Core Viewpoint - The Sherwin-Williams Company has declared a quarterly dividend of $0.80 per common share, marking the 47th consecutive year of dividend increases [1] Group 1: Dividend Announcement - The dividend is payable on March 13, 2026, to shareholders of record on March 2, 2026 [1]

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In 1991, the paint-making company Sherwin-Williams (NYSE: SHW) was celebrating more than its 125th birthday. That year, profits climbed to $63 million on sales of $1.37 billion, securing Sherwin-Williams' place as one of the very few companies to dominate its industry for a century. Since then, profits have risen to $3.34 billion across all segments, a 5,200% rise. Capital appreciation naturally followed; since 1991, shares have returned 13,470%. Over the last few decades, Sherwin-Williams has been one o ...

Company Overview - The Sherwin-Williams Company, based in Cleveland, Ohio, specializes in the development, manufacture, distribution, and sale of paint, coatings, and related products for various customer segments including professional, industrial, commercial, and retail [1] Stock Performance - Over the past year, Sherwin-Williams shares have underperformed the broader market, with a 1.5% increase compared to the S&P 500 Index's 14.9% return [2] - Year-to-date, the company's shares have risen 12.5%, outperforming the S&P 500's 1.8% gain [2] - The stock has lagged behind the State Street Materials Select Sector SPDR ETF, which increased by 18.7% over the past 52 weeks [3] Financial Performance - On January 29, Sherwin-Williams reported Q4 2025 adjusted EPS of $2.23 and revenue of $5.6 billion, exceeding expectations [6] - The company achieved record full-year net sales of $23.57 billion and provided guidance for 2026 adjusted EPS in the range of $11.50 to $11.90 [6] - For the fiscal year ending December 2026, analysts project a 4.3% year-over-year increase in adjusted EPS to $11.92 [7] Analyst Ratings and Price Targets - Among 26 analysts covering Sherwin-Williams, the consensus rating is a "Moderate Buy," with 14 "Strong Buy" ratings, two "Moderate Buys," nine "Holds," and one "Strong Sell" [7] - Mizuho raised the price target for Sherwin-Williams to $400 while maintaining an "Outperform" rating, with a mean price target of $392.19 representing an 8.8% premium to current levels [8] - The highest price target of $420 implies a potential upside of 16.5% from current price levels [8]

Group 1 - The Dow Jones Industrial Average (DJIA) surged over 1200 points, approximately 2.5%, closing at a historic high of 50,115.67 points, marking the fastest completion of a 10,000-point increase from 40,000 to 50,000 since May 2024 [1] - The upward trend in the DJIA has shifted from a focus on technology stocks to a broader range of sectors, benefiting traditional industries and defensive sectors, with notable performances from Goldman Sachs, Caterpillar, Amgen, and Sherwin-Williams [1] - The strong corporate earnings, resilient U.S. economy, and the Federal Reserve's interest rate cuts last year have collectively driven the overall market higher [1] Group 2 - Gina Bolvin, President of Bolvin Wealth Management Group, indicated that the DJIA's breakthrough of 50,000 is more of a confirmation than a celebration, reflecting investor confidence amidst higher interest rates and global uncertainties [2] - Healthcare stocks, particularly Johnson & Johnson and Merck, have shown resilience, ranking as the second and fifth best-performing components of the DJIA over the past 12 months [2] - Investors are increasing allocations to high-dividend and defensive consumer staples stocks, with Coca-Cola and Walmart being among the top gainers in the DJIA over the past year [2] - Despite the market's broadening focus, technology and AI sectors remain strong, with Nvidia's stock rising approximately 44% over the past year, making it the third-largest gainer in the DJIA [2]

