Oct 28, 2022
Sherwin-Williams Has Strong Third Quarter
The Sherwin-Williams Company had consolidated net sales of $6.05 billion for the third quarter of 2022, an increase of 17.5 per cent compared to the third quarter of 2021. Net sales from stores in Canada and the U.S. and open more than 12 calendar months increased 20.7 per cent year-over-year. The increase was due primarily to selling price increases in all segments and higher architectural sales volume in the Americas group, partially offset by lower sales volume in the consumer brands group. The Americas group had net sales of $3.6 billion, up 21.4 per cent compared to the prior-year period. The consumer brands group had net sales of $701.9 million, up 8.5 per cent year over year and the performance coatings group had net sales of $1.74 billion, up 13.7 per cent. Overall net income was $685.1 million compared to $502.2 million last year.
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