Sherwin-Williams reports Q1 adjusted EPS $2.35, consensus $2.27

Reports Q1 revenue $5.67B, consensus $5.56B. “Sherwin-Williams (SHW) delivered strong sales in a quarter characterized by heightened global uncertainty and continued demand softness in most end markets,” said CEO Heidi Petz. “Our growth investments and relentless focus on new accounts and share of wallet continued to yield results, as sales exceeded guidance on a consolidated basis and in all three reportable segments. Gross margin expanded, inclusive of the dilutive impact of the Suvinil acquisition. Against a challenging prior year comparison, SG&A increased by a mid-single digit percentage, excluding the expected headwinds from Suvinil, non-annualized operating costs and depreciation related to our new buildings and foreign currency translation. Our expectation of a low-single digit percentage increase in SG&A for the full year remains unchanged. Net income, adjusted earnings per share and EBITDA all increased over the prior year quarter. Our global team continues to execute our strategy, delivering reliability and consistency for our customers while focusing on what we can control.”