Last10K.com

Sherwin Williams Co (SHW) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Sherwin Williams Co

CIK: 89800 Ticker: SHW

Exhibit 99

 

LOGO

NEWS

 

The Sherwin-Williams Company

      101 W. Prospect Avenue       Cleveland, Ohio 44115       (216) 566-2000

The Sherwin-Williams Company Reports 2021 Third Quarter Financial Results

CLEVELAND, October 26, 2021—The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the third quarter ended September 30, 2021. All comparisons are to the third quarter of the prior year, unless otherwise noted.

SUMMARY

 

   

Consolidated net sales increased 0.5% in the quarter to $5.15 billion

 

   

Net sales from stores in U.S. and Canada open more than twelve calendar months decreased 2.8% in the quarter

 

   

Raw material availability issues negatively impacted quarter sales by an estimated high single digit percentage

 

   

Diluted net income per share decreased to $1.88 per share in the quarter compared to $2.55 per share in the third quarter 2020

 

   

Adjusted diluted net income per share decreased to $2.09 per share in the quarter compared to $2.76 per share in the third quarter 2020

 

   

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) decreased in the quarter to $834.2 million, or 16.2% of sales

 

   

Generated net operating cash of $2.1 billion, or 13.5% of sales, in the first nine months of the year

 

   

FY21 diluted net income per share guidance in the range of $7.16 to $7.36 per share, including a loss of $0.34 per share from the Wattyl divestiture and acquisition-related amortization expense of $0.85 per share

 

   

Reaffirming adjusted diluted net income per share guidance in the range of $8.35 to $8.55 per share

CEO REMARKS

“Demand remains strong across our pro architectural and industrial end markets; however, results in the quarter were significantly impacted by ongoing and industry-wide raw material supply chain challenges,” said Chairman, President and Chief Executive Officer, John G. Morikis. “Consolidated net sales increased less than 1%, as raw material availability negatively impacted total sales by a high single digit percentage, of which approximately 75% of the impact was in The Americas Group. The raw material availability challenges combined with higher raw material costs significantly pressured gross margins in the quarter. We continue to implement price increases to offset higher raw material costs across the business and are confident margins will recover as inflation headwinds eventually subside. Despite the near-term margin pressure, cash flow generation remained strong during the quarter, enabling us to invest in long-term strategic growth initiatives, open 19 new stores, announce two acquisitions and purchase 1.675 million shares.

“In The Americas Group, underlying demand in our professional architectural businesses remains robust. We expect delayed projects to be completed as raw material availability improves, and our team is aggressively pursuing additional business. In the Consumer Brands Group, our sales remained down double-digits, driven by difficult comparisons to the prior year, consumers returning to the workplace, raw material availability issues and the divestiture of the Wattyl business. Growth in the Pros Who Paint category in this segment was not enough to offset the lower North America DIY demand and raw material availability challenges. In the Performance Coatings Group, all businesses and regions delivered growth, most by double digit percentages.”


The following information was filed by Sherwin Williams Co (SHW) on Tuesday, October 26, 2021 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.

View differences made from one quarter to another to evaluate Sherwin Williams Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Sherwin Williams Co.

Continue

Assess how Sherwin Williams Co's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Sherwin Williams Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Legal
Other
Filter Subcategory:
All
Cash Flow
Product
Income
Dividend
Shares
Geography
Expense
Earnings
Other
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)
Acquisitions And Divestitures
Acquisitions And Divestitures (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Debt
Debt (Details)
Derivatives And Hedging
Derivatives And Hedging (Details)
Derivatives And Hedging (Tables)
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)
Non-Traded Investments (Tables)
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 And Other Postretirement Benefits
Pension And Other Postretirement Benefits (Details)
Pension And Other Postretirement Benefits (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)
Revenue - Narrative (Details)
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: 0000089800-21-000032
Submitted to the SEC: Tue Oct 26 2021 3:16:00 PM EST
Accepted by the SEC: Tue Oct 26 2021
Period: Thursday, September 30, 2021
Industry: Retail Building Materials Hardware Garden Supply

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/shw/0000089800-21-000032.htm