The Sherwin-Williams Company

The Sherwin-Williams Company delivered a solid result and managed an all-around beat in the last quarter. In the third quarter, Sherwin-Williams’ Paint Stores Group exhibited commendable resilience, with a 3.6% increase in sales, despite a demanding 21.5% comparison. The company’s proficient pricing strategies and amplified Pro architectural volume, excluding New Residential, were the principal drivers of this growth. Within the Paint Stores Group, the Protective & Marine sector emerged as the fastest-growing, achieving double-digit percentage sales growth against a mid-teens comparison. This remarkable progress was fueled by robust volume, primarily in industrial flooring, infrastructure, and oil and gas applications. The DIY business saw a low single-digit decline in sales, an arduous task considering the high 30s comparison. In terms of product categories, interior paint sales achieved a low single-digit increase, while exterior paint sales remained flat, both pitted against double-digit comparisons from the previous year. In the Performance Coatings Group, sales decreased by 1% compared to a low-teens comparison. The Industrial Wood business also demonstrated the most robust growth, achieving low double-digit percentage growth against a mid-single-digit comparison. The recent acquisition of Germany-based specialized industrial coatings holding, comprising Oskar Nolte and Klumpp Coatings businesses, predicts well for future momentum.