Jun 2026 (Q2 FY26) — Jul 28, 2026
Sherwin-Williams Q2 FY26 — Strong Execution Drives Raised Full-Year Guidance
Read the full callSherwin Williams (SHW) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Sherwin Williams earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,789 | +7.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 844 | +11.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
17 of 20 judged targets kept · 37 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted diluted EPS | $11.50 to $11.90 | Dec 2025 | adjusted diluted net income per share is now expected to be in the range of $11.80 to $12.20 a share | Revised Up |
| Annualized savings from second-quarter restructuring actions | approximately $17 million of annual savings, with about half realized over the remainder of this year | Jun 2026 | We expect these actions will result in approximately $17 million of annual savings, with about half realized over the remainder of this year. | New |
| Zero-VOC plant-based interior coating launch | launching a Zero VOC plant-based interior coating at the end of the quarter | Dec 2025 | we just launched a product, a system called the Emerald Symmetry, which is our best-performing interior product that we've ever produced | Achieved |
3 of SHERWIN WILLIAMS CO's 57 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 54 more targets are in the full ledger.
Claimed
- Consolidated sales grew by a high single-digit percentage, exceeding guidance in all three segments.
- Adjusted diluted net income per share increased approximately 10%.
- Adjusted EBITDA grew by 10.5% to $1.5 billion, with adjusted EBITDA margin expanding 60 basis points to 21.5% of sales.
- Net operating cash improved by 21% or $235 million, with free cash flow conversion at 86%.
- Returned $1.5 billion to shareholders through accelerated share repurchases and dividends.
Qualified
- Raw material inflation is expected to be up in the high single-digit range in the second half, leading to a mid-single-digit full-year outlook.
- DIY demand remained muted, with no meaningful improvement in the segment.
- New residential market remained very challenging, with single-family starts and completions negative for 5 of the last 6 months.
- Consumer Brands Group sales in Europe decreased by a double-digit percentage due to customer inventory management and destocking.
Price
$331.61 −1.07% · −$3.59
Performance +0.3% 1Y
1Y: $330.74 on 17 Oct 2025 → $331.61. High $372.6 (12 Feb 2026), low $293 (2 Jun 2026).
- Previous close
- $335.2
- 52-week range
- $293 – $372.6
- One year
- +0.11%
Overview
- Symbol
- SHW
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
17 of 20 judged targets kept · 37 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted diluted EPS | $11.50 to $11.90 | Dec 2025 | adjusted diluted net income per share is now expected to be in the range of $11.80 to $12.20 a share | Revised Up |
| Annualized savings from second-quarter restructuring actions | approximately $17 million of annual savings, with about half realized over the remainder of this year | Jun 2026 | We expect these actions will result in approximately $17 million of annual savings, with about half realized over the remainder of this year. | New |
| Zero-VOC plant-based interior coating launch | launching a Zero VOC plant-based interior coating at the end of the quarter | Dec 2025 | we just launched a product, a system called the Emerald Symmetry, which is our best-performing interior product that we've ever produced | Achieved |
Claimed
- Consolidated sales grew by a high single-digit percentage, exceeding guidance in all three segments.
- Adjusted diluted net income per share increased approximately 10%.
- Adjusted EBITDA grew by 10.5% to $1.5 billion, with adjusted EBITDA margin expanding 60 basis points to 21.5% of sales.
- Net operating cash improved by 21% or $235 million, with free cash flow conversion at 86%.
- Returned $1.5 billion to shareholders through accelerated share repurchases and dividends.
Qualified
- Raw material inflation is expected to be up in the high single-digit range in the second half, leading to a mid-single-digit full-year outlook.
- DIY demand remained muted, with no meaningful improvement in the segment.
- New residential market remained very challenging, with single-family starts and completions negative for 5 of the last 6 months.
- Consumer Brands Group sales in Europe decreased by a double-digit percentage due to customer inventory management and destocking.