Core Insights - Sherwin-Williams reported strong fourth-quarter results, driven by solid core performance and the first full quarter of the Suvenil acquisition, with consolidated sales increasing by a mid-single-digit percentage [4] - The company achieved an adjusted diluted net income per share increase of 6.7% and a 13.4% growth in adjusted EBITDA, reflecting effective cost control and operational efficiency [4][8] - The demand environment remains challenging, with expectations of continued softness in the market, particularly in residential and commercial segments, but the company aims to outperform the market through strategic investments and share gains [7][19][30] Financial Performance - Adjusted segment margin improved by 150 basis points to 19%, attributed to new business wins and effective control of SG&A expenses, which decreased in the administrative segment [1] - Free cash flow conversion for the quarter was 90.1%, with net operating cash growing 9.4% to $3.5 billion, representing 14.6% of sales [3][8] - The company returned $2.5 billion to shareholders through share repurchases and dividends, marking the 47th consecutive year of dividend increases [9] Segment Analysis - Paint Stores Group sales increased in line with expectations, driven by high single-digit growth in protective and marine segments, while residential repaint growth was slightly below mid-single digits [3][11] - Consumer Brands Group sales grew by a low single-digit percentage, primarily due to the Suvenil acquisition, although underlying sales decreased due to soft DIY demand in North America [12][66] - Performance Coatings Group sales were flat overall, with variations across divisions, but the company expects low single-digit sales growth driven by new account wins and positive price mix [22][23] Strategic Outlook - The company plans to open 80 to 100 net new stores in the US and Canada in 2026, continuing to invest in sales representatives and digital capabilities [28][29] - Sherwin-Williams is focused on maintaining a disciplined approach to pricing and cost control while pursuing new business opportunities in a competitive environment [31][57] - The company anticipates a challenging demand environment persisting into 2026, with expectations for consolidated sales to increase by a low to mid-single-digit percentage [24][30]

Core Insights - Sherwin-Williams Company (SHW) reported fourth-quarter 2025 earnings of $1.92 per share, a 1.1% increase from $1.90 in the same quarter last year, with adjusted earnings of $2.23 per share surpassing the Zacks Consensus Estimate of $2.12 [1][8] - The company achieved revenues of $5,595.9 million, reflecting a year-over-year increase of 5.6%, and exceeded the Zacks Consensus Estimate of $5,546.2 million [1][8] Segment Performance - The Paint Stores Group segment recorded net sales of $3,127.1 million, a 2.7% increase year over year, but fell short of the Zacks Consensus Estimate of $3,151 million, with growth driven by higher selling prices [2] - The Consumer Brands Group saw net sales rise by 24.5% year over year to $824.7 million, surpassing the consensus estimate of $791 million, attributed to the acquisition of Suvinil and favorable foreign currency translation, although profits decreased due to restructuring costs [3] - The Performance Coatings Group's net sales increased by 3.3% year over year to approximately $1,642.1 million, beating the consensus estimate of $1,629 million, driven by acquisitions and favorable currency translation [4] Financial Overview - For the year, the company generated $3.45 billion in net operating cash and returned $2.45 billion to shareholders through dividends and stock repurchases of 4.8 million shares, with authorization to buy back 29.6 million shares of common stock as of December 31, 2025 [5] - For the first quarter and full-year 2026, the company anticipates net sales growth in the mid-single-digit percentage range, with projected net income per share between $10.7 and $11.1, and adjusted net income per share forecasted between $11.5 and $11.9 [6] Stock Performance - Sherwin-Williams shares have declined by 4.4% over the past year, compared to a 1.5% decline in the industry [7]

