Paint Stores Group leads Sherwin-Williams sales increase

The Sherwin-Williams Company had net sales of $5.25 billion for the fourth quarter of 2023, a 0.4 percent increase over net sales of $5.23 billion for the fourth quarter of 2022. The increase was primarily due to a rise in Paint Stores Group (PSG) net sales volume. This growth was partially offset by lower net sales volumes in the Performance Coatings (PCG) and Consumer Brands Groups (CBG). The PSG segment net sales increased 2.3 percent to $2.94 billion in the fourth quarter over the year-ago period. Segment profit increased 14.8 percent year over year. Sales in the CBG segment decreased 7.1 percent to $692.3 million. Segment profit was down 89.7 percent. The PCG segment sales were up 0.4 percent to $1.61 billion compared to the year-ago period. The segment’s profit was up 40.1 percent year over year.