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Sherwin Williams Co (SHW) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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SHW Quarterly Reports

Sherwin Williams Co

CIK: 89800 Ticker: SHW

Exhibit 99

 

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

The Sherwin-Williams Company Reports 2020 First Quarter Financial Results

 

   

Consolidated net sales increased 2.6% in the quarter to $4.15 billion

 

   

Net sales from stores in U.S. and Canada open more than twelve calendar months increased 7.4% in the quarter

 

   

Diluted net income per share increased to $3.46 per share in the quarter compared to $2.62 per share in the first quarter 2019

 

   

Excluding the impact of acquisition-related amortization expense, diluted net income per share increased to $4.08 per share in the quarter versus $3.60 per share in the first quarter 2019, excluding the impact of acquisition-related costs and the pension plan settlement expense

 

   

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased 8.3% in the quarter to $623.1 million, or 15.0% of sales

 

   

Revising FY20 diluted net income per share guidance to a range of $16.46 to $18.46 per share, including acquisition-related amortization expense of $2.54 per share, due to COVID-19 pandemic. Prior FY20 guidance was $19.91 to $20.71 per share, including acquisition-related costs of $2.79 per share

CLEVELAND, April 29, 2020 - The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the first quarter ended March 31, 2020. Compared to the same period in 2019, consolidated net sales increased $105.8 million, or 2.6%, to $4.15 billion in three months. The increase in the quarter was due primarily to higher architectural paint sales volume in North American stores and increased sales in the packaging and coil divisions within our Performance Coatings Group across all regions, partially offset by impacts of

COVID-19, continued demand softness in some end markets outside the U.S. and unfavorable currency translation rate changes. The estimated impact from COVID-19 on consolidated net sales during the quarter was approximately 1.5%. Currency translation rate changes decreased consolidated net sales by 1.4% in the first quarter. Diluted net income per share increased to $3.46 per share in the first quarter compared to $2.62 per share in the same period in 2019. First quarter 2020 included charges for acquisition-related amortization of $.62 per share. Currency translation rate changes decreased diluted net income per common share in the first quarter 2020 by $.05 per share. First quarter 2019 included charges of $.63 per share for acquisition-related amortization expense, $.08 per share for integration costs and $.27 per share for pension settlement expense.

Net sales in The Americas Group increased 7.0% to $2.31 billion in the quarter due primarily to higher architectural paint sales across all end markets in North American stores, partially offset by unfavorable currency translation rate changes. Currency translation rate changes decreased Group net sales by 1.1% in the first quarter. Net sales from


The following information was filed by Sherwin Williams Co (SHW) on Wednesday, April 29, 2020 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

Cover Page
Condensed Statements Of Consolidated Cash Flows
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Comprehensive Income (Parenthetical)
Statements Of Consolidated Income
Statements Of Consolidated Shareholders' Equity
Statements Of Consolidated Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss (Income)
Accumulated Other Comprehensive Loss (Income) (Details)
Accumulated Other Comprehensive Loss (Income) (Tables)
Basis Of Presentation
Basis Of Presentation (Policies)
Debt
Debt (Details)
Derivatives And Hedging
Derivatives And Hedging (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill, Intangible And Long-Lived Assets
Goodwill, Intangible And Long-Lived Assets (Details)
Goodwill, Intangible And Long-Lived Assets (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
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 (Income) Expense - Net (Details)
Other - Other General Expense - Net (Details)
Other Long-Term Liabilities
Other Long-Term Liabilities (Details)
Pension, Health Care And Postretirement Benefits Other Than Pensions
Pension, Health Care And Postretirement Benefits Other Than Pensions (Details)
Pension, Health Care And Postretirement Benefits Other Than Pensions (Tables)
Recently Issued Accounting Pronouncements
Reportable Segment Information
Reportable Segment Information (Tables)
Reportable Segment Information - Narrative (Details)
Reportable Segment Information - Reportable Segment Information (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Shareholders' Equity
Shareholders' Equity (Details)

Material Contracts, Statements, Certifications & more

Sherwin Williams Co provided additional information to their SEC Filing as exhibits

Ticker: SHW
CIK: 89800
Form Type: 10-Q Quarterly Report
Accession Number: 0000089800-20-000009
Submitted to the SEC: Wed Apr 29 2020 3:31:42 PM EST
Accepted by the SEC: Wed Apr 29 2020
Period: Tuesday, March 31, 2020
Industry: Retail Building Materials Hardware Garden Supply

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