SHW · The Sherwin-Williams Company

Sherwin-Williams delivered a solid first quarter in 2026, with consolidated net sales rising 6.8% to $5.67 billion, driven by growth across all three reportable segments and a 1.7% favorable impact from foreign currency translation. The Paint Stores Group (PSG) posted a 3.7% sales increase, with same-store sales up 2.4%, led by double-digit growth in protective and marine and mid-single-digit gains in residential repaint and commercial. The Consumer Brands Group (CBG) saw a 19.2% sales surge, primarily due to the October 2025 acquisition of Suvinil and growth in Europe, partially offset by soft DIY demand in North America. The Performance Coatings Group (PCG) grew sales 6.5%, with double-digit growth in Automotive Refinish and high-single-digit increases in General Industrial and Packaging. Gross margin expanded despite the dilutive impact of Suvinil, while SG&A increased at a mid-single-digit rate excluding Suvinil and other headwinds. Net income rose 6.1% to $534.7 million, and diluted EPS increased 7.5% to $2.15. On an adjusted basis, diluted EPS grew 4.4% to $2.35. EBITDA increased 8.8% to $998.2 million, representing 17.6% of sales. Management noted that results exceeded guidance on a consolidated basis and in all segments, driven by growth investments and focus on new accounts. The company reaffirmed its full-year 2026 guidance, expecting consolidated net sales to be up low to mid-single digits and adjusted diluted EPS in the range of $11.50 to $11.90. For the second quarter, net sales are expected to be up mid-single digits. The company continues to implement targeted price increases and cost reduction actions amid geopolitical uncertainty and raw material volatility.