Sherwin-Williams Company (NYSE:SHW) shares fell Tuesday after the company reported first-quarter results that topped Wall Street expectations but issued a cautious outlook for the year.

Sherwin-Williams Quarterly Report

The paint and coatings maker reported adjusted earnings of $2.35 per share, exceeding the analyst consensus estimate of $2.26. Quarterly sales rose to $5.67 billion, ahead of the Street view of $5.56 billion.

Segment Performance Shows Broad Growth

Net sales in the Paint Stores Group increased 3.7% year over year to $3.05 billion. Consumer Brands Group sales jumped 19.2% to $908.3 million, while Performance Coatings Group sales climbed 6.5% to $1.706 billion.

Gross profit rose to $2.78 billion from $2.56 billion a year earlier, and gross margin expanded to 49.1% from 48.2%. The company ...