Sherwin Williams Co (SHW) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

EXHIBIT 99

NEWS:

The Sherwin-Williams Company ● 101 West Prospect Avenue ●

Cleveland, Ohio 44115 ● (216) 566-2140

The Sherwin-Williams Company Reports 2015 Year-end Financial Results

CLEVELAND, OHIO, January 28, 2016 - The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the year and fourth quarter ended December 31, 2015. Compared to the same periods in 2014, consolidated net sales increased $209.8 million, or 1.9%, to $11.34 billion in the year and increased $35.2 million, or 1.4%, to $2.60 billion in the quarter due primarily to higher paint sales volume in our Paint Stores and Consumer Groups. Unfavorable currency translation rate changes decreased consolidated net sales 3.3% in the year and 3.6% in the quarter.

Diluted net income per common share in the year increased to $11.16 per share from $8.78 per share in 2014 and increased in the quarter to $2.12 per share compared to $1.37 per share a year ago. The increases in full year and fourth quarter diluted net income per common share were due primarily to improved operating results of the Paint Stores and Consumer Groups. Unfavorable currency translation rate changes decreased diluted net income per common share by $.26 per share for the year and $.06 per share in the quarter.

Net sales in the Paint Stores Group increased 5.2% to $7.21 billion in the year and increased 5.9% to $1.68 billion in the quarter due primarily to higher architectural paint sales volume across all end market segments. Net sales from stores open for more than twelve calendar months increased 4.2% in the year and 5.1% in the quarter over last year’s comparable periods. Paint Stores Group segment profit increased to $1.43 billion in the year from $1.20 billion last year and increased to $316.1 million in the quarter from $247.5 million last year due primarily to higher paint sales volume. Segment profit as a percent to net sales increased in the year to 19.9% from 17.5% in 2014 and increased in the quarter to 18.9% from 15.6% last year.

Net sales of the Consumer Group increased 11.1% to $1.58 billion in the year and increased 13.6% to $314.6 million in the quarter due primarily to sales of HGTV HOME^® by Sherwin-Williams paint to Lowe’s stores. Segment profit increased to $308.8 million in the year from $252.9 million last year and increased $20.6 million to $50.9 million from $30.3 million last year due primarily to improved operating efficiencies. As a percent to net external sales, segment profit increased in the year to 19.6% from 17.8% in 2014 and increased in the quarter to 16.2% from 11.0% last year.

The Global Finishes Group’s net sales stated in U.S. dollars decreased 7.9% to $1.92 billion in the year and decreased 9.5% to $454.8 million in the quarter. Unfavorable currency translation rate changes decreased net sales 7.5% and 7.1% in the year and quarter, respectively. Stated in U.S. dollars, segment profit in the year was essentially flat at $201.9 million compared to $201.1 million last year due primarily to decreasing raw material costs and good cost control partially offset by unfavorable currency translation rate changes and a gain on the early termination of a customer agreement in the third quarter 2014. Segment profit increased in the quarter to $50.6 million from $39.0 million last year due primarily to decreasing raw material costs and good cost control partially offset by unfavorable currency translation rate changes. Unfavorable foreign currency translation rate changes decreased segment profit $26.5 million in the year and $4.9 million in the quarter. As a percent to net external sales, segment profit was 10.5% in twelve months 2015 compared to 9.7% in 2014 and 11.1% in the quarter versus 7.8% last year.

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