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Sherwin Williams

Sherwin Williams (SHW) Q1 2026 Earnings

Reported Apr 28, 2026 at 7:05 AM ET · SEC Source

Q1 26 EPS

$2.35

BEAT +3.56%

Est. $2.27

Q1 26 Revenue

$5.67B

BEAT +1.91%

Est. $5.56B

vs S&P Since Q1 26

-2.4%

TRAILING MARKET

SHW +6.2% vs S&P +8.6%

Market Reaction

Did SHW Beat Earnings? Q1 2026 Results

Sherwin-Williams opened 2026 on solid footing, posting first-quarter earnings of $2.35 per share and beating the $2.28 consensus estimate by 3.07%, while revenue climbed 6.8% year-over-year to $5.67 billion, helped in large part by the October 2025 a… Read more Sherwin-Williams opened 2026 on solid footing, posting first-quarter earnings of $2.35 per share and beating the $2.28 consensus estimate by 3.07%, while revenue climbed 6.8% year-over-year to $5.67 billion, helped in large part by the October 2025 acquisition of Suvinil and favorable foreign currency translation. The paint and coatings giant delivered results that exceeded its own guidance across all three reportable segments, even as CEO Heidi G. Petz acknowledged "heightened global uncertainty and continued demand softness in most end markets." Gross margin expanded 90 basis points to 49.1%, reflecting moderating raw material costs, though rising SG&A expenses and higher interest costs tied to acquisition financing partially offset those gains. Looking ahead, management reaffirmed full-year 2026 adjusted EPS guidance of $11.50 to $11.90, while flagging potential inflation headwinds from tariffs on raw materials and logistics; the company is responding with targeted price increases and accelerated cost reductions, with a guidance update expected alongside second-quarter results in July.

Key Takeaways

  • • Suvinil acquisition contributed to Consumer Brands Group revenue growth
  • • Favorable foreign currency translation of 1.7% consolidated, 2.4% in CBG, 4.1% in PCG
  • • Selling price increases contributed low-single digit percentage to PSG net sales
  • • Low-single digit percentage sales volume growth in PSG and PCG
  • • Moderating raw material costs supported gross margin expansion of 90 basis points to 49.1%
  • • Protective and marine end market increased by double-digit percentage in PSG
  • • Automotive Refinish increased by double-digit percentage in PCG
  • • General Industrial and Packaging increased by high-single digit percentages in PCG
  • • Global supply chain efficiencies and foreign currency transaction gains benefited CBG
24/7 Wall St

SHW YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

SHW Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Sherwin-Williams delivered strong sales in a quarter characterized by heightened global uncertainty and continued demand softness in most end markets. Our growth investments and relentless focus on new accounts and share of wallet continued to yield results, as sales exceeded guidance on a consolidated basis and in all three reportable segments. Gross margin expanded, inclusive of the dilutive impact of the Suvinil acquisition. Against a challenging prior year comparison, SG&A increased by a mid-single digit percentage, excluding the expected headwinds from Suvinil, non-annualized operating costs and depreciation related to our new buildings and foreign currency translation. Our expectation of a low-single digit percentage increase in SG&A for the full year remains unchanged. Net income, adjusted earnings per share and EBITDA all increased over the prior year quarter. Our global team continues to execute our strategy, delivering reliability and consistency for our customers while focusing on what we can control.”

— Heidi G. Petz, Q1 2026 Earnings Press Release

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