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Sherwin Williams Co (SHW) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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 Third Quarter Financial Results

 

   

Consolidated net sales increased 5.2% in the quarter to $5.12 billion

 

   

Net sales from stores in U.S. and Canada open more than twelve calendar months increased 3.1% in the quarter

 

   

Diluted net income per share increased to $7.66 per share in the quarter compared to $6.16 per share in the third quarter 2019

 

   

Excluding the impact of acquisition-related amortization expense, diluted net income per share increased to $8.29 per share in the quarter versus $6.65 per share in the third quarter 2019, excluding the impact of acquisition-related costs and other adjustments

 

   

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased in the quarter to $1.11 billion, or 21.6% of sales

 

   

Net operating cash increased 54% year-to-date to $2.56 billion, or 18.5% of sales

 

   

Increasing FY20 diluted net income per share guidance to a range of $21.49 to $21.79 per share, including acquisition-related amortization expense of $2.51 per share. Our most recent FY20 guidance was a range of $20.96 to $21.46 per share, including acquisition-related amortization expense of $2.54 per share.

CLEVELAND, October 27, 2020 - The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the third quarter ended September 30, 2020. Compared to the same period in 2019, consolidated net sales increased $254.5 million, or 5.2%, to $5.12 billion in the quarter and increased $86.5 million, or 0.6%, to $13.87 billion in the first nine months. The increase in the quarter was due primarily to higher sales to most of the Consumer Brands Group’s retail customers in all regions, continued strong sales in residential repaint and DIY in North American stores in The Americas Group, and a return to growth in the Performance Coatings Group. The estimated impact from

COVID-19 on consolidated net sales during the quarter was not material, but was a decrease of approximately 3% for the first nine months. Currency translation rate changes decreased consolidated net sales by 1.3% in the first nine months. Diluted net income per share increased to $7.66 per share in the third quarter compared to $6.16 per share in the third quarter of 2019. Third quarter 2020 included a charge of $.63 per share for acquisition-related amortization expense. Third quarter 2019 included charges of $.63 per share for acquisition-related amortization expense and $.14 per share for integration costs, partially offset by a benefit from the resolution of the California litigation of $.28 per share. Diluted net income per share increased to $17.60 per share in the first nine months compared to $13.82 per share in the same period in 2019. The first nine months of 2020 included a charge of $1.87 per share for acquisition-related amortization expense. The first nine months of 2019 included charges of $1.90 per share for acquisition-related amortization expense, $.33 per share for integration costs, $.79 per share for a tax credit investment loss and $.27 per share for pension settlement expense, partially offset by a benefit from the resolution of the California litigation of $.28 per share.

Net sales in The Americas Group increased 2.8% to $2.98 billion in the quarter and were flat at $7.81 billion in the first nine months. The increase in the quarter was due primarily to higher residential repaint, DIY and new residential paint sales in the U.S. and Canada, partially offset by the impacts of COVID-19 on demand in some end market segments served. Flat sales in the first nine months were due primarily to the impacts of COVID-19 on demand in


The following information was filed by Sherwin Williams Co (SHW) on Tuesday, October 27, 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 (Unaudited)
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Statements Of Consolidated Comprehensive Income (Unaudited)
Statements Of Consolidated Comprehensive Income (Unaudited) (Parenthetical)
Statements Of Consolidated Income (Unaudited)
Statements Of Consolidated??Shareholders' Equity (Parenthetical)
Statements Of Consolidated??Shareholders' Equity (Unaudited)
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 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)
Ticker: SHW
CIK: 89800
Form Type: 10-Q Quarterly Report
Accession Number: 0000089800-20-000024
Submitted to the SEC: Tue Oct 27 2020 2:25:47 PM EST
Accepted by the SEC: Tue Oct 27 2020
Period: Wednesday, September 30, 2020
Industry: Retail Building Materials Hardware Garden Supply

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