- Q1 net sales $3.93B (+7%), organic sales +1% from higher selling prices; adjusted EPS $1.83 (+6%) and reported EPS $1.70.
- Share repurchases about $100M; cash and short-term investments $1.6B; net debt $5.5B (up $150M); cash from operations $33M; repaid $700M of maturing debt.
- Segment margin 16% and segment EBITDA margin 19%; Global Architectural Coatings delivered low-single-digit organic growth and a 230‑bp EBITDA margin improvement led by Latin America.
- Outlook: Q2 organic sales and adjusted EPS expected flat to low-single-digit growth; full-year EPS guidance maintained at $7.70–$8.10; company announced global price increases to offset rising raw material, energy and logistics costs.
Quarterly results
Net sales $3.93B (+7% y/y), organic sales +1% driven by higher selling prices; net income $382M (+2%), adjusted net income $411M (+4%); reported EPS $1.70, adjusted EPS $1.83 (+6%).
Segment performance
Segment margin 16% and segment EBITDA margin 19%; Global Architectural Coatings delivered low-single-digit organic growth and a 230‑bp EBITDA margin improvement led by Latin America; Performance Coatings grew low-single-digits with strength in aerospace and protective/marine; Industrial Coatings posted share gains in automotive OEM and packaging coatings, while China automotive production weakness weighed on margins.
Cash, capital and costs
Share repurchases ~ $100M; cash and short-term investments $1.6B; net debt $5.5B (up $150M); cash from operations $33M (~$50M higher y/y); repaid $700M of maturing debt; corporate expenses $83M; net interest expense $24M; effective tax rate ~25.5% (≈100 bps higher y/y).
Pricing, inflation and outlook
Company announced global price adjustments to address rising raw material, energy, logistics and packaging costs and expects improved ability to offset inflation via pricing and sourcing; Q2 organic sales and adjusted EPS are expected flat to low-single-digit growth, and full-year adjusted EPS guidance is maintained at $7.70–$8.10.
