SHERWIN WILLIAMS CO Earnings Summary — Q1 2026

• Revenue grew 6.81% year-over-year to $5.67 billion in Q1 2026, marking a significant acceleration from the previous year's slight decline.
• Net income increased 6.11% YoY to $534.7 million, showing resilient profitability despite a 5.06% increase in cost of revenue.
• Gross profit margins improved marginally as gross profit reached $2.78 billion, compared to $2.56 billion in the prior year quarter.
• Operating income rose to $804.6 million from $756.4 million in Q1 2025, maintaining an operating margin of approximately 14.2%.
• Diluted shares outstanding decreased to 248 million from 253 million YoY, reflecting ongoing aggressive share repurchase programs.
• Selling, General & Administrative (SG&A) expenses rose nearly 10% YoY, indicating higher reinvestment in the store network and digital engagement.

Management remains focused on sales-per-store growth and segment margin improvement, with a multi-year vision emphasizing digital engagement and sustainable coating solutions for 2030.

Improving

Quarterly revenue growth of 6.8% is a notable turnaround from the -1.15% contraction seen in Q1 2025, suggesting stronger pricing power or volume recovery.

The company continues to leverage its dominant position with professional painters and its extensive distribution network, maintaining high ROE and strong cash flows despite housing market sensitivity.