Sherwin-Williams Q1 Report 2024

Highlights

  • Consolidated sales decreased 1.4% and at the low-end of previously provided guidance
  • Lower than expected architectural volume partially offset by modest contribution from price
  • Year-over-year improvement in gross margin driven primarily by lower raw material costs.
  • Higher SG&A in the quarter reflects customer-focused growth investments we made in second half of prior year which have not yet annualized
  • Adjusted EPS increased 6.4% to $2.17/share
  • EBITDA margin increased 60 basis points to 16.7%
  • Returned $728.0 million to shareholders through dividends and share repurchases

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