Sherwin-Williams Company (The): Mixed — EPS $3.63, Revenue $6.86B
Mixed ResultQ3 2026 · Pre-market
Did Sherwin-Williams Company (The) (SHW) beat earnings today?
It was a mixed report for Q3 2026 — Sherwin-Williams Company (The) (SHW) beat on EPS but missed on revenue.
Earnings Per Share-1.63% surprise
$3.63Actual
Expected: $3.69
vs. year ago +1.1%
Total Revenue+1.18% surprise
$6.86BActual
Expected: $6.78B
vs. year ago +7.9%
Released Oct 27 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Net sales | $6.86B | $6.36B | +7.9% |
| Revenue detail — reported lines | |||
| └─Paint Stores Group | $4.02B | $3.84B | +4.7% |
| └─Consumer Brands Group | $937.40M | $770.10M | +21.7% |
| └─Performance Coatings Group | $1.90B | $1.75B | +8.8% |
| Basic EPS | $3.41 | $3.38 | +0.9% |
| Diluted EPS | $3.38 | $3.35 | +0.9% |
| Adjusted diluted EPS | $3.63 | $3.59 | +1.1% |
| Net income | $821.00M | $833.10M | -1.5% |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | Full Year 2026 Outlook |
|---|---|---|
| Net sales | Up mid-single digit % | Up mid to high-single digit % |
| Diluted net income per share | — | $10.92-$11.22 |
| Adjusted diluted net income per share | — | $11.85-$12.15 |
Business Highlights
- ➤Continued to win new customers and increase share-of-wallet.
- ➤Completed the Suvinil acquisition in October 2025.
- ➤Paint Stores Group added 12 net new stores during the quarter.
- ➤Paint Stores Group operated 4,853 stores at September 30, 2026.
- ➤Consumer Brands Group added 2 net new stores during the quarter.
- ➤Consumer Brands Group operated 310 stores at September 30, 2026.
- ➤Performance Coatings Group served construction, industrial, packaging and transportation markets in more than 120 countries.
- ➤Returned $749.0M to shareholders through dividends and share repurchases.
- ➤Retained authorization to repurchase 22.5M shares through open-market purchases.
Management Commentary
Heidi G. Petz, Chair, President and Chief Executive Officer
“Sherwin-Williams third quarter performance demonstrated the resilience of our Company and the strength of our strategy in a challenging demand environment. Despite muted underlying market volumes, we continued to win new customers, increase share-of-wallet and deliver sales growth across all three reportable segments, at or above our guidance, supported by the differentiated value and productivity our solutions deliver to customers. At the same time, we took disciplined pricing and cost actions to address inflationary pressures, thoughtfully timed with our customers in mind,”
Heidi G. Petz, Chair, President and Chief Executive Officer
“Gross margin was primarily impacted in the quarter by higher raw material and supply chain related costs and by mix, including dilution from Suvinil and higher growth in lower margin reportable segments. Excluding the dilutive impact of the Suvinil acquisition, our year-to-date gross margin is flat compared to the prior year. SG&A as a percent of sales decreased in the quarter, as we continue to identify and implement efficiencies throughout our Company. Adjusted EBITDA and adjusted diluted earnings per share both grew over last year's third quarter levels. We returned $749.0 million to shareholders in the quarter through dividends and share repurchases. Our team remains focused on serving our customers and controlling what we can control to continue top and bottom-line growth.”
Heidi G. Petz, Chair, President and Chief Executive Officer
“Customer sentiment and the leading indicators we track point to muted demand over the remainder of the year and into 2027. As we navigate this environment, our focus remains clear: win in the marketplace, serve our customers, offset inflation, reduce costs and continue to deliver profitable growth and shareholder value,”
Heidi G. Petz, Chair, President and Chief Executive Officer
“Against this backdrop, we expect fourth quarter 2026 consolidated Net sales to increase by a mid-single digit percentage compared to the fourth quarter of 2025, resulting in us maintaining our full year 2026 sales guidance where consolidated Net sales are expected to be up a mid to high-single digit percentage compared to full year 2025. Diluted net income per share is expected to be in the range of $10.92 to $11.22 per share, including acquisition-related amortization expense of $0.82 per share and severance and other restructuring expenses of $0.11 per share, compared to $10.26 per share in 2025. Full year 2026 adjusted diluted net income per share is expected to be in the range of $11.85 to $12.15 per share compared to $11.43 per share in 2025. We remain highly confident in our ability to deliver through current conditions while building an even stronger Sherwin-Williams for the future.”