The full ledger
Open SHERWIN WILLIAMS CO’s full ledger
A free account opens 5 company ledgers a month. All 57 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
The Sherwin-Williams Company Q1 FY26 — Strong Sales and Gross Margin Expansion Despite Headwinds
Read the full callDec 2025 (Q4 FY25) — Jan 29, 2026
Sherwin-Williams Q4 FY25 — Strong Performance Amidst Challenging Demand
Read the full callEvery analysed call
Sherwin Williams earnings calls (SHW)
Financials
What the filings say
Net profit, year on year: +12% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,163 | 5,297 | 5,306 | 6,315 | 6,358 | 5,596 | 5,667 | 6,789 |
| Operating profit | 1,321 | — | — | — | — | — | — | — |
| Operating margin | 21.4% | — | — | — | — | — | — | — |
| Interest | 103 | 99 | 104 | 112 | 117 | 132 | 132 | 136 |
| Profit before tax | 1,023 | 616 | 653 | 986 | 1,061 | 639 | 680 | 1,113 |
| Tax rate | 21.2% | 22.0% | 22.8% | 23.4% | 21.4% | 25.4% | 21.3% | 24.2% |
| Net profit | 806 | 480 | 504 | 755 | 833 | 477 | 535 | 844 |
| EPS ($ per share) | 3.22 | — | 2.02 | 3.04 | 3.38 | — | 2.18 | 3.46 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 118 | 119 | 90 | 91 | 91 | 92 | 93 | 83 |
| Reserves | 6,247 | 7,367 | 844 | 2,122 | 3,523 | 5,288 | 7,246 | 1,029 |
| Total liabilities | 15,404 | 16,373 | 16,791 | 18,230 | 19,492 | 19,239 | 19,581 | 21,303 |
| Fixed assets | 1,777 | 1,835 | 1,835 | 1,867 | 2,207 | 2,837 | 3,533 | 4,137 |
| Total assets | 19,134 | 20,496 | 20,402 | 20,667 | 22,594 | 22,954 | 23,633 | 25,902 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,944 | 2,321 | 3,409 | 2,245 | 1,920 | 3,522 | 3,153 | 3,452 |
| Cash from investing | -252 | -463 | -322 | -476 | -1,608 | -1,039 | -1,196 | -2,066 |
| Cash from financing | -1,747 | -1,846 | -3,020 | -1,834 | -282 | -2,425 | -2,017 | -1,379 |
| Net cash flow | -49 | 6 | 65 | -61 | 33 | 78 | -66 | -3 |
| Capital expenditure | -251 | -329 | -304 | -372 | -644 | -888 | -1,070 | -798 |
| Free cash flow | 1,693 | 1,992 | 3,105 | 1,873 | 1,275 | 2,634 | 2,083 | 2,654 |
SHW revenue by segment
Paint Stores Group shrank from 59% to 57% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Paint Stores Group | 59% | 57% | 55% | 59% | 60% | 56% | 54% | 57% | +5.1% |
| Performance Coatings Group | 28% | 30% | 30% | 29% | 28% | 29% | 30% | 28% | +6.3% |
| Consumer Brands Group | 13% | 13% | 14% | 13% | 12% | 15% | 16% | 14% | +21.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
SHW operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Employees | 64KI want to begin by thanking our 64,000 global employees for their sheer determination and willingness to solve challenges as we navigate a wide variety of near-term pressures.Source: earnings call transcript | 64KThat'd be one of the 6 -- we talk about our 6 enterprise priorities very consistently with our 64,000 global employees.Source: earnings call transcript | 65KI want to start by thanking our 65,000 global employees for their dedication and determination to deliver a solid year during one of the more challenging operating environments our company has seen.Source: earnings call transcript | 64K+I want to begin by thanking our more than 64,000 employees for executing our strategy in what remains a very challenging operating environment.Source: earnings call transcript | 64K+I want to begin by thanking our more than 64,000 employees for their relentless focus on executing on behalf of our customers.Source: earnings call transcript | — |
| Stores opened Paint Stores Group | 18We expanded segment margin by 120 basis points, 18.4% while continuing to invest in growth by opening 18 new stores in the quarter.Source: earnings call transcript | — | — | 21We opened 21 new stores during the quarter and as planned, closed 27 or about 0.5% of total PSG stores.Source: earnings call transcript | — | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Non Us 20% ↑ 2 pt
As SHW cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
61 filings between Dec 1, 2025 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$9.65M
4 sales by 4 insiders
Compensation
not trading decisions- 35
- Award — granted as compensation
- 5
- Option exercise — converted options into shares
