Sherwin-Williams reported net sales of $5.4bn in the first quarter
On April 25, Sherwin-Williams reported earnings for the first quarter of 2023. Sherwin-Williams consolidated net sales for the first quarter increased 8.9% year-over-year to $5.44 billion. Income before income tax increased 33.3% year-over-year to $610 million; Net income rose 28.9 percent from a year earlier to $480 million.
Effective January 1, 2023, Sherwin-Williams changed its organizational structure to manage and report on the Latin American architectural coatings business within the Consumer Brands Group in order to align demand and service pattern trends more closely with its current business strategy. The Latin American operations were previously part of the Americas Group and with this change, the Americas Group has become the Paint Stores Group. Beginning in the first quarter of 2023, Sherwin-Williams will report current and prior segment results for the newly adjusted Paint Store Group and Consumer Brands Group.
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