Heading into this week's second-quarter earnings report, investors had a few worries about global paint titan Sherwin-Williams' (NYSE: SHW) operating trends. Sales have been spiking, mainly thanks to the company's recent merger with Valspar. However, that has been tempered somewhat by the fact that increasing raw material costs are pinching profits.Those elevated expenses showed up again in the fiscal second quarter and should continue to impact results going forward.