Welcome to our dedicated page for Sherwin-Williams news (Ticker: SHW), a resource for investors and traders seeking the latest updates and insights on Sherwin-Williams stock.
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.
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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