Sherwin-Williams Q1 Revenue Hits 5.31 Billion Dollars Profit Rises Despite Sales Decline

On April 29, 2025, Sherwin-Williams announced its Q1 2025 financial results, reporting $5.31 billion in net sales (approx. ¥38.2 billion), a decline of 1.1% year-over-year, primarily due to a 1% negative currency impact. Pre-tax profit rose 2% to $653 million (approx. ¥4.7 billion), driven by higher prices in the Paint Stores Group and strong cost control, despite lower sales volumes.

Diluted EPS grew 1.5% to $2.00, and adjusted EPS increased 3.7% to $2.25. The company’s adjusted EBITDA rose 4.6% to $937 million (approx. ¥6.75 billion), comprising 17.7% of net sales.

The Paint Stores Group led growth, with 2.3% higher sales to $2.94 billion (approx. ¥21.2 billion) due to increased prices. The Consumer Brands Group saw a 6% decline in sales to $762 million (approx. ¥5.5 billion), affected by weak DIY demand in North America and adverse currency effects. The Performance Coatings Group experienced a 4.8% sales drop to $1.6 billion (approx. ¥11.5 billion), with packaging coatings as the only bright spot showing high single-digit growth.

Sherwin-Williams returned $552 million (approx. ¥4 billion) to shareholders through dividends and stock repurchases, including $352 million in stock buybacks. Operating cash flow saw a seasonal outflow of $61.1 million, offset by short-term borrowings.

CEO Heidi G. Petz highlighted margin expansion and cost controls, projecting full-year EPS of $10.70–$11.10, with adjusted EPS expected at $11.65–$12.05, reflecting 4.6% growth at the midpoint. She noted that demand softness could persist into H2 2025, but the company remains committed to targeted investments and customer-centric solutions to navigate macroeconomic challenges.