America is in the midst of a renovation boom thanks in part to low inventories of homes for sale. And with renos come paint… and a lot of it. Benjamin Moore, a unit of Berkshire Hathaway, is one of the nation’s leading paint manufacturers.
CEO Michael Searles says stronger existing home sales have boosted business thanks to rising disposable income levels, higher savings and reduced consumer debt levels.
“We ended last year with record earnings and the first quarter of this year was double digit income, so we’re feeling good about the housing market and about our business,” he says.
Fortune’s Susie Gharib met up with Searles at Berkshire’s annual shareholder’s meeting in Omaha.