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(June web) AD-Grow-Faster-970x90-Q2

Apr 28, 2023

Paint stores lead Sherwin-Williams sales

The Sherwin-Williams Company had consolidated net sales of $5.44 billion in the first quarter of 2023, an increase of 8.9% compared to consolidated net sales of $5 billion in the first quarter of 2022. Net sales from stores in US and Canada open more than 12 calendar months increased 14.2% year over year. Net sales in the paint stores group increased 14.8% year over year to $2,859 million, primarily due to higher sales volumes across all end markets, as well as selling price increases. Net sales in the consumer brands group increased 2.4% to $872 million primarily due to selling price increases and strong growth within Latin America. Overall, the company had income before income taxes of $615 million in the first quarter, an increase of 33.3% compared to $461 million in the year-ago period.

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