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Dec 31, 2022
Sherwin-Williams Q4 2022 Earnings Report
Sherwin-Williams reported strong fourth quarter results with increased sales and adjusted diluted net income per share.
Key Takeaways
Sherwin-Williams reported a 9.8% increase in consolidated net sales for the fourth quarter. Diluted net income per share was $1.48, and adjusted diluted net income per share increased by 41% to $1.89. The company also saw significant gross margin improvement and expanded adjusted operating margins across all three segments.
Consolidated net sales increased by 9.8% in the fourth quarter.
Diluted net income per share was $1.48.
Adjusted diluted net income per share increased by 41% to $1.89.
The Americas Group delivered double-digit sales growth in all customer segments.
Revenue by Segment
Forward Guidance
The company expects first quarter consolidated net sales growth to be flat to up a mid-single digit percentage compared to the first quarter of 2022. For the full year 2023, the company expects consolidated net sales to be down a mid-single digit percentage to flat compared to 2022. Full year 2023 adjusted diluted net income per share is expected to be in the range of $7.95 to $8.65 per share compared to $8.73 per share in 2022.
Positive Outlook
- Clarity of mission
- Right strategy
- Focus on solutions for our customers
- Right people
- Exposure in more resilient end markets
Challenges Ahead
- Very challenging demand environment in 2023
- Limited visibility beyond the first half of the year
- U.S. housing will be under significant pressure this year
- Slowing existing home sales and continued high inflation
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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