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The Sherwin-Williams Company, a global leader in the paint and coatings industry, was founded in 1866 and has its global headquarters in Cleveland, Ohio. The company engages in the development, manufacture, distribution, and sale of paints, coatings, and related products. It serves professional, industrial, commercial, and retail customers across North and South America, Europe, and Asia. Sherwin-Williams operates through three main segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.
The Paint Stores Group is the largest segment, selling Sherwin-Williams branded architectural paints and coatings, industrial and marine products, and original equipment manufacturer product finishes through over 5,000 company-operated stores. This segment targets professional end-users such as contractors and painting professionals.
The Consumer Brands Group distributes branded products through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. Some of its well-known brands include Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® WaterSeal®, and Cabot®.
The Performance Coatings Group provides a broad range of highly-engineered solutions for the construction, industrial, packaging, and transportation markets across over 120 countries. The segment covers various applications such as automotive refinishing, protective and marine coatings, and general industrial finishes.
Recently, Sherwin-Williams has reported strong financial performance, with significant sales and margin growth across its segments. The company has been actively involved in strategic acquisitions and divestitures to streamline operations and focus on core growth areas. For instance, it has divested a non-core aerosol business in the U.S. and its China architectural business while acquiring German-based SIC Holding GmbH, enhancing its capabilities in the industrial wood and automotive coatings markets.
In its latest financial results, Sherwin-Williams reported record sales and earnings, with consolidated net sales reaching $23.05 billion and adjusted diluted net income per share increasing by 18.6% to $10.35 per share for the full year 2023. The company also generated strong operating cash flow, returning $2.06 billion to shareholders through dividends and share repurchases.
Looking forward, Sherwin-Williams continues to invest in growth initiatives, including new store openings, customer-focused innovation, and digital technologies, ensuring it remains a market leader. The company has a proven strategy and is well-positioned to navigate the variable demand environment across different regions and end-markets, maintaining its focus on creating shareholder value.
Nordson (NASDAQ: NDSN) has appointed Maria Spangler as director of Nordson Foundation and Community Relations, effective Dec. 2, 2024. She succeeds Cecilia Render, who will retire on Dec. 31, 2024. Spangler brings over 15 years of experience from Sherwin-Williams, where she most recently served as director of community engagement. In her previous role, she led community engagement strategy and corporate giving programs. The appointment reinforces Nordson's commitment to community investment through their Nordson Impact philanthropy initiative.
Sherwin-Williams announced that Executive Chairman John G. Morikis will retire on December 31, 2024, after 40 years with the company. He will remain on the Board until April 2025. The Board has elected current President and CEO Heidi G. Petz to assume the additional role of Chair effective January 1, 2025.
Petz joined Sherwin-Williams through the Valspar acquisition in 2017 and has held various leadership positions including President of Consumer Brands Group and The Americas Group. The Board believes this unified leadership structure, with Petz serving as both CEO and Chair, will provide the most efficient and effective model for the company.
Sherwin-Williams (NYSE: SHW) reported its Q3 2024 financial results, showing a 0.7% increase in consolidated net sales to $6.16 billion. The company's diluted net income per share rose 7.8% to $3.18, while adjusted diluted net income per share increased 5.3% to $3.37. EBITDA grew 1.2% to $1.28 billion, representing 20.8% of net sales.
The Paint Stores Group saw a 3.2% increase in net sales, driven by low-single digit sales volume growth and higher selling prices. The Consumer Brands Group experienced a 7.5% decrease in net sales due to soft DIY demand in North America. The Performance Coatings Group's net sales remained relatively flat.
Sherwin-Williams reaffirmed its full-year 2024 guidance, expecting diluted net income per share between $10.30 and $10.60, and adjusted diluted net income per share between $11.10 and $11.40. The company anticipates Q4 2024 consolidated net sales to be flat to up a low-single digit percentage compared to Q4 2023.
Sherwin-Williams (NYSE: SHW) has announced a regular quarterly dividend of $0.715 per common share. The dividend will be payable on December 6, 2024, to shareholders of record on November 15, 2024. This announcement was made by the company's Board of Directors on October 16, 2024.
The press release provides contact information for Investor Relations and Media representatives, including Jim Jaye (Senior Vice President, Investor Relations & Corporate Communications), Eric Swanson (Vice President, Investor Relations), and Julie Young (Vice President, Global Corporate Communications).
Sherwin-Williams (NYSE: SHW) has announced it will release its third quarter 2024 financial results on October 22, 2024, before the market opens. The company will host a conference call at 10:00 a.m. EDT on the same day to discuss the results and provide outlook for Q4 and full year 2024. Heidi Petz, President and CEO, along with other senior executives, will participate in the call.
The conference call will be webcast live and available for replay on the Sherwin-Williams investor relations website. Detailed financial information, including reportable segment results, will be accessible through a press release link on the company's website.
Sherwin-Williams (NYSE: SHW) has announced its upcoming Financial Community Presentation scheduled for August 29, 2024, in Boston, MA. The event will take place at the State Room, starting at 1:30 p.m. ET. Key presenters include President and CEO Heidi G. Petz and CFO Allen J. Mistysyn, along with other senior leaders.
The presentation will be webcast live with accompanying slides, accessible through the Sherwin-Williams investor relations website. In-person attendance is possible by registering online. Following the presentations, there will be a Q&A session and reception. Presentation slides will be made available on the company's website after the event concludes.
Sherwin-Williams (NYSE: SHW) reported its Q2 2024 financial results, showing consolidated net sales up 0.5% to $6.27 billion. The company saw diluted net income per share increase 14.0% to $3.50, while adjusted diluted net income per share rose 12.5% to $3.70. EBITDA grew 12.1% to $1.44 billion. The Paint Stores Group led performance with a 3.5% increase in net sales and 6.8% growth in segment profit. Consumer Brands Group sales declined 10.7%, while Performance Coatings Group sales increased slightly by 0.6%. Sherwin-Williams has increased its full-year 2024 guidance, now expecting diluted net income per share between $10.30 and $10.60, and adjusted diluted net income per share ranging from $11.10 to $11.40.
The Sherwin-Williams Company (NYSE: SHW) has announced a regular quarterly dividend of $0.715 per common share. This dividend will be payable on September 6, 2024, to shareholders of record on August 16, 2024. The announcement was made by the company's Board of Directors on July 17, 2024. This dividend declaration demonstrates Sherwin-Williams' commitment to returning value to its shareholders and may indicate the company's financial stability and confidence in its future performance.
The Sherwin-Williams Company (NYSE: SHW) will announce its financial results for the second quarter of 2024 on July 23, 2024, before the market opens. The release will include information on the company's financial health and segment performances.
A conference call will follow at 11:00 a.m. EDT, where CEO Heidi Petz and other senior executives will discuss the results and provide outlooks for Q3 and the full year 2024. The webcast of the call will be available on the Sherwin-Williams website, with an archived replay accessible two hours post-call.
Contact information for Investor Relations and Corporate Communications is provided in the release.
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