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Binns Justin T | — | $4.76M | Aug 17, 2026 |
| Jorgenrud Karl J | — | $2.90M | Aug 7, 2026 |
| Davie Colin M. | — | $1.07M | Feb 2, 2026 |
| Young Bryan J | — | $915.9K | Feb 24, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Williams Thomas Director | Award | 104 | $33.7K |
| Oct 2, 2026 | THAMAN MICHAEL H Director | Award | 104 | $33.7K |
| Oct 2, 2026 | Gamgort Robert James Director | Award | 104 | $33.7K |
| Oct 2, 2026 | ANDERSON KERRII B Director | Award | 31 | $10.0K |
| Aug 18, 2026 | Binns Justin T President, Glob. Architectural | Gift | 813 | $0 |
| Aug 17, 2026 | Binns Justin T President, Glob. Architectural | Option exercise | 13,500 | $1.22M |
| Aug 17, 2026 | Binns Justin T President, Glob. Architectural | Sale | 13,500 | $4.76M |
| Aug 7, 2026 | Jorgenrud Karl J President, Glob. Industrial | Option exercise | 90 | $11.5K |
| Aug 7, 2026 | Jorgenrud Karl J President, Glob. Industrial | Sale | 7,886 | $2.90M |
| Jul 6, 2026 | Williams Thomas Director | Award | 96 | $33.8K |
| Jul 6, 2026 | ANDERSON KERRII B Director | Award | 29 | $10.0K |
| Jul 6, 2026 | Gamgort Robert James Director | Award | 96 | $33.8K |
| Jul 6, 2026 | THAMAN MICHAEL H Director | Award | 96 | $33.8K |
| Apr 6, 2026 | Gamgort Robert James Director | Award | 107 | $33.7K |
| Apr 6, 2026 | Williams Thomas Director | Award | 107 | $33.7K |
| Apr 6, 2026 | ANDERSON KERRII B Director | Award | 32 | $10.0K |
| Apr 6, 2026 | THAMAN MICHAEL H Director | Award | 107 | $33.7K |
| Feb 24, 2026 | Young Bryan J SVP - Corp Strategy & Devel. | Sale | 2,513 | $915.9K |
| Feb 17, 2026 | Davie Colin M. Pres. & GM, Glob. Supply Chain | Tax withheld | 1,346 | $496.1K |
| Feb 17, 2026 | Davie Colin M. Pres. & GM, Glob. Supply Chain | Award | 3,300 | $0 |
| Feb 17, 2026 | Jorgenrud Karl J President, Glob. Industrial | Tax withheld | 4,379 | $1.61M |
| Feb 17, 2026 | Rea Todd D President, Consumer Brands Grp | Tax withheld | 1,883 | $694.1K |
| Feb 17, 2026 | Young Bryan J SVP - Corp Strategy & Devel. | Tax withheld | 1,387 | $511.2K |
| Feb 17, 2026 | Rea Todd D President, Consumer Brands Grp | Award | 5,100 | $0 |
| Feb 17, 2026 | Binns Justin T President, Glob. Architectural | Award | 9,900 | $0 |
| Feb 17, 2026 | Jorgenrud Karl J President, Glob. Industrial | Award | 9,600 | $0 |
| Feb 17, 2026 | Young Bryan J SVP - Corp Strategy & Devel. | Award | 3,900 | $0 |
| Feb 17, 2026 | Petz Heidi G President & CEO | Tax withheld | 7,494 | $2.76M |
| Feb 17, 2026 | Petz Heidi G President & CEO | Award | 16,800 | $0 |
| Feb 17, 2026 | Lang James P. SVP - Enterprise Finance & CAO | Award | 714 | $0 |
| Feb 17, 2026 | GARCEAU MARY L SVP - CLO and Secretary | Award | 9,000 | $0 |
| Feb 17, 2026 | Jaye James R SVP - IR & Corp. Comm. | Award | 2,100 | $0 |
| Feb 17, 2026 | Binns Justin T President, Glob. Architectural | Tax withheld | 4,416 | $1.63M |
| Feb 17, 2026 | Meisenzahl Benjamin E. SVP - Finance and CFO | Award | 960 | $0 |
| Feb 17, 2026 | Boyce Marlena K. SVP - CHRO | Tax withheld | 411 | $151.5K |
| Feb 17, 2026 | Meisenzahl Benjamin E. SVP - Finance and CFO | Tax withheld | 296 | $109.1K |
| Feb 17, 2026 | Jaye James R SVP - IR & Corp. Comm. | Tax withheld | 639 | $235.5K |
| Feb 17, 2026 | GARCEAU MARY L SVP - CLO and Secretary | Tax withheld | 3,618 | $1.33M |
| Feb 17, 2026 | Boyce Marlena K. SVP - CHRO | Award | 1,338 | $0 |
| Feb 17, 2026 | Lang James P. SVP - Enterprise Finance & CAO | Tax withheld | 230 | $84.8K |
| Feb 17, 2026 | ANDERSON KERRII B Director | Award | 558 | $0 |
| Feb 17, 2026 | Powell Aaron Director | Award | 558 | $0 |
| Feb 17, 2026 | FETTIG JEFF M Director | Award | 558 | $0 |
| Feb 17, 2026 | Thornton Matthew III Director | Award | 558 | $0 |
| Feb 17, 2026 | Gamgort Robert James Director | Award | 558 | $0 |
| Feb 17, 2026 | STEWART MARTA R Director | Award | 558 | $0 |
| Feb 17, 2026 | Williams Thomas Director | Award | 558 | $0 |
| Feb 17, 2026 | THAMAN MICHAEL H Director | Award | 558 | $0 |
| Feb 13, 2026 | Petz Heidi G President & CEO | Tax withheld | 3,322 | $1.24M |
| Feb 13, 2026 | Jorgenrud Karl J President, Glob. Industrial | Tax withheld | 1,510 | $562.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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