Q1 25 EPS
$2.25
BEAT +4.12%
Est. $2.16
Q1 25 Revenue
$5.31B
MISS 1.85%
Est. $5.41B
vs S&P Since Q1 25
-37.6%
TRAILING MARKET
SHW -7.6% vs S&P +30.0%
Market Reaction
Did SHW Beat Earnings? Q1 2025 Results
Sherwin-Williams navigated a difficult start to 2025 with a mixed but ultimately encouraging first quarter, beating earnings expectations even as revenue came in slightly below consensus. The paint giant posted adjusted diluted EPS of $2.25, ahead of… Read more Sherwin-Williams navigated a difficult start to 2025 with a mixed but ultimately encouraging first quarter, beating earnings expectations even as revenue came in slightly below consensus. The paint giant posted adjusted diluted EPS of $2.25, ahead of the $2.16 analyst estimate by 4.12%, while revenue of $5.31 billion fell 1.85% short of the $5.41 billion consensus and declined 1.1% year-over-year, with roughly one percentage point of that drop tied to unfavorable foreign currency translation. The real story was margin discipline: gross margins expanded 100 basis points to 48.2% of net sales, with the Paint Stores Group serving as the standout, growing net sales 2.3% to $2.94 billion and posting same-store sales growth of 1.2%, reversing a prior-year decline. Adjusted EBITDA climbed 4.6% to $937.00 million despite the soft volume backdrop. Management reaffirmed full-year guidance for adjusted diluted EPS of $11.65 to $12.05, and the company's previously announced acquisition of BASF's Brazilian decorative paints business adds a longer-term growth dimension as Sherwin-Williams deepens its presence in an expanding architectural coatings market.
Key Takeaways
- • Gross margin expansion to 48.2% from 47.2% driven by selling price increases in Paint Stores Group
- • Effective cost control across all segments
- • High-single digit growth in protective and marine coatings within PSG
- • Mid-single digit growth in residential repaint within PSG
- • High-single digit growth in Packaging within Performance Coatings Group
- • Same-store sales growth of 1.2% in Paint Stores Group
- • Mid-single digit percentage selling price increases in PSG
SHW YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
SHW Revenue by Segment
With YoY comparisons, source: SEC Filings
“In a demand environment that remained choppy as we anticipated, Sherwin-Williams continued to execute our strategy and delivered solid first quarter results driven by gross margin expansion and good cost control. Consolidated sales were within our guidance range, led by Paint Stores Group, and we delivered mid-single digit percentage growth in both adjusted diluted net income per share and adjusted EBITDA. We continued to execute our consistent capital allocation strategy and invested $351.7 million in share repurchases and increased our dividend by 10.5% in the quarter.”
— Heidi G. Petz, Q1 2025 Earnings Press Release
SHW Earnings Trends
SHW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SHW EPS Trend
Earnings per share: estimate vs actual
SHW Revenue Trend
Quarterly revenue: estimate vs actual
SHW Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.35 | — | $5.67B | — |
| Q4 25 BEAT FY | $2.16 | $2.23 | +3.24% | $5.60B | +0.83% |
| FY Full Year | $11.37 | $11.43 | +0.49% | $23.57B | +0.20% |
| Q3 25 BEAT | $3.44 | $3.59 | +4.38% | $6.36B | +2.60% |
| Q2 25 MISS | $3.81 | $3.38 | -11.38% | $6.31B | +0.19% |
| Q1 25 BEAT | $2.16 | $2.25 | +4.12% | $5.31B | -1.85% |