07:33 AM EDT, 04/23/2024 (MT Newswires) -- Sherwin-Williams ( SHW ) reported Q1 adjusted net income Tuesday of $2.17 per diluted share, up from $2.04 a year earlier.

Analysts polled by Capital IQ expected $2.22.

Net sales for the quarter ended March 31 were $5.37 billion, compared with $5.44 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.50 billion.

For Q2, Sherwin-Williams ( SHW ) said it expects a flat to low-single-digit percentage increase in net sales.

The paint and coatings company said it continues to expect fiscal 2024 adjusted net income to range between $10.85 to $11.35 per diluted share and a low to mid-single-digit percentage gain in net sales. Analysts polled by Capital IQ expect adjusted net income of $11.45 per share.

Sherwin-Williams ( SHW ) stock was 4.6% lower in recent Tuesday premarket activity.