The call highlighted Sherwin-Williams' ability to maintain strong gross margins and expand its market share through strategic investments and restructuring, despite facing a challenging demand environment and reduced earnings guidance.

Company Guidance

During the call, The Sherwin-Williams Company provided updated guidance for the fiscal year 2025, reflecting a challenging demand environment. Consolidated sales were within the guided range, with the Paint Stores Group experiencing growth, while other segments faced softness. Despite gross margin expansion for the twelfth consecutive quarter, adjusted earnings per share decreased due to higher non-operating costs and growth investments. The company revised its full-year adjusted earnings guidance downward, citing softer-than-anticipated architectural sales volumes and supply chain inefficiencies, although this was partially offset by reduced SG&A spending. The restructuring initiative was expanded to $105 million, expected to yield $80 million in annual savings. Capital expenditures were reduced by $170 million, and the company returned $716 million to shareholders through share repurchases. The guidance emphasized ongoing investments in growth initiatives, particularly in the Paint Stores Group, and maintaining a disciplined approach to SG&A costs.

Consistent Gross Margin Expansion

Sherwin-Williams reported its twelfth consecutive quarter of year-over-year gross margin growth, demonstrating strong pricing effectiveness, particularly within the Paint Stores Group.

Successful Restructuring Initiatives

The company doubled its restructuring initiatives target to $105 million, anticipating annual savings of approximately $80 million, reflecting proactive cost management.

Strong Performance in Paint Stores Group

Despite a challenging environment, the Paint Stores Group reported sales increase by a low single-digit percentage with significant market share gains in residential repainting.

Expansion and Investments

Sherwin-Williams opened 20 net new stores in the quarter and 38 year-to-date, ahead of last year’s pace, with plans to continue aggressive investments in the Paint Stores Group.

Sherwin-Williams Company (SHW) Earnings, Revenues Date & History

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SHW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	3.46 / -	3.37	―	―	―
Jul 22, 2025	2025 (Q2)	3.76 / 3.38	3.7	-8.65% (-0.32)
Apr 29, 2025	2025 (Q1)	2.15 / 2.25	2.17	3.69% (+0.08)
Jan 30, 2025	2024 (Q4)	2.06 / 2.09	1.81	15.47% (+0.28)
Oct 22, 2024	2024 (Q3)	3.55 / 3.37	3.2	5.31% (+0.17)
Jul 23, 2024	2024 (Q2)	3.49 / 3.70	3.29	12.46% (+0.41)
Apr 23, 2024	2024 (Q1)	2.22 / 2.17	2.04	6.37% (+0.13)
Jan 25, 2024	2023 (Q4)	1.80 / 1.81	1.89	-4.23% (-0.08)
Oct 24, 2023	2023 (Q3)	2.78 / 3.20	2.83	13.07% (+0.37)
Jul 25, 2023	2023 (Q2)	2.70 / 3.29	2.41	36.51% (+0.88)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SHW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 22, 2025	$340.56	$339.34	-0.36%
Apr 29, 2025	$330.76	$346.62	+4.80%
Jan 30, 2025	$358.06	$363.17	+1.43%
Oct 22, 2024	$378.56	$358.36	-5.34%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.