The 2020 Mid-Year Economic Update_long

Sherwin-Williams Second Quarter Sales Up 16%

Second quarter profit decreased 15.6 percent.

The Sherwin-Williams Company (NYSE: SHW), Cleveland, OH, reported sales for the second quarter ending June 30 of $3.7 billion, up 16 percent from the same period in 2016. Profit decreased 15.6 percent to $319.1 million.

Sales for the first six months increased 12.1 percent to $6.5 billion, a record for the company. Profit increased 3 percent to $558.3 billion.

Sales in the Americas group increased 8.7 percent to $2.4 billion in the quarter and increased 10.2 percent to $4.4 billion in the first six months due primarily to higher architectural paint sales volume across most end market segments, the impact of the change in revenue classification and selling price increases.

Sales of the consumer group increased 16 percent to $536.4 million in the quarter and increased 4 percent to $859.8 million in the first six months due primarily to the inclusion of Valspar sales for the month of June, partially offset by lower volume sales to most of the Group's retail and commercial customers.

On June 1, the company completed the acquisition of The Valspar Corporation for $8.9 billion.


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