Sherwin-Williams' (SHW) strong Q2 earnings performance, upbeat earnings guidance and the strength in the Paint Stores Group unit instill optimism about the stock.
Sherwin-Williams' (SHW) strong Q2 earnings performance, upbeat earnings guidance and the strength in the Paint Stores Group unit instill optimism about the stock.
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SHW released Q2 results with an EPS beat, driven by growth in Paint Stores Group and Performance Coatings Group. Positive macroeconomic trends, market share gains, and cost dynamics support a buy rating for SHW. Expect SHW to beat FY24 EPS guidance, potentially reaching $12.20, driving positive sentiment and supporting the current valuation.
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The Sherwin-Williams Company (NYSE:SHW ) Q2 2024 Earnings Conference Call July 23, 2024 11:00 AM ET Company Participants Heidi Petz - President and CEO Allen Mistysyn - CFO Jim Jaye - SVP of Investor Relations & Corporate Communications Conference Call Participants Vincent Andrews - Morgan Stanley Chris Parkinson - Wolfe Research Arun Viswanathan - RBC Capital Markets Jeff Zekauskas - JPMorgan John McNulty - BMO Capital Markets Michael Sison - Wells Fargo Adam Baumgarten - Zelman Michael Leithead - Barclays Patrick Cunningham - Citi Kevin McCarthy - Vertical Research Partners Gregory Melich - Evercore ISI Ghansham Panjabi - Baird Steve Byrne - Bank of America Josh Spector - UBS Michael Harrison - Seaport Research Partners Duffy Fischer - Goldman Sachs David Begleiter - Deutsche Bank Aleksey Yefremov - KeyBanc Capital Markets John Roberts - Mizuho Chuck Cerankosky - Northcoast Research Garik Shmois - Loop Capital Eric Bosshard - Cleveland Research Company Aron Ceccarelli - Berenberg Laurence Alexander - Jefferies Operator Good morning. Thank you for joining the Sherwin-Williams Company's Review of Q2 2024 Results and our Outlook for the Q3 and Full-Year of 2024.
Sherwin-Williams beat earnings expectations thanks to strong pricing power in its paint stores unit. It also boosted its full-year profit guidance.
Sherwin-Williams (SHW) shares rose Tuesday after the paint maker posted better-than-forecast second-quarter adjusted profit on higher residential sales. The paint maker also raised its 2024 profit outlook.
While the top- and bottom-line numbers for Sherwin-Williams (SHW) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Consolidated net sales of Sherwin-Williams (SHW) increase primarily owing to higher sales volumes in the Paint Stores and Performance Coatings Groups in Q2.
Sherwin-Williams (SHW) came out with quarterly earnings of $3.70 per share, beating the Zacks Consensus Estimate of $3.51 per share. This compares to earnings of $3.29 per share a year ago.
Sherwin-Williams Co.'s stock SHW, +0.16% jumped 6% premarket Tuesday, after the paint company's better-than-expected second-quarter profit offset a sales miss. Cleveland, Ohio-based Sherwin-Williams posted net income of $889.9 million, or $3.50 a share, for the quarter, up from $793.7 million, or $3.07 a share, in the year-earlier period.