Sherwin-Williams by měl za čtvrtletí končící v září 2026 vykázat EPS ve výši 3,65 USD, což představuje meziroční nárůst o 1,7 %, a tržby ve výši 6,78 miliardy USD (+6,7 %).
Sherwin-Williams (SHW - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on October 27, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis paint and coatings maker is expected to post quarterly earnings of $3.65 per share in its upcoming report, which represents a year-over-year change of +1.7%.
Revenues are expected to be $6.78 billion, up 6.7% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Sherwin-Williams?For Sherwin-Williams, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.63%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Sherwin-Williams will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Sherwin-Williams would post earnings of $3.56 per share when it actually produced earnings of $3.70, delivering a surprise of +3.93%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Sherwin-Williams doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Sherwin-Williams otevřela rozšířený závod na architektonické barvy a nátěry ve Statesville v Severní Karolíně, který je nyní jejím největším závodem v Severní Americe. Investice přidává výrobní kapacitu, automatizaci a čtyři nové železniční vlečky.
Strategic investment strengthens manufacturing capacity, supply chain responsiveness and customer service across North America
, /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) today hosted a ceremonial ribbon-cutting celebrating the grand opening of its expanded architectural paint and coatings manufacturing facility in Statesville, North Carolina. The Statesville manufacturing facility is now Sherwin-Williams largest plant in North America.
(Left to right) Sherwin-Williams Senior Vice President of Government Affairs Ramola Musante; Vice Chair of Iredell County Melissa Neader; Statesville Mayor Doug Hendrix; Sherwin-Williams Chair, President and CEO Heidi Petz; North Carolina Lieutenant Government Rachel Hunt; Sherwin-Williams Global Supply Chain President and General Manager Colin Davie; and Sherwin-Williams Consumer Brands Group President Todd Rea. The expansion represents the culmination of years of planning, construction and collaboration. It strengthens Sherwin-Williams manufacturing, distribution and logistics capabilities, positioning the Company to better serve customers for years to come. With nearly 50,000 square feet of improvements, the facility includes expanded production space, automation enhancements, four new rail spurs and related infrastructure that streamline material handling and improve operational efficiency.
This project adds significant manufacturing capacity and enhanced logistics capabilities to support growing customer demand. The site also complements Sherwin-Williams nearby distribution service center, a new hub connecting production, transportation and distribution to the Company's global operations.
"This grand opening marks an important milestone for Sherwin-Williams and our Statesville team," said Heidi Petz, Chair, President and Chief Executive Officer of Sherwin-Williams. "With expanded production space, new rail infrastructure and greater automation, this facility gives us more flexibility and efficiency in how we manufacture and move products across our global supply network. It also advances our enterprise priority to strengthen supply chain responsiveness, helping us be an even more dependable and reliable supplier for our customers as we drive long-term growth."
This investment reflects the strength of a public-private partnership between Sherwin-Williams and the state of North Carolina, Iredell County and the City of Statesville, which include approved incentives in support of the project.
"Sherwin-Williams has been an important part of the Statesville community for more than three decades, and we are proud to celebrate their continued investment in North Carolina," said North Carolina Lt. Governor Rachel Hunt. "This expansion strengthens Statesville's role in advanced manufacturing, supports good jobs and reflects the confidence companies have in our people, infrastructure and business climate."
Sherwin-Williams has operated in Statesville since 1993. The site was selected for expansion because of its access to transportation infrastructure, skilled workforce and strategic location within the Company's manufacturing and distribution network.
"Projects like this show why Statesville continues to be a strong location for advanced manufacturing," said Statesville Mayor Doug Hendrix. "We are proud to support an expansion that brings together local talent, transportation access and public-private partnership to create lasting value for our community."
Several state, county and local public officials joined Sherwin-Williams employees and key project partners in celebrating this milestone event. In addition to Lt. Governor Hunt and Mayor Hendrix, Sherwin-Williams was honored to have public dignitaries provide remarks in person or via video at the ceremony, including Vice Chair of the Iredell County Board of Commissioners Melissa Neader, U.S. Senator Ted Budd and U.S. Representative Pat Harrigan.
ABOUT THE SHERWIN-WILLIAMS COMPANY
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® WaterSeal®, Cabot®, Suvinil® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,400 Company-operated stores and branches, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.
The Sherwin-Williams Company (NYSE:SHW – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $387.47.
Several research firms have commented on SHW. Wells Fargo & Company set a $340.00 price objective on shares of Sherwin-Williams and gave the company an “equal weight” rating in a report on Friday. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a report on Wednesday, July 29th. KeyCorp started coverage on Sherwin-Williams in a report on Thursday, September 10th. They set a “sector weight” rating on the stock. The Goldman Sachs Group set a $420.00 target price on Sherwin-Williams in a research report on Wednesday, July 29th. Finally, Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research report on Monday, June 8th.
Check Out Our Latest Stock Report on Sherwin-Williams
Shares of SHW opened at $329.09 on Friday. The business’s 50 day moving average is $338.58 and its 200 day moving average is $327.73. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. Sherwin-Williams has a 12-month low of $289.86 and a 12-month high of $377.77. The company has a market capitalization of $79.89 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. Sherwin-Williams (NYSE:SHW – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.18. Sherwin-Williams had a net margin of 11.01% and a return on equity of 67.97%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same period last year, the firm posted $3.38 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Research analysts expect that Sherwin-Williams will post 12.09 earnings per share for the current fiscal year.
Sherwin-Williams Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a $0.80 dividend. The ex-dividend date was Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. Sherwin-Williams’s payout ratio is 29.49%.
Insider Transactions at Sherwin-Williams In other Sherwin-Williams news, insider Karl Jorgenrud sold 7,886 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the sale, the insider directly owned 11,944 shares of the company’s stock, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Justin T. Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the completion of the sale, the insider directly owned 21,937 shares of the company’s stock, valued at $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Sherwin-Williams in the 2nd quarter worth about $6,100,083,000. Norges Bank bought a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $1,089,450,000. Wellington Management Group LLP grew its stake in Sherwin-Williams by 133.7% in the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock worth $958,821,000 after purchasing an additional 1,593,009 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Sherwin-Williams during the 2nd quarter worth $547,097,000. Finally, Legal & General Group Plc bought a new stake in Sherwin-Williams during the 2nd quarter valued at $459,652,000. Institutional investors own 77.67% of the company’s stock.
Sherwin-Williams Company Profile (Get Free Report)
The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings, floorcoverings and related products. Its offerings serve professional contractors, industrial and commercial customers, retailers and do-it-yourself consumers, with products used in residential, commercial, industrial and infrastructure applications.
The company operates through three primary business segments: Paint Stores Group, which supplies professional painting contractors through company-operated stores; Consumer Brands Group, which markets products through home-improvement retailers and other channels; and Performance Coatings Group, which provides specialized coatings for industrial, automotive, aerospace, packaging and other markets.
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Sherwin-Williams uvedla, že nové globální sídlo a Global Technology Center jsou strategické investice do dalšího růstu, inovací a zákaznické zkušenosti. Firma zároveň slaví 160. výročí.
The Sherwin-Williams Company (SHW) Discusses Strategic Investments, Market Position and Growth Outlook at Financial Community Presentation September 24, 2026 1:00 PM EDT
Company Participants
James Jaye - Senior Vice President of Investor Relations & Corporate Communications
Heidi Petz - Chairman, CEO & President
Justin Binns - President of Global Architectural
Todd Rea - President of Consumer Brands Group
Karl Jorgenrud - President of Global Industrial
Colin Davie - President and GM of Global Supply Chain Division & Consumer Brands Group
Benjamin Meisenzahl - Senior VP of Finance & CFO
Conference Call Participants
Patrick Cunningham - Citigroup Inc., Research Division
David Begleiter - Deutsche Bank AG, Research Division
Michael Rehaut
Patrick Fischer - Goldman Sachs Group, Inc., Research Division
Kevin McCarthy - Vertical Research Partners, LLC
Gregory Melich - Evercore ISI Institutional Equities, Research Division
Abigail Eberts - Wells Fargo Securities, LLC, Research Division
Jeffrey Zekauskas - JPMorgan Chase & Co, Research Division
Salvator Tiano
Steven Forbes - Guggenheim Securities, LLC, Research Division
Presentation
James Jaye
Senior Vice President of Investor Relations & Corporate Communications
Good afternoon, everybody, and welcome to the 2026 Sherwin-Williams Financial Community Presentation. I'm Jim Jaye, Senior Vice President of Investor Relations and Corporate Communications for the company. And on behalf of our leadership team who is here today, thank you for joining us in Cleveland as well as those who are online. We really appreciate you being with us today.
