Sherwin-Williams demonstrated resilience with growth in key segments and a strong pipeline for future projects. However, challenges persist due to natural disasters and soft market conditions in certain areas. Investments in strategic growth and favorable shareholder returns provide a positive outlook.

Company Guidance

In the third quarter of 2024, Sherwin-Williams reported growth across several metrics despite challenging market conditions. Consolidated sales increased, gross margin expanded, and both diluted earnings per share and EBITDA showed growth. The company returned $631 million to shareholders through dividends and share repurchases. Sales in all three segments were within the guidance range, and Sherwin-Williams maintained its full-year EPS guidance. The company highlighted its strategic investments aimed at long-term above-market growth, including store expansions and enhancements in digital capabilities. Sherwin-Williams opened 45 net new stores year-to-date, with plans to open 80 to 100 for the full year. The company's Paint Stores Group saw low single-digit sales growth, while the Consumer Brands Group experienced a high single-digit sales decrease, primarily due to unfavorable FX impacts. The Performance Coatings Group's sales remained flat, influenced by regional and segment-specific demand variations. Looking ahead, Sherwin-Williams anticipates a more normalized SG&A growth in the second half and is focused on executing strategic initiatives to navigate near-term challenges and capitalize on long-term opportunities.

Increased Sales and Earnings

Sherwin-Williams reported growth in consolidated sales and expanded gross margin, achieving increases in diluted earnings per share and EBITDA, with all segments performing within guidance.

Significant Shareholder Returns

The company returned $631 million to shareholders through dividends and share repurchases during the quarter.

Strong Performance in Protective & Marine Segment

Protective & Marine sales were up high single digits against a low double-digit comparison, with a strong pipeline of projects extending into next year.

Growth in Residential Repaint

Achieved the fifth consecutive quarter of mid-single-digit growth in Residential Repaint despite a flat to down market.

Performance Coatings Group Stability

The Performance Coatings Group maintained a strong adjusted segment margin at 18%, demonstrating robust performance even with choppy demand.

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Sherwin-Williams Company (SHW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SHW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 24, 2018	2018 (Q2)	- / 1.91	1.507	26.74% (+0.40)	―	―
Oct 25, 2018	2018 (Q3)	- / 1.89	1.583	19.58% (+0.31)	―	―
Jan 31, 2019	2018 (Q4)	- / 1.18	1.053	12.06% (+0.13)	―	―
Apr 23, 2019	2019 (Q1)	- / 1.20	1.19	0.84% (+0.01)	―	―
Jul 23, 2019	2019 (Q2)	- / 2.19	1.91	14.66% (+0.28)	―	―
Oct 22, 2019	2019 (Q3)	- / 2.22	1.893	17.12% (+0.32)	―	―
Jan 30, 2020	2019 (Q4)	- / 1.42	1.18	20.59% (+0.24)	―	―
Apr 29, 2020	2020 (Q1)	- / 1.36	1.2	13.33% (+0.16)	―	―
Jul 28, 2020	2020 (Q2)	- / 2.37	2.19	8.08% (+0.18)	―	―
Oct 27, 2020	2020 (Q3)	- / 2.76	2.217	24.63% (+0.55)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SHW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	$381.05	$360.71	-5.34%
Jul 23, 2024	$321.11	$343.18	+6.87%
Apr 23, 2024	$307.38	$300.52	-2.23%
Jan 25, 2024	$298.56	$301.38	+0.94%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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