Sherwin-Williams Raises Annual Profit Forecast Following Strong Q3 Results

Price hikes offset lower sales volume as Sherwin-Williams also reports a Q3 net profit of $761.5 million, beating Wall Street expectations, and predicts a full-year adjusted income of $10.10 to $10.30 per share.

• Sherwin-Williams Co. (SHW) raised its annual profit forecast due to a stronger than expected Q3 2023, which saw a net profit of $761.5 million, beating Wall Street expectations.
• The company's upscaled predictions come amid price hikes that have helped curtail the impact of lower sales volumes across its businesses.
• Despite the strong quarter, CEO John Morikis warns of continued variability and unpredictable challenges due to differing regional and market trends.
• Profit at Sherwin-Williams' Paint Stores Group unit rose 23.8% to $917.5 million, helping offset the weaker performance in its consumer brands unit.
• The company now expects full-year adjusted income to range from $10.10 to $10.30 per share, up from its previous forecast of $9.30 to $9.70 per share.

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