We are especially pleased to host you in our new global headquarters and later today at our new Global Technology Center. These are more than new buildings. They're strategic investments in continued industry leadership and a culture focused on talent, collaboration, innovation and ultimately delivering a world-class customer experience, and they're already beginning to create value for us.
This year also marks Sherwin-Williams' 160th anniversary. Few companies endure that long and even fewer continue evolving, continue leading and continue compounding value generation after
Sherwin-Williams uvedla, že neaktualizuje výhled z červencové výsledkové konference a výhled na rok 2026 zůstává beze změny. Firma zároveň zrychluje růst prostřednictvím expanze prodejen, AI a investic do dodavatelského řetězce.
Sherwin-Williams: The Boring Beauty Play on Housing RecoverySherwin-Williams NYSE: SHW said it is positioning its business for growth through continued share gains, productivity initiatives and investments in its store network, supply chain, technology and enterprise-wide customer solutions, even as it expects recovery in its end markets to be gradual and uneven.
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At the company’s 2026 Financial Community Presentation in Cleveland, Chair, President and CEO Heidi Petz said the coatings company is not waiting for a broader market recovery to drive results. “We are acting now, controlling what we can control, and catalyzing growth, importantly on both the top line and the bottom line,” Petz said.
Sherwin-Williams Plunges Into Buying Opportunity: Time to Buy?Senior Vice President of Investor Relations and Corporate Communications Jim Jaye said Sherwin-Williams generated about $23.6 billion in sales last year and, at the midpoint of its most recent guidance, expects to exceed $25 billion in 2026. The company operates in more than 120 countries and employs more than 64,000 people.
Market Recovery Expected to Be Uneven Jaye described a global coatings market estimated at nearly $200 billion, with the largest suppliers accounting for about half of industry sales and the remainder fragmented among hundreds of companies. Global coatings volumes grew less than 1% annually from 2019 through 2025, while North American and European volumes declined by low-single-digit percentages, he said.
Dividend Aristocrats or Dividend Kings: Which Is Best for You?Management cited long-term support for architectural coatings demand from household formation, homeowner equity, an aging housing stock and a multiyear housing shortage. Existing-home sales have been near historic lows for much of the past three years, Jaye said, but were modestly higher year to date through August. U.S. homeowner equity stood at roughly $36 trillion, more than double 2019 levels, according to the company.
Still, executives emphasized that near-term recovery will depend on mortgage rates, affordability, income growth and consumer confidence. Single-family new residential construction represents less than 10% of Sherwin-Williams’ consolidated sales, Jaye said.
Store Expansion and Industrial Growth Initiatives Justin Binns, president of Global Architectural, said the Paint Stores Group plans to open 80 to 100 net new stores annually as it works toward a 6,000-location milestone. He said there are about 12,000 specialty paint distribution points in the U.S. and Canada, with more than 7,000 that do not currently sell Sherwin-Williams products.
Binns said the company is refining individual store missions and using data to target priority customer segments and markets. He added that sales per store, profit before tax per store and segment margins have all increased from pre-pandemic levels.
Todd Rea, president of Consumer Brands Group, said the company has introduced new products, added field representatives supporting retail partners, divested non-core businesses in China, Australia and U.S. specialty aerosols, and optimized its Latin American legacy store footprint. He said the Suvinil acquisition in Brazil was approaching its first anniversary and was adding products, talent and capabilities to the portfolio.
In industrial coatings, Global Industrial President Karl Jorgenrud said the Performance Coatings Group’s six businesses focus on premium markets rather than commodity applications. The group has more than 1,500 technical service representatives globally and over 300 auto-refinish branches and industrial blending facilities, he said. Jorgenrud said sales in the portfolio have grown at a mid-single-digit rate during extended soft demand, while adjusted segment margins have improved by several hundred basis points into the high teens. He said 20% margins are attainable for the portfolio.
Technology, Supply Chain and AI Investment Management highlighted its new global headquarters and Global Technology Center as investments intended to support collaboration, innovation and customer service. Petz said the company is also expanding digital capabilities, including its Pro+ application for professional painters, the AI-enabled Color Expert app and an internal knowledge tool called Ask Henry.
Colin Davie, president of Global Supply Chain, said Sherwin-Williams is using AI tools in planning to respond more quickly to changes in customer demand. He also pointed to automated distribution centers, the company-owned fleet, enterprise procurement and shared technology platforms as sources of operational advantage.
Petz said the company’s Statesville, North Carolina, manufacturing and distribution center is fully operational and that Sherwin-Williams has developed a 10-year capacity-planning roadmap. Approximately 30% of company sales currently come from products with third-party sustainability-related certifications or declarations, she added.
Financial Model and Capital Allocation Chief Financial Officer Ben Meisenzahl said the company was not updating the guidance issued on its July 28 earnings call and that its 2026 outlook remains unchanged. He also said Sherwin-Williams is reaffirming the midterm financial targets it established at its 2024 Investor Day.
Meisenzahl said that through a period marked by raw-material inflation, supply chain disruption, higher interest rates and geopolitical events, the company grew sales by more than 5% annually, adjusted EBITDA by more than 6% annually and adjusted earnings per share by an average of 7% per year. Operating cash flow reached approximately $3.5 billion last year, he said.
Over the past seven years, gross margin expanded from roughly 42% to nearly 49%, while adjusted operating margin has increased in each of the past four years, according to Meisenzahl. Return on net assets employed rose from 13% in 2018 to more than 20% in each of the past three years, and management said it is confident it can move that measure into the mid-20% range.
The company intends to reinvest in growth, innovation, service and productivity, while targeting capital expenditures below 2% of sales over time. It also plans to maintain a dividend target of about 30% of prior-year GAAP earnings per share, pursue disciplined acquisitions and use share repurchases when strategic M&A opportunities are absent.
Meisenzahl said Sherwin-Williams has returned roughly $17 billion to shareholders over the past eight years, including annual dividend increases for nearly five decades and repurchases of approximately 18% of outstanding shares since 2017.
About Sherwin-Williams (NYSE:SHW)The Sherwin-Williams Company NYSE: SHW develops, manufactures, distributes and sells paints, coatings, floorcoverings and related products. Its offerings serve professional contractors, industrial and commercial customers, retailers and do-it-yourself consumers, with products used in residential, commercial, industrial and infrastructure applications.
The company operates through three primary business segments: Paint Stores Group, which supplies professional painting contractors through company-operated stores; Consumer Brands Group, which markets products through home-improvement retailers and other channels; and Performance Coatings Group, which provides specialized coatings for industrial, automotive, aerospace, packaging and other markets.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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McDonald’s je jediná ze tří sledovaných firem, která je už jen jedno zvýšení dividendy od statusu Dividend King. Má 49 po sobě jdoucích ročních zvýšení až do roku 2025.
Three longtime Dividend Aristocrats are closing in on a milestone only a handful of US companies have ever reached, but only one of them is genuinely standing on the doorstep of joining the most exclusive income-investing club in the market.
Dividend Kings are the rarest breed in income investing: US companies with at least 50 consecutive years of dividend increases. Of the three long-tenured Aristocrats profiled here, only one is genuinely on the doorstep. McDonald’s (NYSE:MCD | MCD Price Prediction) enters 2026 with 49 consecutive annual dividend increases through 2025, putting it exactly one hike away from Kinghood. Sherwin-Williams (NYSE:SHW) and Air Products & Chemicals (NYSE:APD) are decorated Aristocrats in their own right, but neither is one year away. Here is the safety read on all three, starting with the imminent addition.
McDonald’s: The One That Is One Raise Away McDonald’s carries a current dividend yield of 2.91% on a quarterly payout of $1.86 per share, which annualizes to $7.44. The last increase moved the quarterly rate from $1.77 in 2025 to $1.86 in 2026, extending a streak of 49 consecutive annual increases through 2025. The next declared raise, widely expected around the traditional fall board meeting cadence, would make McDonald’s a Dividend King.
Safety looks solid. The company earns a 31.9% net margin and a 46.1% operating margin, with interest coverage of 7.83x and a free cash flow yield of 4.09% that comfortably tops the current dividend yield. Q2 2026 adjusted EPS came in at $3.38, beating the $3.32 estimate, on revenue of $7.10 billion. Management guided full-year operating margin to the mid-to-high 40% range with free cash flow conversion in the low-to-mid 80s, and Q2 buybacks alone hit $858 million. The franchise model is the machine behind the streak: royalty and rent flows from 46,028 systemwide restaurants generate predictable cash that easily funds the payout.
