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# Sherwin-Williams Sales Climb 7.9% To $6.86 Billion, But Net Income Slips 1.5% On Costs
- URL: https://www.bullished.co/sherwin-williams-sales-climb-7-9-to-6-86-billion-but-net-income-slips-1-5-on-costs-41031cd4/
- Published: 2026-10-27T11:16:58.000Z
- Updated: 2026-10-27T11:16:58.000Z
- Description: The paint maker narrowed its 2026 adjusted earnings outlook, and its CEO expects muted demand into 2027.
- Author: Matteo Parrino
- Tags: Earnings, SHW, Industry: Materials

Sherwin-Williams, the paint and coatings maker, said third-quarter [net sales rose 7.9% to $6.86 billion](https://www.sec.gov/Archives/edgar/data/0000089800/000008980026000054/shwearningsrelease3q2026.htm?ref=bullished.co) while net income fell 1.5% to $821.0 million, as higher raw material and supply chain costs squeezed margins. CEO Heidi G. Petz said customer sentiment points to muted demand through the rest of the year and into 2027.

## Sales up everywhere, margin down

Sales grew in all three segments. Net income was [12.0% of sales](https://www.prnewswire.com/news-releases/the-sherwin-williams-company-reports-2026-third-quarter-financial-results-302920605.html?ref=bullished.co). Diluted earnings per share edged up 0.9% to $3.38, and the adjusted figure rose 1.1% to $3.63 from $3.59 a year earlier.

Gross profit fell to 47.8% of sales from 49.2%. Petz pointed to higher raw material and supply chain costs and to mix, including dilution from the Suvinil acquisition and faster growth in lower-margin segments. Excluding Suvinil, she said, year-to-date gross margin is flat from last year.

Selling and administrative expenses slipped to 30.2% of sales from 30.7%. Adjusted EBITDA, an earnings measure that strips out interest, taxes, depreciation, amortization and restructuring costs, [rose 3.3%](https://www.prnewswire.com/news-releases/the-sherwin-williams-company-reports-2026-third-quarter-financial-results-302920605.html?ref=bullished.co) to $1.40 billion.

## Paint stores grow; consumer brands lose margin

Sherwin-Williams develops, makes and sells paint and coatings to professional, industrial, commercial and retail customers. Its Paint Stores Group, which runs 4,853 stores, posted sales of $4.02 billion, up 4.7%, with same-store sales up 3.9%. Segment profit rose 2.1%.

The Consumer Brands Group's sales rose 21.7% to $937.4 million, helped by the October 2025 Suvinil acquisition, favorable currency translation and a better mix, partly offset by soft demand in North America. Segment profit fell 7.1% to $146.2 million, and its margin dropped to 15.6% from 20.4%.

Performance Coatings sales rose 8.8% to $1.90 billion and segment profit rose 6.2%.

## Narrower outlook, cautious tone

The company narrowed its 2026 adjusted earnings outlook to $11.85 to $12.15 per share, against $11.43 in 2025\. Its standard-accounting range is $10.92 to $11.22, versus $10.26 last year.

It expects fourth-quarter net sales to rise by a mid-single-digit percentage and kept its full-year sales view at up mid to high single digits. "Customer sentiment and the leading indicators we track point to muted demand over the remainder of the year and into 2027," Petz said.

The company returned $749.0 million to shareholders in the quarter through dividends and buybacks, and 22.5 million shares remained authorized for repurchase at September 30\. Management hosted a conference call at 10:00 a.m. EDT Tuesday.

Petz said she remains "highly confident" in the company's ability to deliver through current conditions.

### Sources

- [8-K Filing — SHERWIN WILLIAMS CO (SHW)](https://www.sec.gov/Archives/edgar/data/0000089800/000008980026000054/shw-20261027.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit shwearningsrelease3q2026.htm — SHERWIN WILLIAMS CO 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000089800/000008980026000054/shwearningsrelease3q2026.htm?ref=bullished.co) — SEC EDGAR
- [The Sherwin-Williams Company Reports 2026 Third Quarter Financial Results](https://www.prnewswire.com/news-releases/the-sherwin-williams-company-reports-2026-third-quarter-financial-results-302920605.html?ref=bullished.co) — prnewswire.com