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.
The Sherwin-Williams Company (NYSE: SHW) has revised its third quarter 2021 net sales guidance to project a change of low-single digits compared to Q3 2020, while maintaining its full-year guidance for sales growth in the high-single to low-double digit range. Diluted net income per share guidance stays unchanged at $8.01 to $8.31, reflecting acquisition-related expenses and losses from the Wattyl divestiture. The company cites continued strong demand but warns of significant raw material availability issues, exacerbated by Hurricane Ida, expected to negatively impact sales by a high-single-digit percentage for Q3.
The Sherwin-Williams Company (NYSE: SHW) announced an agreement to acquire Sika AG's European industrial coatings business, expected to close in early 2022. This acquisition, valued at approximately $82 million, aims to enhance Sherwin-Williams' performance coatings segment, leveraging Sika's corrosion protection systems for various infrastructures. Approximately 130 employees from Sika are set to join Sherwin-Williams, which anticipates synergies that will boost its financial performance.Sales of Sika's business were CHF 75 million ($82 million) in 2020.
The Sherwin-Williams Company (NYSE: SHW) reported a 16.9% increase in consolidated net sales for Q2 2021, reaching $5.38 billion. The diluted net income per share rose to $2.42, while adjusted diluted net income per share increased 11.8% to $2.65. EBITDA improved to $1.05 billion, constituting 19.5% of sales. The company reaffirmed its FY21 guidance for diluted net income per share between $8.01 and $8.31. However, raw material cost inflation and supply chain constraints presented challenges.
The Sherwin-Williams Company (NYSE: SHW) has announced a regular quarterly dividend of $0.55 per common share. This dividend is payable on September 10, 2021, to shareholders of record as of August 20, 2021. This consistent dividend payment reflects the company's ongoing commitment to returning value to its shareholders.
TransDigm Group appointed Jane M. Cronin to its Board of Directors on July 1, 2021. Cronin, currently Senior Vice President – Corporate Controller of Sherwin Williams, brings extensive experience in public company accounting and integration with acquisitions. Her addition is anticipated to enhance TransDigm's financial oversight and strategic growth. The Board confirmed her independence under NYSE and SEC standards, reflecting a commitment to strong governance. TransDigm is recognized for providing engineered aircraft components to the aerospace industry.
The Sherwin-Williams Company (NYSE: SHW) will release its second quarter 2021 financial results on July 27, 2021, before market opening. The results will be accessible via their website. Additionally, a conference call is scheduled for the same day at 11:00 a.m. EDT, where CEO John Morikis and other executives will discuss the company's financial performance and outlook for Q3 and the full year. The call will be available for live listening and archived replays on their investor relations page.
The Sherwin-Williams Company (NYSE: SHW) has raised its sales guidance for Q2 2021, projecting a high-teens percentage increase compared to Q2 2020. For the entire year, net sales guidance has been updated to reflect a rise of high-single to low-double digits over 2020. Expected diluted net income per share is now between $8.01 and $8.31, inclusive of acquisition-related amortization and a loss from the Wattyl divestiture. CEO John G. Morikis noted robust demand in both architectural and industrial markets, despite ongoing raw material inflation.
The Sherwin-Williams Company (NYSE: SHW) reported a strong financial performance for Q1 2021, with net sales rising 12.3% to $4.66 billion. Diluted net income per share increased 31.3% to $1.51, while adjusted diluted EPS surged 51.5% to $2.06. Notable growth was driven by demand for architectural paint and product volume increases across all segments. The company completed a three-for-one stock split and anticipates FY21 diluted net income per share between $7.66 and $7.93. However, it noted uncertainties regarding raw material availability.
The Sherwin-Williams Company (NYSE: SHW) announced the election of Aaron M. Powell to its Board of Directors during the Annual Meeting of Shareholders on April 21, 2021. Powell currently serves as President of Asia-Pacific Consumer Business for Kimberly-Clark Corporation and brings significant experience in global markets and operations. He has held various leadership roles within Kimberly-Clark since joining in 2007. His election is anticipated to enhance the board's diverse perspectives and contribute positively to Sherwin-Williams' strategies and shareholder interests.
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