The bull case for income investors is straightforward. A globally diversified, asset-light royalty stream with a loyalty base of ~220 million 90-day active users and a runway to 50,000 restaurants globally in 2028 is exactly the kind of business that funds five decades of raises. CFO Ian Borden told analysts on the Q2 call, “We continue to be highly disciplined allocators of capital towards new restaurants based on our ability to generate attractive returns.”
Risk to note: US traffic is under pressure. Q2 US comparable sales grew just 0.8%, and Borden said US comps were slightly negative in July. The stock has felt it, with the shares hitting two-year lows this week. Weak traffic does not threaten the dividend given the coverage cushion, but it caps near-term dividend-growth acceleration.
Sherwin-Williams: An Aristocrat, but Not One Year Away Sherwin-Williams pays a quarterly dividend of $0.80, with an annualized forward rate of $3.20 and a current dividend yield of roughly 0.98%. The 2026 quarterly rate stepped up from $0.79 in 2025 to $0.80. Sherwin is a well-established Aristocrat, but the verified dividend record here does not support a 50-year claim, so this name is several years short of Kinghood, not one.
Coverage looks robust. Q2 2026 delivered adjusted EPS of $3.70, beating $3.52, on revenue of $6.79 billion, up 7.5% year over year. Free cash flow jumped to $1.24 billion in the quarter with 86% FCF conversion, and the company returned $1.46 billion to shareholders via dividends and buybacks in Q2. Full-year adjusted EPS guidance was raised to $11.80 to $12.20, against trailing diluted EPS of $10.80. Return on equity sits at 65.1%, a remarkable figure for a paint and coatings business.
The bull case for income rests on dividend growth rather than headline yield. Sherwin runs a differentiated company-owned Paint Stores distribution network, took an 8% price increase in Paint Stores Group effective September 1, and has the pricing discipline to compound the payout over long stretches. For investors reinvesting, the payout ratio remains modest relative to earnings power.
Risk to note: management flagged that leading indicators point to continued demand softness in H2 2026, with broad-based cost inflation and higher interest expense from the Suvinil acquisition financing. Shareholders equity fell 12.4% year over year, a reminder that heavy buybacks and M&A are compressing book value even as cash returns grow.
Air Products & Chemicals: Long Streak, but Not Near 50 Air Products pays a quarterly dividend of $1.81, with an annualized forward rate of $7.24 and a current dividend yield of 2.51%. The 2026 quarterly amount stepped up from $1.79 in 2025 to $1.81. Air Products is a long-standing Aristocrat, but the verified record here does not place it within a year of the 50-year mark.
The safety read requires nuance. Adjusted fiscal Q3 2026 EPS came in at $3.47, beating $3.34 and up 12% year over year, on revenue of $3.16 billion, with adjusted operating margin expanding 110 basis points to 25.6%. Management raised FY26 adjusted EPS guidance to $13.39 to $13.49. On a GAAP basis the quarter reflected a loss per share of $6.47 driven by $2.90 billion in pre-tax project exit charges tied to the Louisiana Clean Energy Complex exit and related wind-downs, which pushed trailing diluted EPS to negative $0.20. Cash and equivalents also fell to $980.5 million, down 57.8% year over year. Adjusted earnings fund the payout, and on that basis coverage remains intact.
The bull case for income is oligopoly economics. Industrial gases run on long-dated take-or-pay contracts, and Air Products just won a long-term contract to supply high-purity industrial gases for a major U.S. semiconductor expansion. Add a Samsung semiconductor gas supply deal in South Korea and Asia segment operating income up 18%, and the cash-generation base underpinning the dividend is durable.
Risk to note: the clean-energy portfolio cleanup was expensive, cash on hand has dropped materially, and shares underperformed competitors in Wednesday’s trading. Investors are pricing in execution risk on the reset.
Bottom Line All three companies are Aristocrats whose business models, franchised restaurants, company-owned paint distribution, and take-or-pay industrial gas contracts, are the reason each has funded decades of raises. Only McDonald’s is verifiably one increase away from Dividend King status, sitting at 49 consecutive annual increases through 2025. Sherwin-Williams and Air Products are still compounding, but the crown belongs to the burger chain next. (If you want a broader look at the club McDonald’s is about to join, we ranked ten Kings by valuation in a free report here: 10 Dividend Kings to Buy Now and Hold Forever.)
Contact [email protected] for any questions or corrections.
Sherwin-Williams ve 2. čtvrtletí zvýšil upravený zisk na akcii na 3,70 USD a tržby na 6,79 miliardy USD, obojí nad odhady. Firma zároveň zvýšila celoroční výhled tržeb v mid- až high-single-digit range a upraveného zisku na akcii na 11,80–12,20 USD.
A month has gone by since the last earnings report for Sherwin-Williams (SHW - Free Report) . Shares have added about 1.4% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Sherwin-Williams due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Sherwin-Williams’ Q2 Earnings Beat Estimates on Broad-Based Sales GrowthSherwin-Williams reported second-quarter 2026 adjusted earnings of $3.70 per share, up 9.5% year over year. The figure surpassed the Zacks Consensus Estimate of $3.56 by 3.9%.
Revenues increased 7.5% year over year to $6.79 billion and beat the consensus mark of $6.62 billion by 2.6%. Growth across all three reportable segments, including contributions from the Suvinil acquisition, supported results.
Selling, general and administrative expenses increased to $2.1 billion from $2.01 billion. As a percentage of sales, SG&A expenses improved to 31% from 31.9%. Higher employee-related costs, expenses related to the Suvinil acquisition and costs associated with the company’s new headquarters and technology center affected the quarter.
Segmental ReviewPaint Stores Group sales increased 5.1% year over year to $3.89 billion. The improvement reflected mid-single-digit selling price increases and low-single-digit volume growth. Paint Stores Group same-store sales rose 4.2%.Sales rose across all professional customer markets, led by double-digit growth in protective and marine, high-single-digit growth in commercial and mid-single-digit growth in residential repaint.Paint Stores Group profit rose 4.5% to $957.6 million from $916.5 million.
Consumer Brands Group sales jumped 21.5% to $983.5 million from $809.4 million. Growth was driven primarily by the Suvinil acquisition, increased sales in North America and a 1.6% favorable foreign currency translation impact. Consumer Brands Group profit climbed 29.7% to $212.9 million. The increase reflected higher sales, favorable product mix, supply-chain efficiencies and currency transaction benefits, partly offset by raw material inflation and incremental Suvinil-related SG&A costs. Reported margin improved to 21.6% from 20.3%.
Performance Coatings Group sales advanced 6.3% to $1.91 billion. Low-single-digit gains in price and volume, along with a 2% favorable currency translation impact, aided results. General Industrial and Automotive Refinish recorded high-single-digit growth, while Packaging, Industrial Wood and Coil posted mid-single-digit gains. Performance Coatings Group profit increased 11.5% to $273.3 million. Higher sales more than offset raw material and employee-related cost increases. Reported segment margin expanded to 14.3% from 13.6%.
Cash Returns & Balance SheetSherwin-Williams generated $1.49 billion in net operating cash flow during the first six months of 2026. The company returned $2.23 billion to shareholders through dividends and repurchases of 5.6 million common shares.
As of June 30, 2026, cash and cash equivalents were $293.5 million. Short-term borrowings totaled $2.25 billion, while long-term debt was $8.33 billion. The company had authorization to repurchase 24 million shares remaining through open-market transactions.
OutlookFor the third quarter of 2026, Sherwin-Williams expects consolidated net sales to increase by a mid to high-single-digit percentage year over year. Management expects demand softness to continue during the second half based on customer sentiment and the leading indicators it monitors.
For full-year 2026, the company raised its net sales growth forecast in the mid- to high-single-digit range. It also increased reported earnings guidance to $10.92-$11.32 per share from $10.70-$11.10.
Adjusted earnings are projected at $11.80-$12.20 per share, up from the prior guidance of $11.50-$11.90.
How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.
VGM ScoresAt this time, Sherwin-Williams has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Sherwin-Williams has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Caisse de dépôt et placement du Québec ve 2. čtvrtletí koupila nový podíl v Sherwin-Williams za zhruba 5,47 mil. USD. Sherwin-Williams zároveň oznámila čtvrtletní EPS 3,70 USD a tržby 6,79 mld. USD.
Caisse de depot et placement du Quebec bought a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,896 shares of the specialty chemicals company’s stock, valued at approximately $5,473,000.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Sherwin-Williams during the 2nd quarter valued at about $6,100,083,000. Norges Bank bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $1,089,450,000. Bank of New York Mellon Corp bought a new stake in Sherwin-Williams during the 2nd quarter worth approximately $547,097,000. Legal & General Group Plc acquired a new stake in Sherwin-Williams during the 2nd quarter worth approximately $459,652,000. Finally, Viking Global Investors LP raised its holdings in Sherwin-Williams by 101.4% during the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company’s stock worth $672,213,000 after buying an additional 985,520 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.
