sees Q2 2016 EPS of $3.95-$4.15, versus the consensus of $4.10.

Sherwin-Williams sees FY2016 EPS of $12.50-$12.70, versus the consensus of $11.42.

Commenting on the financial results, John G. Morikis, President and Chief Executive Officer, said, "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 improvements in our Consumer and Global Finishes Groups. Our Paint Stores Group posted another quarter of positive operating results and architectural volume growth. Consumer Group improved its operating results through improved operating efficiencies. The HGTV HOME® by Sherwin-Williams paint program continues to drive sales improvements in Consumer Group. Our Global Finishes Group improved its operating results through improved operating efficiencies and good cost control. The Latin America Coatings Group continues to manage through the negative effects of currency devaluation and weak end market demand in some geographies.

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