SoFi shares rise as record revenue, member growth drive strong Q3 results
Investing.com - On Tuesday, Sherwin-Williams Co (NYSE:SHW) reported third-quarter earnings that exceeded analyst expectations, driven by strong performance in its Paint Stores Group and effective cost management across its business segments.
The paint maker’s shares rose 3.25% in pre-market trading after the results.
The company reported adjusted earnings per share of $3.59 for the third quarter, surpassing the analyst estimate of $3.45. Revenue increased 3.2% YoY to $6.36 billion, above the consensus forecast of $6.2 billion. The positive results came despite what the company described as a "demand environment that remains softer for longer."
"Sherwin-Williams delivered solid third quarter results, as we continued to execute our strategy," said Chair, President and CEO Heidi G. Petz. "Throughout the quarter, we continued to serve our customers, invest for success, control our costs, take advantage of a unique competitive environment, and execute on our enterprise priorities."
The Paint Stores Group, which represents the company’s largest segment, saw sales increase 5.1% to $3.84 billion, with same-store sales rising 3.6%. All professional customer end markets showed growth, led by a double-digit increase in protective and marine coatings and mid-single digit growth in residential repaint and commercial segments.
The Performance Coatings Group posted a 1.7% sales increase to $1.75 billion, driven by packaging and automotive refinish businesses. However, the Consumer Brands Group continued to face challenges with sales declining 2.6% to $770.1 million due to soft DIY demand in North America and Latin America.
For the full year 2025, Sherwin-Williams narrowed its adjusted earnings guidance to $11.25-$11.45 per share, compared to the analyst consensus of $11.29. The company expects consolidated net sales to increase by a low-single digit percentage compared to 2024.
The company also noted that its recently completed Suvinil acquisition, which closed on October 1, is expected to increase consolidated net sales by a low-single digit percentage in the fourth quarter.