Insiders Place Their Bets In other news, insider Karl J. Jorgenrud sold 7,886 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the sale, the insider directly owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This represents a 39.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin T. Binns sold 13,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the completion of the transaction, the insider owned 21,937 shares of the company’s stock, valued at $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Sherwin-Williams from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. The Goldman Sachs Group set a $420.00 price objective on shares of Sherwin-Williams in a report on Wednesday, July 29th. Berenberg Bank set a $380.00 price target on Sherwin-Williams in a research report on Monday, June 8th. Guggenheim began coverage on shares of Sherwin-Williams in a research report on Monday, August 3rd. They set a “buy” rating and a $400.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $405.00 price target (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $386.29. View Our Latest Stock Analysis on Sherwin-Williams
Sherwin-Williams Trading Down 0.1% Shares of SHW stock opened at $344.92 on Friday. The company has a market capitalization of $83.73 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The firm has a 50 day moving average price of $342.90 and a two-hundred day moving average price of $332.31. The company has a quick ratio of 0.46, a current ratio of 0.73 and a debt-to-equity ratio of 2.16. The Sherwin-Williams Company has a 12-month low of $289.86 and a 12-month high of $377.77.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.18. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.60 billion. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.38 EPS. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. As a group, analysts predict that The Sherwin-Williams Company will post 12.08 earnings per share for the current year.
Sherwin-Williams Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. Sherwin-Williams’s payout ratio is 29.49%.
(Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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EP Wealth Advisors ve 2. čtvrtletí nově koupila 7 853 akcií Sherwin-Williams za zhruba 2,704 milionu USD. Sherwin-Williams zároveň oznámila čtvrtletní zisk 3,70 USD na akcii a tržby 6,79 miliardy USD.
EP Wealth Advisors LLC acquired a new stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,853 shares of the specialty chemicals company’s stock, valued at approximately $2,704,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Sherwin-Williams in the 2nd quarter worth approximately $6,100,083,000. Norges Bank bought a new position in shares of Sherwin-Williams during the 4th quarter valued at $1,089,450,000. Bank of New York Mellon Corp purchased a new position in shares of Sherwin-Williams in the 2nd quarter worth $547,097,000. Viking Global Investors LP boosted its stake in shares of Sherwin-Williams by 101.4% in the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company’s stock worth $672,213,000 after buying an additional 985,520 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sherwin-Williams in the second quarter worth $297,600,000. Institutional investors own 77.67% of the company’s stock.
Sherwin-Williams Price Performance Shares of Sherwin-Williams stock opened at $347.02 on Friday. The stock has a market cap of $84.24 billion, a P/E ratio of 31.98, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.46 and a current ratio of 0.73. The stock’s fifty day moving average is $340.16 and its 200 day moving average is $332.81. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $379.65.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.18. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.60 billion. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.Sherwin-Williams’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.38 earnings per share. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Sell-side analysts anticipate that The Sherwin-Williams Company will post 12.08 earnings per share for the current year. Sherwin-Williams Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams’s payout ratio is 29.49%.
Insider Buying and Selling In other Sherwin-Williams news, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider owned 21,937 shares of the company’s stock, valued at $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the transaction, the insider directly owned 11,944 shares in the company, valued at $4,398,975.20. This represents a 39.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth A number of analysts recently commented on SHW shares. Evercore reiterated an “outperform” rating on shares of Sherwin-Williams in a research report on Friday, May 8th. Berenberg Bank set a $380.00 target price on Sherwin-Williams in a research report on Monday, June 8th. Royal Bank Of Canada restated an “outperform” rating and set a $405.00 price target (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. UBS Group reiterated a “neutral” rating and issued a $390.00 price objective on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price objective (up from $400.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $385.44.
Check Out Our Latest Stock Report on Sherwin-Williams
Sherwin-Williams Profile (Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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Allworth Financial LP bought a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,081 shares of the specialty chemicals company’s stock, valued at approximately $1,749,000.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Sherwin-Williams by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after purchasing an additional 600,119 shares in the last quarter. BlackRock Inc. acquired a new position in Sherwin-Williams in the second quarter valued at approximately $6,100,083,000. State Street Corp grew its holdings in shares of Sherwin-Williams by 2.4% during the fourth quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after purchasing an additional 364,832 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Sherwin-Williams by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after purchasing an additional 37,145 shares during the period. Finally, Norges Bank acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $1,089,450,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets SHW has been the topic of a number of recent research reports. BMO Capital Markets restated an “outperform” rating and issued a $405.00 target price (up from $400.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Berenberg Bank set a $380.00 price target on Sherwin-Williams in a report on Monday, June 8th. JPMorgan Chase & Co. raised their target price on Sherwin-Williams from $365.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Sherwin-Williams from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a report on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $385.44.
Get Our Latest Analysis on SHW Sherwin-Williams Stock Performance SHW stock opened at $347.02 on Friday. The Sherwin-Williams Company has a twelve month low of $289.86 and a twelve month high of $379.65. The company has a market cap of $84.24 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a quick ratio of 0.46, a current ratio of 0.73 and a debt-to-equity ratio of 2.16. The business’s fifty day moving average is $340.16 and its 200-day moving average is $332.81.
Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.18. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.60 billion. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.Sherwin-Williams’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.38 EPS. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Equities research analysts forecast that The Sherwin-Williams Company will post 12.08 EPS for the current year.
Sherwin-Williams Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams’s dividend payout ratio (DPR) is 29.49%.
Insider Buying and Selling In other Sherwin-Williams news, insider Karl J. Jorgenrud sold 7,886 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider directly owned 11,944 shares in the company, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justin T. Binns sold 13,500 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $352.70, for a total value of $4,761,450.00. Following the sale, the insider owned 21,937 shares of the company’s stock, valued at $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.
Sherwin-Williams Profile (Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
Recommended Stories Five stocks we like better than Sherwin-Williams Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates? Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Sherwin-Williams Company (NYSE:SHW – Free Report).
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Bank of New York Mellon Corp ve 2. čtvrtletí koupila 1 588 919 akcií společnosti Sherwin-Williams za zhruba 547,1 milionu USD a držela asi 0,65 % firmy.
Bank of New York Mellon Corp bought a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,588,919 shares of the specialty chemicals company’s stock, valued at approximately $547,097,000. Bank of New York Mellon Corp owned approximately 0.65% of Sherwin-Williams as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Sherwin-Williams in the fourth quarter worth about $2,496,000. Kinsale Capital Group Inc. bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $4,805,000. Calamos Advisors LLC increased its stake in shares of Sherwin-Williams by 5.4% during the fourth quarter. Calamos Advisors LLC now owns 180,602 shares of the specialty chemicals company’s stock valued at $58,520,000 after buying an additional 9,196 shares during the period. Vanguard Group Inc. increased its stake in shares of Sherwin-Williams by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after buying an additional 600,119 shares during the period. Finally, Blueline Advisors LLC purchased a new stake in Sherwin-Williams in the fourth quarter worth $1,694,000. Institutional investors own 77.67% of the company’s stock.
Wall Street Analyst Weigh In SHW has been the subject of a number of research analyst reports. Guggenheim started coverage on Sherwin-Williams in a research note on Monday, August 3rd. They issued a “buy” rating and a $400.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. Jefferies Financial Group restated a “hold” rating and issued a $375.00 price objective on shares of Sherwin-Williams in a report on Tuesday, July 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $405.00 target price (up from $400.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $385.44.
Read Our Latest Stock Analysis on Sherwin-Williams Sherwin-Williams Stock Performance NYSE:SHW opened at $347.02 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.46 and a current ratio of 0.73. The stock has a 50-day simple moving average of $340.16 and a two-hundred day simple moving average of $332.81. The firm has a market capitalization of $84.24 billion, a PE ratio of 31.98, a P/E/G ratio of 2.58 and a beta of 1.10. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week high of $379.65.
Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.18. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.60 billion. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.38 EPS. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Analysts forecast that The Sherwin-Williams Company will post 12.08 EPS for the current year.
Sherwin-Williams Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. Sherwin-Williams’s dividend payout ratio is presently 29.49%.
Insider Buying and Selling In related news, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the transaction, the insider owned 11,944 shares in the company, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin T. Binns sold 13,500 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the completion of the transaction, the insider directly owned 21,937 shares of the company’s stock, valued at $7,737,179.90. This represents a 38.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.
(Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
Read More Five stocks we like better than Sherwin-Williams Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
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Advisors Capital Management LLC bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,614 shares of the specialty chemicals company’s stock, valued at approximately $5,032,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after buying an additional 600,119 shares during the period. BlackRock Inc. acquired a new position in Sherwin-Williams in the second quarter valued at $6,100,083,000. State Street Corp boosted its holdings in Sherwin-Williams by 2.4% in the fourth quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after acquiring an additional 364,832 shares during the last quarter. Geode Capital Management LLC grew its position in Sherwin-Williams by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after acquiring an additional 37,145 shares during the period. Finally, Norges Bank purchased a new stake in Sherwin-Williams during the fourth quarter valued at about $1,089,450,000. 77.67% of the stock is owned by institutional investors and hedge funds.
Sherwin-Williams Price Performance
SHW opened at $346.60 on Friday. The Sherwin-Williams Company has a twelve month low of $289.86 and a twelve month high of $379.65. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.63 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. The company has a fifty day simple moving average of $339.56 and a 200 day simple moving average of $332.71.
Sherwin-Williams (NYSE:SHW – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.18. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.60 billion. Sherwin-Williams had a net margin of 11.01% and a return on equity of 67.97%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.38 EPS. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Equities research analysts expect that The Sherwin-Williams Company will post 12.08 EPS for the current fiscal year.
Sherwin-Williams Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $0.80 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams’s payout ratio is 29.49%.
Insider Transactions at Sherwin-Williams
In other news, insider Karl J. Jorgenrud sold 7,886 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the sale, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This trade represents a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction on Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the completion of the sale, the insider owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on SHW shares. Morgan Stanley restated an “overweight” rating and issued a $395.00 price objective (up from $385.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. BMO Capital Markets reissued an “outperform” rating and set a $405.00 target price (up from $400.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Sherwin-Williams from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research report on Monday, June 8th. Finally, Evercore reiterated an “outperform” rating on shares of Sherwin-Williams in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.44.
View Our Latest Analysis on Sherwin-Williams
Sherwin-Williams Profile
(Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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Cannon Wealth Management Services LLC ve 2. čtvrtletí nově nakoupila 12 933 akcií Sherwin-Williams za zhruba 4,453 milionu USD. Podíl tvoří asi 2,4 % portfolia a je 14. největší pozicí.
Cannon Wealth Management Services LLC acquired a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,933 shares of the specialty chemicals company’s stock, valued at approximately $4,453,000. Sherwin-Williams comprises about 2.4% of Cannon Wealth Management Services LLC’s portfolio, making the stock its 14th biggest position.
A number of other large investors also recently made changes to their positions in SHW. Vanguard Group Inc. lifted its position in Sherwin-Williams by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after acquiring an additional 600,119 shares in the last quarter. BlackRock Inc. bought a new position in Sherwin-Williams during the 2nd quarter worth about $6,100,083,000. State Street Corp raised its stake in shares of Sherwin-Williams by 2.4% in the 4th quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after purchasing an additional 364,832 shares during the period. Geode Capital Management LLC raised its stake in shares of Sherwin-Williams by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after purchasing an additional 37,145 shares during the period. Finally, Norges Bank bought a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $1,089,450,000. Institutional investors and hedge funds own 77.67% of the company’s stock.
Wall Street Analysts Forecast Growth Several research analysts have recently weighed in on SHW shares. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley restated an “overweight” rating and issued a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating on shares of Sherwin-Williams in a research report on Friday, May 8th. Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research note on Monday, June 8th. Finally, Guggenheim began coverage on shares of Sherwin-Williams in a report on Monday, August 3rd. They issued a “buy” rating and a $400.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $385.44.
Read Our Latest Report on Sherwin-Williams Insider Activity In other news, insider Justin T. Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider directly owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the sale, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.
Sherwin-Williams Stock Performance NYSE SHW opened at $346.60 on Friday. The firm has a market capitalization of $84.14 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. The firm’s fifty day moving average price is $339.56 and its two-hundred day moving average price is $332.71. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $379.65.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.18. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the firm posted $3.38 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12.08 EPS for the current year.
Sherwin-Williams Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.49%.
(Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
Further Reading Five stocks we like better than Sherwin-Williams 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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Aljian Capital Management LLC purchased a new position in The Sherwin-Williams Company (NYSE:SHW – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,284 shares of the specialty chemicals company’s stock, valued at approximately $787,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of SHW. Brighton Jones LLC grew its position in Sherwin-Williams by 73.6% in the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock worth $525,000 after buying an additional 655 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Sherwin-Williams by 11.2% in the 1st quarter. Empowered Funds LLC now owns 6,236 shares of the specialty chemicals company’s stock valued at $2,178,000 after purchasing an additional 626 shares during the period. Jump Financial LLC purchased a new position in Sherwin-Williams in the 2nd quarter worth about $1,210,000. Sei Investments Co. boosted its holdings in shares of Sherwin-Williams by 43.6% in the second quarter. Sei Investments Co. now owns 196,915 shares of the specialty chemicals company’s stock worth $67,612,000 after buying an additional 59,831 shares during the period. Finally, Glenview Trust co increased its position in shares of Sherwin-Williams by 4.8% in the second quarter. Glenview Trust co now owns 3,249 shares of the specialty chemicals company’s stock worth $1,116,000 after acquiring an additional 148 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.
Sherwin-Williams Stock Down 1.2% Shares of Sherwin-Williams stock opened at $345.62 on Wednesday. The firm has a market cap of $83.90 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.68 and a beta of 1.10. The stock has a 50-day simple moving average of $337.99 and a 200-day simple moving average of $332.78. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week high of $379.65. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.73 and a quick ratio of 0.46.
Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.18. Sherwin-Williams had a net margin of 11.01% and a return on equity of 67.97%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the previous year, the company earned $3.38 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. On average, equities research analysts expect that The Sherwin-Williams Company will post 12.08 earnings per share for the current fiscal year. Sherwin-Williams Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams’s payout ratio is currently 29.49%.
Analyst Ratings Changes Several equities analysts have weighed in on SHW shares. BMO Capital Markets reiterated an “outperform” rating and set a $405.00 price objective (up from $400.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Bank of America lowered their price target on Sherwin-Williams from $370.00 to $365.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. Berenberg Bank set a $380.00 target price on Sherwin-Williams in a research note on Monday, June 8th. JPMorgan Chase & Co. increased their price target on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $395.00 price objective (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $385.44.
View Our Latest Stock Report on SHW
Insider Activity at Sherwin-Williams In related news, insider Karl J. Jorgenrud sold 7,886 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
(Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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BlackRock ve 2. čtvrtletí koupil nový podíl v Sherwin-Williams za zhruba 6,1 miliardy USD a drží asi 7,3 % společnosti. Sherwin-Williams zároveň oznámila čtvrtletní dividendu 0,80 USD na akcii.
BlackRock Inc. purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 17,716,320 shares of the specialty chemicals company’s stock, valued at approximately $6,100,083,000. BlackRock Inc. owned approximately 7.30% of Sherwin-Williams at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Sherwin-Williams by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after buying an additional 600,119 shares in the last quarter. State Street Corp raised its position in Sherwin-Williams by 2.4% during the 4th quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after purchasing an additional 364,832 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sherwin-Williams by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after acquiring an additional 37,145 shares in the last quarter. Norges Bank purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at about $1,089,450,000. Finally, Viking Global Investors LP grew its holdings in shares of Sherwin-Williams by 10.1% during the 4th quarter. Viking Global Investors LP now owns 3,172,308 shares of the specialty chemicals company’s stock worth $1,027,923,000 after acquiring an additional 291,217 shares during the period. 77.67% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets Several research firms recently commented on SHW. Weiss Ratings raised shares of Sherwin-Williams from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $420.00 target price on shares of Sherwin-Williams in a report on Wednesday, July 29th. Guggenheim assumed coverage on Sherwin-Williams in a research report on Monday, August 3rd. They issued a “buy” rating and a $400.00 price target on the stock. Finally, Evercore restated an “outperform” rating on shares of Sherwin-Williams in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $385.44.
Read Our Latest Analysis on Sherwin-Williams Sherwin-Williams Stock Performance Shares of NYSE SHW opened at $349.57 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $84.86 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The Sherwin-Williams Company has a 12-month low of $289.86 and a 12-month high of $379.65. The firm has a 50 day moving average of $337.29 and a 200 day moving average of $332.81.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.18. Sherwin-Williams had a net margin of 11.01% and a return on equity of 67.97%. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter last year, the business earned $3.38 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. On average, research analysts anticipate that The Sherwin-Williams Company will post 12.08 earnings per share for the current year.
Sherwin-Williams Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 21st. Sherwin-Williams’s dividend payout ratio is presently 29.49%.