Financial Data and Key Metrics Changes - Consolidated sales in Q4 increased by a mid-single-digit percentage, with a low single-digit contribution from the Suvinil acquisition [4] - Adjusted diluted net income per share in the quarter increased by 6.7% [4] - Adjusted EBITDA grew 13.4% and expanded 100 basis points to 17.7% as a percentage of sales [4] - Free cash flow conversion in the quarter was 90.1% [4] - For the full year, net operating cash grew 9.4% to $3.5 billion, or 14.6% of sales [10] - Free cash flow for the year was $2.7 billion, with a conversion rate of 59% [11] Business Segment Data and Key Metrics Changes - Paint Stores Group sales increased, led by high single-digit growth in Protective and Marine, while Residential Repaint growth was slightly below the mid-single-digit range [6] - Consumer Brands Group sales exceeded expectations, driven by the Suvinil acquisition, but underlying sales were essentially flat [6][14] - Performance Coatings Group sales were at the high end of expectations, with adjusted segment margin improving 150 basis points to 19% [7] - Adjusted segment margin decreased in Consumer Brands due to the Suvinil impact and lower production to match softer demand [14] Market Data and Key Metrics Changes - The demand environment remains challenging, with existing home sales expected to be down at least in the mid-single-digit range [19] - The Architectural Billings Index has shown negative readings, but multifamily starts were positive for most of the second half of 2025 [20] - The U.S. manufacturing PMI ended at its lowest point in December, indicating a contracting environment [22] Company Strategy and Development Direction - The company focuses on creating opportunities and controlling costs while maintaining a disciplined approach to pricing and market share [10][30] - Investments in new stores and sales territories are planned, with expectations to open 80-100 net new stores in the U.S. and Canada in 2026 [27] - The company aims to continue delivering innovative solutions and outperforming the market despite challenging conditions [30] Management's Comments on Operating Environment and Future Outlook - Management anticipates a continued softer demand environment into 2026, with cautious consumer sentiment providing little support for recovery [18] - The company remains committed to its strategy of focusing on volume and share gains, even in a competitive environment [68] - Management expressed confidence in the Residential Repaint segment as a significant growth opportunity despite current market challenges [76] Other Important Information - The company reinstated its 401(k) matching program for eligible U.S. employees, effective February 1 [16] - The company plans to recommend an annual dividend increase of 1.3% to $3.20 per share, marking the 48th consecutive year of dividend increases [28] Q&A Session Summary Question: Can you provide more color on the Performance Coatings segment's margin outperformance? - Management attributed the margin outperformance to discipline, new business wins, and simplification efforts [33][34] Question: What is the SG&A outlook for 2026? - SG&A is expected to grow by a low single-digit percentage, factoring in the reinstatement of the 401(k) match and cost controls [39][40] Question: How do you view the impact of severe winter weather on current demand trends? - Management noted that weather impacts are typical and do not raise concerns for the current quarter [60][61] Question: Can you discuss the performance of packaging coatings and the potential for recovery? - Management indicated that while they have recovered from temporary share loss, there is still significant potential for growth, especially in regions like Asia and LATAM [64][66] Question: What are the expectations for the Consumer Brands segment moving forward? - Management expects challenges in the North American DIY market but remains optimistic about the Suvinil acquisition and its integration [80][82]

The Sherwin-Williams Company (NYSE:SHW) Q4 2025 Earnings call January 29, 2026 10:00 AM ET Company ParticipantsBen Meisenzahl - VP of Investor RelationsChris Parkinson - Managing DirectorDavid Begleiter - DirectorGarik Shmois - Managing DirectorGreg Melich - Senior Managing DirectorHeidi G. Petz - Chair, President, and CEOJim Jaye - Head of Investor Relations and CommunicationsJohn Roberts - Managing DirectorJosh Spector - Executive Director of Chemicals Equity ResearchKevin McCarthy - PartnerVincent Andrew ...

Core Insights - Sherwin-Williams reported $5.6 billion in revenue for Q4 2025, a year-over-year increase of 5.6% and a surprise of +0.9% over the Zacks Consensus Estimate of $5.55 billion [1] - The EPS for the quarter was $2.23, compared to $2.09 a year ago, representing a surprise of +5.1% over the consensus estimate of $2.12 [1] Financial Performance Metrics - The stock has returned +7.9% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] - Sherwin-Williams holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3] Segment Performance - Net New Stores in the Paint Stores Group totaled 19, below the estimated average of 33 [4] - Total stores in the Paint Stores Group were 4,853, slightly below the average estimate of 4,867 [4] - Net Sales for the Paint Stores Group were $3.13 billion, compared to the estimated $3.15 billion, reflecting a +2.7% change year-over-year [4] - Net Sales for the Consumer Brands Group reached $824.7 million, exceeding the estimated $790.88 million, with a +24.5% change year-over-year [4] - Net Sales for the Performance Coatings Group were $1.64 billion, slightly above the estimated $1.63 billion, representing a +3.3% change year-over-year [4] - Administrative net sales were reported at $2 million, significantly higher than the average estimate of $1.04 million, marking an +81.8% year-over-year change [4] Profitability Metrics - Segment Profit for the Paint Stores Group was $649.5 million, surpassing the average estimate of $633.56 million [4] - Adjusted Segment Profit for the Performance Coatings Group was $312.8 million, exceeding the estimated $270.54 million [4] - Adjusted Segment Profit for the Consumer Brands Group was $87.3 million, slightly below the average estimate of $89.54 million [4]