Sherwin-Williams Third-Quarter Net Sales Rise 7.9% to $6.86 Billion, Adjusted EPS $3.63; Full-Year Guidance Narrowed to $11.85-$12.15
The Sherwin-Williams Company (NYSE: SHW), founded in 1866 and headquartered in Cleveland, Ohio, on October 27 reported financial results for the third quarter ended September 30, 2026. Consolidated net sales increased 7.9% to $6.86 billion, from $6.358 billion a year earlier. Net income decreased 1.5% to $821.0 million, or 12.0% of net sales. Diluted net income per share increased 0.9% to $3.38, from $3.35 a year earlier, and adjusted diluted net income per share increased 1.1% to $3.63, from $3.59. EBITDA increased 3.4% to $1.39 billion and adjusted EBITDA increased 3.3% to $1.40 billion. The company returned $749.0 million to shareholders in the quarter through dividends and share repurchases.
By segment, Paint Stores Group net sales increased 4.7% to $4.016 billion, with sales from stores open more than twelve calendar months up 3.9%, and segment profit rose 2.1% to $974.3 million. Consumer Brands Group net sales increased 21.7% to $937.4 million, driven mainly by the October 2025 acquisition of Brazilian brand Suvinil, while segment profit fell 7.1% to $146.2 million. Performance Coatings Group net sales increased 8.8% to $1.903 billion and segment profit rose 6.2% to $255.2 million. The company said gross margin was mainly affected by higher raw material and supply chain costs and by mix, and that excluding the dilutive impact of Suvinil, year-to-date gross margin was flat versus the prior year.
Chair, President and Chief Executive Heidi G. Petz said the quarter demonstrated the company's resilience in a challenging demand environment, with sales growth in all three segments at or above guidance, and that leading indicators point to muted demand for the rest of the year and into 2027. The company revised its full year 2026 guidance: diluted net income per share is now expected at $10.92 to $11.22, and adjusted diluted net income per share guidance was narrowed to $11.85 to $12.15, versus $11.43 in 2025. Fourth quarter consolidated net sales are expected to rise by a mid-single-digit percentage, and full year net sales by a mid to high-single-digit percentage. The company held a conference call on October 27.
Source: GSM · USA (original Chinese edition)
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