Insider Transactions at Sherwin-Williams In other Sherwin-Williams news, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider directly owned 11,944 shares of the company’s stock, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
Sherwin-Williams Profile (Free Report)
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
Read More Five stocks we like better than Sherwin-Williams Commodities Are Booming, But These 3 ETFs Tell Different Stories 3 Active ETFs Making Big Moves in August This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem Birkenstock Beats the Skeptics—But Not on EPS Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Sherwin-Williams Company (NYSE:SHW – Free Report).
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Sherwin-Williams ve 2. čtvrtletí zvýšil tržby o 7,5 % na 6,79 mld. USD a zisk na akcii o 14,3 % na 3,43 USD. Zároveň zvýšil celoroční výhled zisku na akcii.
, /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the second quarter ended June 30, 2026. All comparisons are to the second quarter of the prior year, unless otherwise noted.
SUMMARY
The Sherwin-Williams Company Reports 2026 Second Quarter Financial Results Consolidated Net sales increased 7.5% to $6.79 billion in the quarter Net sales from stores in the Paint Stores Group open more than twelve calendar months increased 4.2% in the quarter Diluted net income per share increased 14.3% to $3.43 per share in the quarter compared to $3.00 per share in the second quarter of 2025 Adjusted diluted net income per share increased 9.5% to $3.70 per share in the quarter compared to $3.38 per share in the second quarter of 2025 Net income increased 11.8% in the quarter to $843.6 million, or 12.4% of Net sales Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in the quarter increased 13.8% to $1.43 billion, or 21.1% of Net sales Increasing full year 2026 diluted net income per share guidance in the range of $10.92 to $11.32 per share, including Valspar acquisition-related amortization expense of $0.81 per share and severance and other restructuring expenses of $0.07 per share Increasing full year 2026 adjusted diluted net income per share guidance in the range of $11.80 to $12.20 per share CEO REMARKS
"Sherwin-Williams delivered strong second quarter results and continued to outperform the market despite ongoing global uncertainty and no meaningful improvement in demand," said Chair, President and Chief Executive Officer, Heidi G. Petz. "Sales improvement was driven by continued growth investments, new account wins and increased share of wallet, and exceeded guidance on a consolidated basis and across all three reportable segments. We also implemented pricing actions to offset raw material inflation that pressured our gross margin in the quarter. Adjusted EBITDA and diluted earnings per share rose approximately 10% year over year, and adjusted EBITDA margin grew 60 basis points to 21.5%. Net operating cash improved by 21% in the quarter, and free cash flow conversion in the quarter was 86%. We returned $1.46 billion to shareholders through dividends and share repurchases. Our team remains focused on executing our customer-centered strategy while controlling what we can control amidst a challenging macro-economic backdrop."
SECOND QUARTER CONSOLIDATED RESULTS
(in millions, except per share data)
Three Months Ended June 30,
2026
2025
$ Change
% Change
Net sales
$ 6,789.3
$ 6,314.5
$ 474.8
7.5 %
Income before income taxes
$ 1,112.5
$ 985.7
$ 126.8
12.9 %
Percent to Net sales
16.4 %
15.6 %
Net income per share - diluted
$ 3.43
$ 3.00
$ 0.43
14.3 %
Adjusted net income per share - diluted
$ 3.70
$ 3.38
$ 0.32
9.5 %
Consolidated Net sales increased primarily due to higher Net sales in all reportable segments, inclusive of the October 2025 acquisition of Suvinil.
Income before income taxes increased primarily due to higher Net sales, partially offset by a moderate rise in raw material costs, an increase in employee-related costs, incremental selling, general and administrative (SG&A) expenses associated with Suvinil, higher costs in the Administrative function related to the new global headquarters and technology center and additional interest expense attributable to an increase in short-term borrowings and long-term debt.
Diluted net income per share included a charge of $0.20 per share for Valspar acquisition-related amortization expense in the second quarter of 2026 and 2025. In the second quarter of 2026 and 2025, diluted net income per share also included a charge of $0.07 and $0.18 per share, respectively, related to severance and other restructuring expenses.
SECOND QUARTER SEGMENT RESULTS
(in millions)Paint Stores Group (PSG)
Three Months Ended June 30,
2026
2025
$ Change
% Change
Net sales
$ 3,890.0
$ 3,702.2
$ 187.8
5.1 %
Same-store sales (1)
4.2 %
0.8 %
Segment profit
$ 957.6
$ 916.5
$ 41.1
4.5 %
Reported segment margin
24.6 %
24.8 %
(1)Same-store sales represents Net sales from stores open more than twelve calendar months.
Net sales in PSG increased primarily due to selling price increases, which impacted Net sales by a mid-single digit percentage, as well as low-single digit percentage sales volume growth. Net sales increased in all professional customer end markets, led by a double-digit percentage increase in protective and marine, a high-single digit percentage increase in commercial and a mid-single digit percentage increase in residential repaint. Segment profit increased primarily due to higher Net sales, partially offset by a moderate rise in raw material costs and increased costs to support higher sales, including investments in additional sales reps and stores.
Consumer Brands Group (CBG)
Three Months Ended June 30,
2026
2025
$ Change
% Change
Net sales
$ 983.5
$ 809.4
$ 174.1
21.5 %
Segment profit
$ 212.9
$ 164.2
$ 48.7
29.7 %
Reported segment margin
21.6 %
20.3 %
Adjusted segment profit (1)
$ 241.4
$ 181.4
$ 60.0
33.1 %
Adjusted segment margin
24.5 %
22.4 %
(1)
Adjusted segment profit equals Segment profit excluding the impact of Valspar acquisition-related amortization expense and severance and other restructuring expenses. In CBG, Valspar acquisition-related amortization expense was $15.6 million and $15.5 million in the second quarter of 2026 and 2025, respectively, and severance and other restructuring expenses were $12.9 million and $1.7 million in the second quarter of 2026 and 2025, respectively.
Net sales in CBG increased primarily as a result of the acquisition of Suvinil, increased Net sales in North America and a 1.6% impact from favorable foreign currency translation. Segment profit increased primarily due to higher Net sales, favorable mix, supply chain efficiencies and benefits from foreign currency transaction gains and losses, partially offset by a moderate rise in raw material costs and incremental SG&A expenses associated with the Suvinil acquisition. Adjusted segment profit increased for these same reasons, including an increase in the expenses associated with targeted restructuring actions in the second quarter of 2026.
Valspar acquisition-related amortization expense reduced Segment profit as a percent of Net sales by 160 and 190 basis points in the second quarter of 2026 and 2025, respectively. Severance and other restructuring expenses reduced Segment profit as a percent of Net sales by 130 and 20 basis points in the second quarter of 2026 and 2025, respectively.
Performance Coatings Group (PCG)
Three Months Ended June 30,
2026
2025
$ Change
% Change
Net sales
$ 1,913.8
$ 1,801.1
$ 112.7
6.3 %
Segment profit
$ 273.3
$ 245.1
$ 28.2
11.5 %
Reported segment margin
14.3 %
13.6 %
Adjusted segment profit (1)
$ 332.0
$ 302.3
$ 29.7
9.8 %
Adjusted segment margin
17.3 %
16.8 %
(1)
Adjusted segment profit equals Segment profit excluding the impact of Valspar acquisition-related amortization expense and severance and other restructuring expenses. In PCG, Valspar acquisition-related amortization expense was $49.9 million and $49.0 million in the second quarter of 2026 and 2025, respectively, and severance and other restructuring expenses were $8.8 million and $8.2 million in the second quarter of 2026 and 2025, respectively.
Net sales in PCG increased primarily due to selling price increases, mainly attributable to product mix, which impacted Net sales by a low-single digit percentage, low-single digit percentage sales volume growth and a 2.0% impact from favorable foreign currency translation. Net sales increased in all businesses, led by General Industrial and Automotive Refinish, which each increased by a high-single digit percentage, and Packaging, Industrial Wood and Coil, which each increased by a mid-single digit percentage. Segment profit increased primarily due to higher Net sales, partially offset by a moderate rise in raw material costs and an increase in employee-related costs to support higher sales. Adjusted segment profit increased for these same reasons, including a modest increase in the expenses associated with targeted restructuring actions in the second quarter of 2026.
Valspar acquisition-related amortization expense reduced Segment profit as a percent of Net sales by 260 and 270 basis points in the second quarter of 2026 and 2025, respectively. Severance and other restructuring expenses reduced Segment profit as a percent of Net sales by 40 and 50 basis points in the second quarter of 2026 and 2025, respectively.
LIQUIDITY AND CASH FLOW
The Company generated $1.49 billion in Net operating cash and returned cash of $2.23 billion to our shareholders in the form of dividends and repurchases of 5.6 million shares of its common stock during the first six months of 2026. At June 30, 2026, the Company had remaining authorization to purchase 24.0 million shares of its common stock through open market purchases.
