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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.
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.
The Sherwin-Williams Company (NYSE: SHW) has declared a regular quarterly dividend of $1.34 per common share, payable on December 4, 2020. Shareholders of record as of November 13, 2020 will receive this dividend.
This announcement underscores the company's commitment to returning value to its shareholders, reflecting confidence in its ongoing financial performance.
The Sherwin-Williams Company (NYSE: SHW) is set to announce its third-quarter financial results on October 27, 2020, prior to market opening. The release will provide insights into the company's financial health and performance across its operating segments. Following the announcement, a conference call is scheduled for 11:00 a.m. EDT on the same day to discuss the results and the outlook for the fourth quarter and full year. Participants will include Chairman and CEO John Morikis and other senior executives.
The Sherwin-Williams Company (NYSE: SHW) has revised its net sales guidance upwards for Q3 2020, expecting a 3-5% increase compared to Q3 2019. This is a significant change from previous guidance of low-single-digit fluctuations. For the full year, consolidated net sales are anticipated to be flat to slightly up, compared to 2019. Diluted net income per share guidance has also been raised to $20.96-$21.46, up from $19.21-$20.71. The positive outlook is attributed to strong demand in architectural coatings and improved performance in the industrial sector.
Sherwin-Williams Company (NYSE: SHW) has announced key partners for its new global headquarters and R&D center in Cleveland, with a planned investment of at least $600 million. The headquarters will span approximately 1 million square feet, while the R&D center will cover 500,000 square feet. This development is expected to create 400 new jobs, increasing the local workforce by 11%. The timeline for completion has been updated to 2024, shifting from the previously expected late 2023 date.
The Sherwin-Williams Company (NYSE: SHW) reported Q2 2020 net sales of $4.60 billion, a 5.6% decrease largely due to COVID-19 impacts, while year-to-date net sales fell 1.9% to $8.75 billion. Despite the sales decline, diluted EPS rose to $6.48 from $5.03 in Q2 2019. Adjusted EBITDA increased 6.2% to $979 million. The company raised its FY20 diluted EPS guidance to $19.21-$20.71, up from a previous range of $16.46-$18.46. Net operating cash surged 42% to $1.07 billion. The Consumer Brands Group saw a 21.8% sales increase, while the Performance Coatings Group experienced a 16.5% sales drop.
The Sherwin-Williams Company (NYSE: SHW) announced a regular quarterly dividend of $1.34 per common share, payable on September 11, 2020. Shareholders of record as of August 21, 2020 will receive this distribution. This move reflects the company's ongoing commitment to return value to its shareholders despite the economic challenges posed by the pandemic.
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