The Sherwin-Williams Company (SHW) Earnings Call Transcripts
The Sherwin-Williams Company's Latest Earnings Call - September 24, 2026
In the third quarter of fiscal year 2026, Sherwin-Williams reported revenues of approximately $25 billion, maintaining its previous guidance without any changes. The company continues to emphasize its strategic investments in technology and distribution, which management believes will drive long-term growth despite a challenging market environment. Earnings per share (EPS) growth remains robust, with adjusted EPS increasing an average of 7% annually, reflecting the company's resilience and operational efficiency.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $25B (inline) |
| Adjusted EPS | up 7% YoY (positive) |
| Operating Margin | high teens (positive) |
| Operating Cash Flow | $3.5B (positive) |
| Store Count Growth | 80-100 new stores annually (positive) |
| Gross Margin | 49% (positive) |
Guidance from management
Management maintained its guidance for 2026, expecting to surpass $25 billion in revenue without changes. They emphasized a focus on operational efficiency and market share growth as key drivers moving forward.
What management said
All right. Well, thank you, everybody, for listening to our prepared remarks, and we're going to begin our Q&A session right now. So please raise your hand if you have a question. and a microphone will be brought to you. Please state your name and your company. So we all can hear where you're from. So we'll start off, Heidi?
Yes. So just really quickly, and then Ben is going to take this question. If you look at our leaders in the back of the room here, they would all know when we talk about above market growth, -- the expectation is that we are at a minimum 1.5 to 2x the market. So that is the -- those are the marching orders when we talk about, it's not this loose esoteric ambition. It's got to be that. But with your -- we'll then walk...
What analysts pressed on
Analysts expressed concerns about the potential impact of rising raw material costs on pricing strategies and customer relationships. There was also discussion about the competitive landscape, particularly with large competitors merging, which could create opportunities for Sherwin-Williams to gain market share.
Main topics on the call
- Revenue Growth and Guidance — Sherwin-Williams expects to surpass $25 billion in revenue for 2026, consistent with prior guidance. Management stated, "We are not going to be updating the guidance that we provided on our July 28 earnings call and our ...
- Market Recovery Expectations — Management indicated that while housing activity may remain muted in the near term, factors such as homeowner equity and aging housing stock support future demand. They noted that "the market is more likely to recover th...
- Operational Efficiency and Margin Expansion — Sherwin-Williams has expanded adjusted operating margins consistently over the past four years, with management confident in achieving 20% margins in the industrial segment. Ben Meisenzahl highlighted, "We've expanded ad...
- Strategic Investments and Innovation — The company is focused on leveraging its new global technology center to enhance innovation and customer service. Heidi Petz stated, "We are not waiting for a market recovery. We are acting now controlling what we can co...
Read the full The Sherwin-Williams Company transcript (September 24, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About The Sherwin-Williams Company
The Sherwin-Williams Company (SHW) is a publicly listed company in the Chemicals industry, within the Materials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 43 calls on record spanning January 30, 2020 to September 24, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 43 The Sherwin-Williams Company earnings call transcripts on record, spanning January 30, 2020 to September 24, 2026. Based on this history, The Sherwin-Williams Company reports quarterly. The most recent call on file is dated September 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.