2026 GUIDANCE
Third Quarter
Full Year
2026
2026
Net sales
Up mid to high-single digit %
Up mid to high-single digit %
Effective tax rate
Low twenty percent
Diluted net income per share
$10.92
-
$11.32
Adjusted diluted net income per share (1)
$11.80
-
$12.20
(1)
Excludes $0.81 per share of Valspar acquisition-related amortization expense and $0.07 per share of severance and other restructuring expenses.
"Our better than expected second quarter results reflect the power of our differentiated model, our focus on the customer and the decisive actions our teams are taking to grow share, manage costs and respond to this dynamic environment," said Ms. Petz. "While customer sentiment and the leading indicators we track point to continued demand softness in the second half, we remain focused on the actions within our control. Our deep and experienced team is executing with urgency, driving share gains, improving productivity and maintaining discipline across the enterprise.
"During the second quarter, we took restructuring actions that are expected to generate approximately $17 million of annual savings, and we see additional opportunities to leverage our competitive advantages, simplify the business, improve execution and deliver greater value to our customers. At the same time, broad-based cost inflation continues across raw materials, energy, logistics and packaging, and we are responding with pricing actions across our businesses, including an announced 8% price increase in Paint Stores Group effective September 1.
"Against this backdrop, we expect third quarter 2026 consolidated Net sales to be up a mid to high-single digit percentage compared to the third quarter of 2025. We are raising our full year 2026 guidance, with consolidated Net sales expected to be up a mid to high-single digit percentage compared to full year 2025. Diluted net income per share is expected to be in the range of $10.92 to $11.32 per share, including acquisition-related amortization expense of $0.81 per share and severance and other restructuring expenses of $0.07 per share, compared to $10.26 per share in 2025. Full year 2026 adjusted diluted net income per share is expected to be in the range of $11.80 to $12.20 per share compared to $11.43 per share in 2025.
"We are pleased with our first-half performance and the momentum we are carrying into the second half of the year. Our updated outlook remains appropriately disciplined given the uncertain environment, but our confidence is grounded in the strength of our team, our customer relationships, our differentiated model and our proven ability to deliver."
CONFERENCE CALL INFORMATION
The Company will host a conference call to discuss its financial results for the second quarter, and its outlook for the third quarter and full year 2026, at 10:00 a.m. EDT on Tuesday, July 28, 2026. Heidi G. Petz, Sherwin-Williams' Chair, President and Chief Executive Officer, along with other senior executives, will participate on the call.
The conference call will be webcast simultaneously in listen only mode. To listen to the webcast on the Sherwin-Williams website, click on https://investors.sherwin-williams.com/financials/quarterly-results/, then click on the webcast icon following the reference to the Q2 webcast. An archived replay of the webcast will be available at https://investors.sherwin-williams.com/financials/quarterly-results/ beginning approximately two hours after the call ends.
ABOUT THE SHERWIN-WILLIAMS COMPANY
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® WaterSeal®, Cabot®, Suvinil® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,400 Company-operated stores and branches, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of federal securities laws. These forward-looking statements are based upon management's current expectations, predictions, estimates, assumptions and beliefs concerning future events and conditions and may relate to, among other things, anticipated future performance (including sales and earnings), expected growth, and future business plans. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "anticipate," "aspire," "believe," "could," "estimate," "expect," "goal," "intend," "may," "plan," "potential," "project," "seek," "should," "strive," "target," "will," or "would" or the negative thereof or comparable terminology.
Readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside our control, that could cause actual results to differ materially from such statements and from our historical results, performance and experience. These risks, uncertainties and other factors include such things as: general business and economic conditions in the United States and worldwide; inflation rates, interest rates, unemployment rates, labor costs, healthcare costs, recessionary conditions, geopolitical conditions, terrorist activity, armed conflicts and wars, public health crises, pandemics, outbreaks of disease and supply chain disruptions; shifts in consumer behavior driven by economic downturns in cyclical segments of the economy; shortages and increases in the cost of raw materials and energy; catastrophic events, adverse weather conditions and natural disasters (including those that may be related to climate change); disruptions to our information technology systems, including due to digitization efforts or cybersecurity incidents; our ability to attract, retain, develop and progress a qualified global workforce; the loss of any of our largest customers; increased competition or failure to keep pace with developments in key competitive areas of our business; our ability to successfully integrate past and future acquisitions, into our existing operations; risks and uncertainties associated with our expansion into and our operations in South America, Asia, Europe and other foreign markets; policy changes affecting international trade, including import/export restrictions and tariffs; our ability to achieve our strategies or expectations relating to sustainability considerations, including as a result of evolving legal, regulatory and other standards, processes and assumptions, the pace of scientific and technological developments, increased costs, the availability of requisite suppliers, energy sources, or financing and changes in carbon markets and carbon accounting rules; damage to our business, reputation, image or brands due to negative publicity; the infringement or loss of our intellectual property rights or the theft or unauthorized use of our trade secrets or other confidential business information; a weakening of global credit markets or changes to our credit ratings; our ability to generate cash to service our indebtedness; fluctuations in foreign currency exchange rates and changing monetary policies; our ability to comply with a variety of complex U.S. and non-U.S. laws, rules and regulations; increases in tax rates, or changes in tax laws or regulations; our ability to comply with numerous, complex and increasingly stringent domestic and foreign health, safety and environmental laws, regulations and requirements; our liability related to environmental investigation and remediation activities at some of our currently- and formerly-owned sites; the nature, cost, quantity and outcome of pending and future litigation, including lead pigment and lead-based paint litigation; and the other risk factors discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 and our other reports filed with the SEC.
Readers are cautioned that it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results and that the above list should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as otherwise required by law.
Eric Swanson
Vice President, Investor Relations
Direct: 216.566.2766
[email protected]
MEDIA CONTACT:
Julie Young
Vice President, Global Corporate Communications
Direct: 216.515.8849
[email protected]
The Sherwin-Williams Company and Subsidiaries
Statements of Consolidated Income (Unaudited)
(in millions, except per share data)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Net sales
$ 6,789.3
$ 6,314.5
$ 12,456.2
$ 11,620.2
Cost of goods sold
3,451.3
3,196.2
6,337.7
5,942.8
Gross profit
3,338.0
3,118.3
6,118.5
5,677.4
Percent to Net sales
49.2 %
49.4 %
49.1 %
48.9 %
Selling, general and administrative expenses
2,103.7
2,011.6
4,073.3
3,805.4
Percent to Net sales
31.0 %
31.9 %
32.7 %
32.7 %
Other general expense - net
3.4
6.3
9.7
15.2
Interest expense
135.9
112.4
267.5
216.2
Interest income
(5.4)
(2.4)
(8.2)
(5.7)
Other (income) expense - net
(12.1)
4.7
(16.1)
7.6
Income before income taxes
1,112.5
985.7
1,792.3
1,638.7
Income taxes
268.9
231.0
414.0
380.1
Net income
$ 843.6
$ 754.7
$ 1,378.3
$ 1,258.6
Net income per common share:
Basic
$ 3.46
$ 3.04
$ 5.63
$ 5.06
Diluted
$ 3.43
$ 3.00
$ 5.58
$ 5.00
Weighted average shares outstanding:
Basic
243.9
248.4
244.8
248.9
Diluted
246.0
251.3
247.1
251.9
The Sherwin-Williams Company and Subsidiaries
Business Segments (Unaudited)
(millions of dollars)
2026
2025
Net
Segment
Net
Segment
Sales
Profit (Loss)
Sales
Profit (Loss)
Three Months Ended June 30:
Paint Stores Group
$ 3,890.0
$ 957.6
$ 3,702.2
$ 916.5
Consumer Brands Group
983.5
212.9
809.4
164.2
Performance Coatings Group
1,913.8
273.3
1,801.1
245.1
Administrative
2.0
(331.3)
1.8
(340.1)
Consolidated totals
$ 6,789.3
$ 1,112.5
$ 6,314.5
$ 985.7
Six Months Ended June 30:
Paint Stores Group
$ 6,939.9
$ 1,516.4
$ 6,642.0
$ 1,457.7
Consumer Brands Group
1,891.8
410.1
1,571.6
296.1
Performance Coatings Group
3,619.6
505.7
3,403.1
457.8
Administrative
4.9
(639.9)
3.5
(572.9)
Consolidated totals
$ 12,456.2
$ 1,792.3
$ 11,620.2
$ 1,638.7
The Sherwin-Williams Company and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
(millions of dollars)
June 30,
2026
2025
Assets
Current assets:
Cash and cash equivalents
$ 293.5
$ 269.8
Accounts receivable, net
3,571.2
3,111.9
Inventories
2,529.7
2,484.6
Other current assets
604.8
559.0
Total current assets
6,999.2
6,425.3
Property, plant and equipment, net
4,219.4
3,805.9
Goodwill
8,023.2
7,807.6
Intangible assets
3,803.7
3,543.4
Operating lease right-of-use assets
2,059.9
2,011.3
Other assets
1,846.0
1,770.1
Total assets
$ 26,951.4
$ 25,363.6
Liabilities and Shareholders' Equity
Current liabilities:
Short-term borrowings
$ 2,246.4
$ 1,706.7
Accounts payable
2,826.4
2,570.0
Compensation and taxes withheld
768.4
688.9
Accrued taxes
405.4
255.8
Current portion of long-term debt
1,498.4
1,150.7
Current portion of operating lease liabilities
486.5
480.7
Other accruals
1,395.5
1,343.6
Total current liabilities
9,627.0
8,196.4
Long-term debt
8,327.3
7,828.9
Postretirement benefits other than pensions
133.4
120.7
Deferred income taxes
757.2
560.9
Long-term operating lease liabilities
1,656.8
1,603.2
Other long-term liabilities
2,595.0
2,652.6
Shareholders' equity
3,854.7
4,400.9
Total liabilities and shareholders' equity
$ 26,951.4
$ 25,363.6
Reconciliation of Non-GAAP Financial Measures
Management of the Company utilizes certain financial measures that are not in accordance with U.S. generally accepted accounting principles (US GAAP) to analyze and manage the performance of the business. Management provides non-GAAP information in reporting its financial results to give investors additional data to evaluate the Company's operations. Management does not, nor does it suggest investors should, consider such non-GAAP measures in isolation from, or in substitution for, financial information prepared in accordance with US GAAP.
