The company reported a profit of $821 million, or $3.38 per share, a marginal decline from the $833.1 million recorded during the same period last year. Excluding one-time items, earnings reached $3.63 a share, falling short of the $3.69 consensus anticipated by FactSet analysts. Chief Executive Heidi Petz noted that while the firm gained market share, disciplined pricing moves were not enough to fully offset the weight of rising raw-material expenses and broader market pressures.
In section Market Quotes
Sherwin-Williams profit dips as demand cooling bites into margins
Shares of Sherwin-Williams tumbled 5.7% in premarket trading Tuesday after the paint manufacturer posted third-quarter earnings that missed Wall Street expectations. While revenue climbed to $6.86 billion, the company struggled to shield its bottom line from persistent supply-chain costs and a cooling appetite for home improvement products.
Performance across business segments remained mixed. The consumer brands group saw a 22% jump in sales to $937.4 million, while the company’s retail stores reported a 4.7% increase to $4.02 billion, bolstered largely by higher prices. Following these results, management tightened its full-year earnings forecast to a range of $10.92 to $11.22 per share. Investors remain cautious as this outlook sits below analyst projections of $11.39, signaling that the company expects the difficult demand environment to persist through the final months of the year.
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