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Mar 31, 2021
Sherwin-Williams Q1 2021 Earnings Report
Sherwin-Williams reported strong first-quarter results driven by sales growth and margin expansion.
Key Takeaways
Sherwin-Williams reported a 12.3% increase in consolidated net sales to $4.66 billion. Adjusted diluted net income per share increased by 51.5% to $2.06, and adjusted EBITDA increased to $848.7 million. The company saw strong architectural paint demand and improving industrial end markets.
Consolidated net sales increased by 12.3% to $4.66 billion.
Net sales from U.S. and Canada stores open more than twelve months increased by 8.2%.
Adjusted diluted net income per share grew by 51.5% to $2.06.
Adjusted EBITDA increased to $848.7 million, representing 18.2% of sales.
Sherwin-Williams
Sherwin-Williams
Sherwin-Williams Revenue by Segment
Revenue by Segment
Paint Stores Group Revenue
CapyFin.comConsumer Brands Group Revenue
CapyFin.comPerformance Coatings Group Revenue
CapyFin.com Forward Guidance
The company anticipates FY21 diluted net income per share in the range of $7.66 to $7.93 per share and expects net sales to be up mid-to-high single digit %.
Positive Outlook
- Net sales are expected to be up mid-to-high teens % for the second quarter of 2021.
- Company is very encouraged with our strong start to the year
- Continuing strength in the demand environment
- Businesses are extremely well positioned
- Confident in long-term ability to grow faster than the market
Challenges Ahead
- Full year adjusted earnings guidance remains unchanged
- Near-term uncertainty of raw material availability
- Cost inflation
- Loss of $0.34 per share from the divestiture
- Acquisition-related amortization expense of $0.80 per share
Revenue & Expenses
Visualization of income flow from segment revenue to net income