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Sherwin Williams Co (SHW) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Sherwin Williams Co

CIK: 89800 Ticker: SHW

EXHIBIT 99

 

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The Sherwin-Williams Company        •         101 West Prospect Avenue        •         Cleveland, Ohio 44115        •         (216) 566-2000

The Sherwin-Williams Company Reports 2019 Second Quarter Financial Results

 

   

Consolidated net sales increased 2.2% in the quarter to $4.88 billion

 

   

Net sales from stores in U.S. and Canada open more than twelve calendar months increased 4.3% in the quarter

 

   

Diluted net income per share increased to $5.03 per share in the quarter compared to $4.25 per share in the second quarter 2018

 

   

Second quarter 2019 includes charges for acquisition-related costs and a tax credit investment loss of $.75 and $.79 per share, respectively; second quarter 2018 included charges for acquisition-related costs and environmental expense provisions of $1.23 and $.25 per share, respectively

 

   

Excluding acquisition-related costs and other non-operating expenses, diluted net income per share increased to $6.57 per share in the quarter versus $5.73 per share in the second quarter 2018 on a comparable basis

 

   

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased 8.5% in the quarter to $921.5 million, or 18.9% of sales

 

   

Reaffirming FY19 adjusted EPS guidance of $20.40 to $21.40 per share, excluding acquisition-related costs and other non-operating expenses, versus $18.53 per share on a comparable basis in FY18

CLEVELAND, OHIO, July 23, 2019 - The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the second quarter ended June 30, 2019. Compared to the same period in 2018, consolidated net sales increased $104.1 million, or 2.2%, to $4.88 billion in the quarter and increased $179.9 million, or 2.1%, to $8.92 billion in six months. The increase in the quarter was due primarily to higher paint sales volume in North American stores, a new customer program launched in 2018 and selling price increases, partially offset by demand softness in some end markets outside the U.S. and unfavorable currency translation rate changes. Currency translation rate changes decreased consolidated net sales by 1.5% in the second quarter and 1.8% in the first six months, respectively. Diluted net income per share increased to $5.03 per share in the second quarter compared to $4.25 per share in the second quarter 2018. Second quarter 2019 includes charges for acquisition-related costs and a tax credit investment loss of $.75 and $.79 per share, respectively. As previously disclosed, the tax credit investment loss relates to the Company’s investments in federal renewable energy tax credit funds through DC Solar Solutions, Inc. and certain of its affiliates. Second quarter 2018 diluted net income per share included charges for acquisition-related costs and environmental expense provisions of $1.23 and $.25 per share, respectively. Diluted net income per share increased to $7.65 per share in the first six months compared to $6.86 per share in the same period in 2018. The first six months of 2019 includes charges for acquisition-related costs of $1.46 per share, a tax credit investment loss of $.79


The following information was filed by Sherwin Williams Co (SHW) on Tuesday, July 23, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Sherwin Williams Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Statements Of Consolidated Cash Flows (Unaudited)
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Statements Of Consolidated Comprehensive Income (Unaudited)
Statements Of Consolidated Income (Unaudited)
Basis Of Presentation
Basis Of Presentation (Policies)
Debt
Debt (Tables)
Debt - Carrying Amount And Fair Value Of Debt (Details)
Debt - Narrative (Details)
Derivatives And Hedging
Derivatives And Hedging (Details)
Exit Or Disposal Activities
Exit Or Disposal Activities (Tables)
Exit Or Disposal Activities - Narrative (Details)
Exit Or Disposal Activities - Summary Of The Activity And Remaining Liabilities Associated With Qualified Exit Costs (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Health Care, Pension And Other Benefits
Health Care, Pension And Other Benefits (Tables)
Health Care, Pension And Other Benefits - Components Of Net Periodic Benefit Costs (Credits) For Domestic Defined Benefit Pension Plans, Foreign Defined Benefit Pension Plans And Postretirement Benefits Other Than Pensions (Details)
Health Care, Pension And Other Benefits - Narrative (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Additional Lease Information (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Litigation
Litigation (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
Non-Traded Investments
Non-Traded Investments (Details)
Other
Other (Tables)
Other - Narrative (Details)
Other - Other Expense (Income) - Net (Details)
Other - Other General Expense - Net (Details)
Other Long-Term Liabilities
Other Long-Term Liabilities (Details)
Product Warranties
Product Warranties (Details)
Product Warranties (Tables)
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements (Details)
Reportable Segment Information
Reportable Segment Information (Details)
Reportable Segment Information (Tables)
Reportable Segment Information - Narrative (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Narrative (Details)
Shareholders' Equity - Summary Of The Changes In The Components Of Shareholders' Equity (Details)
Ticker: SHW
CIK: 89800
Form Type: 10-Q Quarterly Report
Accession Number: 0000089800-19-000014
Submitted to the SEC: Wed Jul 24 2019 8:08:53 AM EST
Accepted by the SEC: Wed Jul 24 2019
Period: Sunday, June 30, 2019
Industry: Retail Building Materials Hardware Garden Supply

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