Sherwin-Williams reports Q3 adjusted EPS $3.37, consensus $3.54

Reports Q3 revenue $6.16B, consensus $6.2B. “Sherwin-Williams (SHW) grew sales, expanded gross margin, and increased EBITDA and adjusted diluted net income per share despite continued choppiness in the demand environment,” said CEO Heidi Petz. “Strong cash generation in the quarter enabled us to return $631M to our shareholders through dividends and share repurchases. We also chose to invest ahead of the curve in the quarter, given the unprecedented long-term opportunities that continue to emerge from an increasingly uncertain competitive landscape. We are highly confident these current near-term investments in stores, sales and technical reps, expanded services and digital capabilities will help generate sustained and profitable above-market growth. We expect SG&A to moderate sequentially, resulting in a low to mid-single digit increase for the second half as anticipated.”