This week's Ticker takes a closer look at the strong performance of two of the America's best-known coatings during the first quarter of 2025, a period in which both companies faced significant sales declines.

Pennsylvannia-based Axalta Coating Systems is celebrating a record-breaking first quarter.

During the first three months of 2025, the company's earnings before interest, taxes, depreciation and amortization, a common measure of a company’s operating performance, rose four percent to US$270 million, the largest first-quarter gain seen in the its history. 

The achievement came in spite of Axalta facing setbacks during the quarter. It reported sales of $1.26 billion for the first quarter of 2025, down three percent from the same time last year. While the drop in sales was mainly due to changes in currency values the company saw sales dip in its performance coatings business.

Despite the smaller sales volume, the company’s profits jumped to US$99 million, a 154 percent increase over the same period in 2024. These gains stemmed from the fact that it did not have to pay the US$55 million in restructuring costs that affected last year’s results.

Ohio-based Sherwin-Williams also saw its earnings per share rise during the quarter despite facing setbacks.

The company reported a slight dip in sales which pushed its revenue down by 1.1 percent to US$5.31 billion. At the same time, it saw a modest increase in profit, with diluted earnings per share rising 1.5 percent to $2.00 and adjusted earnings per share climbing 3.7 percent to US$2.25. 

The growth was lead by its paint stores, which saw a 2.3 percent uptick in sales, to US$2.94 billion. The performance coatings group, which includes its automotive coatings segment, faced decreases, with sales falling 4.8 percent to $1.60 billion. 

The company also returned US$552 million to shareholders through dividends and share buybacks during the quarter.