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) announced a quarterly dividend of $0.55 per common share, payable on June 4, 2021, to shareholders of record on May 21, 2021. This dividend rate reflects the 3-for-1 stock split executed on March 31, 2021, and remains unchanged from the prior dividend of $1.65 on a pre-split adjusted basis. The announcement signals the company's commitment to returning value to its shareholders amidst ongoing market trends.
The Sherwin-Williams Company (NYSE: SHW) will release its first quarter financial results on April 27, 2021, prior to market opening. The press release will provide details on financial conditions and operating segments. A conference call with Chairman and CEO John Morikis will occur at 11:00 a.m. EDT the same day, discussing results and future outlook. The call can be accessed via the company website and will be available for replay shortly after.
The Sherwin-Williams Company (NYSE: SHW) announced the resignation of President and COO David B. Sewell, effective March 12, 2021, as he takes a CEO position outside the coatings industry. Chairman and CEO John G. Morikis expressed gratitude for Sewell's 14 years of service. Morikis will also take on the President role, overseeing Sewell's duties during this transition. The company remains focused on delivering customer solutions and executing initiatives for long-term success.
The Sherwin-Williams Company (NYSE: SHW) has signed a purchase agreement with Hempel A/S to divest its Wattyl business in Australia and New Zealand. The transaction involves a business generating approximately $200 million USD in annual revenue and employing 750 staff. Expected to close in Q1 2021, this decision aims to realign company resources towards opportunities with greater growth and returns. Wattyl was acquired in 2017 through Sherwin-Williams' purchase of Valspar, and its performance no longer meets the company's strategic criteria.
The Sherwin-Williams Company (NYSE: SHW) announced a quarterly dividend of $1.65 per share, marking a 23.1% increase from $1.34 in the same quarter of 2020. The dividend will be paid on March 12, 2021, to shareholders of record as of March 1, 2021. Additionally, the Board authorized the repurchase of 15 million shares for treasury, with adjustments following a three-for-one stock split announced on February 3, 2021. This buyback authorization has no expiration date and aims to support general corporate purposes.
The Sherwin-Williams Company (NYSE: SHW) will conduct its annual Financial Community Presentation (FCP) virtually on June 8, 2021, from 9:00 am to 12:00 pm EDT, ensuring health safety amid the COVID-19 pandemic. This year's agenda includes a technology showcase and highlights on environmental, social, and governance (ESG) initiatives. Registration details will be shared closer to the event, with a live audio webcast available on the day. Sherwin-Williams is a leading global manufacturer of paint and coatings, offering sought-after brands through an extensive retail network.
The Sherwin-Williams Company (NYSE: SHW) announced a three-for-one stock split approved by its Board of Directors to enhance stock accessibility for employees and investors. Shareholders on record as of March 23, 2021 will receive two additional shares for each share held, with distribution after market close on March 31, 2021. Post-split trading will commence on April 1, 2021. This decision aims to broaden the investor base and facilitate employee ownership.
For the year ended December 31, 2020, Sherwin-Williams reported record net sales of $18.36 billion, up 2.6%, with fourth-quarter sales at $4.49 billion, a 9.1% increase. Full-year diluted net income per share rose 33.9% to $22.08, excluding acquisition-related costs, adjusted EPS was $24.58. Net operating cash increased 47% to $3.41 billion. The company forecasts 2021 diluted EPS between $23.87 and $24.67, anticipating mid-to-high single-digit sales growth. The Americas Group and Consumer Brands Group showed strong sales, while Performance Coatings Group saw a decline.
The Sherwin-Williams Company (NYSE: SHW) will announce its financial results for the fourth quarter and full year 2020 on January 28, 2021. A press release detailing the company's financial condition, operating segment results, and additional information will be available before market opening. Additionally, a conference call will be held at 11:00 a.m. EST on the same day, featuring comments from Chairman and CEO John Morikis and other executives. The call will be webcast live.
Sherwin-Williams reported a 5.2% increase in consolidated net sales for Q3 2020, totaling $5.12 billion. The diluted net income per share rose to $7.66 from $6.16 in Q3 2019, with adjusted earnings reaching $8.29 per share. EBITDA also increased to $1.11 billion (21.6% of sales). Notably, the company raised its FY20 diluted net income per share guidance to $21.49 to $21.79 per share. Strong cash flow generation was highlighted with $2.56 billion in net operating cash year-to-date, and ongoing strategic investments were made alongside shareholder returns of over $500 million.
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