Management believes that investors' understanding of the Company's operating performance is enhanced by the disclosure of diluted net income per share excluding Valspar acquisition-related amortization and certain other adjustments. Valspar acquisition-related amortization expense is excluded from diluted net income per share due to its significance as a result of the purchase price assigned to finite-lived intangible assets at the date of acquisition and the related impact on underlying business performance and trends. While these intangible assets contribute to the Company's revenue generation, the related revenue is not excluded. This adjusted diluted earnings per share measurement is not in accordance with US GAAP. It should not be considered a substitute for diluted earnings per share computed in accordance with US GAAP and may not be comparable to similarly titled measures reported by other companies. The following tables reconcile diluted net income per share computed in accordance with US GAAP to adjusted diluted net income per share.
Year Ending
Three Months Ended
Six Months Ended
December 31, 2026
June 30, 2026
June 30, 2026
(after-tax guidance)
Pre-Tax
Tax
Effect (1)
After-Tax
Pre-Tax
Tax
Effect (1)
After-Tax
Low
High
Diluted net income per share
$ 3.43
$ 5.58
$ 10.92
$ 11.32
Acquisition-related amortization expense (2)
$ .27
$ .07
.20
$ .53
$ .13
.40
.81
.81
Severance and other restructuring expenses
.10
.03
.07
.10
.03
.07
.07
.07
Adjusted diluted net income per share
$ 3.70
$ 6.05
$ 11.80
$ 12.20
Three Months Ended
Six Months Ended
Year Ended
June 30, 2025
June 30, 2025
December 31, 2025
Pre-Tax
Tax
Effect (1)
After-Tax
Pre-Tax
Tax
Effect (1)
After-Tax
Pre-Tax
Tax
Effect (1)
After-Tax
Diluted net income per share
$ 3.00
$ 5.00
$ 10.26
Acquisition-related amortization expense (2)
$ .26
$ .06
.20
$ .51
$ .13
.38
$ 1.03
$ .25
.78
Severance and other restructuring expenses
.23
.05
.18
.31
.07
.24
.44
.10
.34
Trademark impairment
—
—
—
—
—
—
.07
.02
.05
Adjusted diluted net income per share
$ 3.38
$ 5.62
$ 11.43
(1)
The tax effect is calculated based on the statutory rate and the nature of the item, unless otherwise noted.
(2)
Acquisition-related amortization expense, which is included within Selling, general and administrative expenses, consists of the amortization of intangible assets related to the Valspar acquisition. These intangible assets are primarily customer relationships and intellectual property and are being amortized over their remaining useful lives.
Management believes that investors' understanding of the Company's operating performance is enhanced by the disclosure of EBITDA, which is a non-GAAP financial measure defined as Net income before Interest expense, Income taxes, depreciation and amortization, as well as Adjusted EBITDA, which is a non-GAAP financial measure that excludes certain adjustments that management further believes enhances investors' understanding of the Company's operating performance. The reader is cautioned that the Company's EBITDA and Adjusted EBITDA should not be compared to other entities unknowingly. Further, EBITDA and Adjusted EBITDA should not be considered alternatives to Net income as an indicator of operating performance. The following table reconciles Net income computed in accordance with US GAAP to EBITDA and Adjusted EBITDA, as applicable.
(millions of dollars)
Three Months
Three Months
Six Months
Ended
Ended
Ended
March 31, 2026
June 30, 2026
June 30, 2026
Net income
$ 534.7
$ 843.6
$ 1,378.3
Interest expense
131.6
135.9
267.5
Income taxes
145.1
268.9
414.0
Depreciation
98.3
98.5
196.8
Amortization
88.5
87.9
176.4
EBITDA
$ 998.2
$ 1,434.8
$ 2,433.0
Severance and other restructuring expenses
—
23.8
23.8
Adjusted EBITDA
$ 998.2
$ 1,458.6
$ 2,456.8
Three Months
Three Months
Six Months
Ended
Ended
Ended
March 31, 2025
June 30, 2025
June 30, 2025
Net income
$ 503.9
$ 754.7
$ 1,258.6
Interest expense
103.8
112.4
216.2
Income taxes
149.1
231.0
380.1
Depreciation
79.9
79.3
159.2
Amortization
81.0
83.4
164.4
EBITDA
$ 917.7
$ 1,260.8
$ 2,178.5
Severance and other restructuring expenses
19.3
59.0
78.3
Adjusted EBITDA
$ 937.0
$ 1,319.8
$ 2,256.8
Management believes that investors' understanding of the Company's operating performance and ability to generate shareholder value is enhanced by the disclosure of free cash flow conversion. Free cash flow, which is a non-GAAP financial measure, is defined as Net operating cash less Capital expenditures. Free cash flow conversion, which is a non-GAAP financial measure, is defined as free cash flow divided by EBITDA, another non-GAAP financial measure discussed and reconciled above. The reader is cautioned that free cash flow and free cash flow conversion should not be compared to other entities unknowingly. Further, free cash flow and free cash flow conversion should not be considered alternatives to Net operating cash as determined in accordance with GAAP. The following table reconciles Net operating cash computed in accordance with US GAAP to free cash flow and free cash flow conversion.
(millions of dollars)
Three Months
Ended
June 30, 2026
Net operating cash
$ 1,347.5
Capital expenditures
(108.4)
Free cash flow
$ 1,239.1
EBITDA
$ 1,434.8
Free cash flow conversion
86 %
The Sherwin-Williams Company and Subsidiaries
Selected Information (Unaudited)
(millions of dollars, except store count data)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Depreciation
$ 98.5
$ 79.3
$ 196.8
$ 159.2
Capital expenditures
108.4
181.5
246.7
370.8
Cash dividends
197.5
197.9
394.6
398.3
Amortization of intangibles
87.9
83.4
176.4
164.4
Significant components of Other general expense - net:
Provisions for environmental related matters - net
$ 3.3
$ 0.4
$ 3.4
$ 3.5
Loss (gain) on sale or disposition of assets
0.1
(1.3)
(1.8)
(3.4)
Other
—
7.2
8.1
15.1
Significant components of Other (income) expense - net:
Investment gains
$ (9.7)
$ (6.3)
$ (6.4)
$ (9.5)
Foreign currency transaction related losses (gains) - net
0.3
13.1
(5.5)
23.1
Other (1)
(2.7)
(2.1)
(4.2)
(6.0)
Store Count Data:
Paint Stores Group - net new stores
(6)
20
(12)
38
Paint Stores Group - total stores
4,841
4,811
4,841
4,811
Consumer Brands Group - net new stores
—
(28)
1
(22)
Consumer Brands Group - total stores
308
312
308
312
Performance Coatings Group - net new branches
—
—
—
—
Performance Coatings Group - total branches
317
324
317
324
(1) Consists of items of revenue, gains, expenses and losses unrelated to the primary business purpose of the Company.
