On November 17, 2025, Sherwin-Williams entered into an Amended and Restated Credit Agreement with Citicorp USA, Inc., extending the maturity of $75 million of revolving and letter of credit commitments from December 20, 2025 to December 20, 2030.
The new agreement carries substantially the same representations, warranties, covenants, and events of default as the prior May 9, 2016 facility.
Total commitments under the facility step down over time, starting at $875 million through June 20, 2026 and declining to $200 million by December 20, 2030.

3 days ago

8-K

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

Guidance Update

M&A

Consolidated sales increased at the high end of the guided range; adjusted EBITDA margin expanded 60 bps to 21.4%; adjusted diluted EPS grew 6.5%; $864 million returned to shareholders via share repurchases and dividends.
Paint Stores Group sales rose mid-single digits % with high-end, low-single-digit price mix and low-single-digit volume growth; segment profit grew mid-single digits % and segment margin increased by 40 bps.
Consumer Brands Group: price mix up low single digits %, volume down mid-single digits %, FX a slight headwind; adjusted segment margin improved despite an 85 bps restructuring drag; closed the Suvinil acquisition and eight net Sherwin-Williams stores in Latin America.
Performance Coatings Group sales in line with expectations; volume, acquisitions, and FX up low single digits %; packaging grew double digits and auto-refinish mid-single digits; segment profit and margin declined with a 30 bps restructuring headwind.
Updated full-year 2025 guidance: sales up low single digits % vs. 2024; adjusted diluted EPS of $11.25–$11.45; plan to open 80–100 North American paint stores.

Oct 28, 2025, 2:00 PM

Transcript

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

Guidance Update

M&A

Sherwin-Williams delivered solid third-quarter performance with consolidated sales up at the high end of its guided range, adjusted EBITDA margin expanding 60 bps to 21.4%, and adjusted diluted EPS rising 6.5%.
The company returned $864 million to shareholders through share repurchases and dividends year-to-date.
Closed the acquisition of Suvinil, bolstering its Consumer Brands Group footprint in Latin America.
Raised full-year 2025 sales guidance to up low single-digit % versus 2024 and narrowed adjusted diluted EPS outlook to $11.25–$11.45 per share.
2026 initial outlook includes a 7% price increase in Paint Stores Group effective January 1, raw material costs up low single digits, and expectations for a “softer for longer” demand environment.

Oct 28, 2025, 2:00 PM

Transcript

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

M&A

Guidance Update

Consolidated sales increased at the high end of guided range, with Paint Stores and Consumer Brands outperforming and Performance Coatings in line; adjusted EBITDA margin expanded 60 bps to 21.4% and adjusted EPS grew 6.5%
Returned $864 million to shareholders through share repurchases and dividends; opened 23 net new stores in Q3 and 61 year-to-date, driving volume growth
Closed acquisition of Suvinil in Latin America, expected to boost Q4 consolidated sales by a low-single-digit % with mid-teens EBITDA accretion potential and minimal EPS headwind
Temporarily paused company 401(k) matching contributions effective October 1 to preserve jobs amid prolonged soft demand, with plans to reinstate once performance allows

Oct 28, 2025, 2:00 PM

Transcript

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

Guidance Update

Share Buyback

Consolidated sales of $6.36 B, up 3.2% year-over-year; Adjusted EPS $3.59 (+6.5%) and Adjusted EBITDA $1.36 B (+6.0%).
Paint Stores Group sales of $3.84 B (+5.1%) with segment margin expansion; announced a 7% price increase effective January 1, 2026.
Consumer Brands Group sales declined 2.6% to $770.1 M, while Adjusted segment margin improved by 40 bps to 23.3%.
Performance Coatings Group sales rose 1.7% to $1.75 B, but segment profit fell 7.5% to $240.3 M; Adjusted segment profit down 4.5% to $294.9 M.
Guiding Q4 sales up low- to mid-single digits and full-year 2025 Adjusted EPS of $11.25–$11.45.

Oct 28, 2025, 2:00 PM

Presentation

Sherwin-Williams Reports Strong Q3 Profit and Revenue Growth

SHW

Earnings

Guidance Update

M&A

Adjusted EPS of $3.59 and revenue of $6.35 billion in Q3, both surpassing analyst expectations.
Raised full-year adjusted EPS guidance to $11.25–$11.45, reflecting confidence in sustained demand and operational efficiency.
Paint Stores Group drove sales across professional and residential markets, while Consumer Brands Group revenues declined to $770.1 million from $790.5 million year-over-year.
Completed acquisition of Suvinil on October 1, 2025, expected to boost Q4 net sales by a low-single digit percentage.
Returned significant capital to shareholders through dividends and share buybacks amid effective expense management.

Oct 28, 2025, 11:38 AM

Bloomberg

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

Guidance Update

Share Buyback

Sherwin-Williams reported Q3 net sales of $6.36 billion, up 3.2% year-over-year.
Diluted EPS rose to $3.35, up 5.3%, with adjusted diluted EPS of $3.59, up 6.5%.
Net income increased to $833.1 million (13.1% of sales), and adjusted EBITDA grew 6.0% to $1.36 billion (21.4% of sales).
Returned $864 million to shareholders in the quarter via share repurchases and dividends.
Narrowed FY 2025 diluted EPS guidance to $10.16–$10.36 and adjusted diluted EPS to $11.25–$11.45, including acquisition and restructuring costs.

Oct 28, 2025, 11:05 AM

8-K

Sherwin-Williams reports Q3 2025 results

SHW

Earnings

Guidance Update

Share Buyback

Consolidated net sales rose 3.2% to $6.36 billion in Q3 2025.
Net income grew 3.3% to $833.1 million; adjusted diluted EPS rose 6.5% to $3.59.
Adjusted EBITDA increased 6.0% to $1.36 billion, representing a 21.4% margin.
The company narrowed FY 2025 guidance to $10.16–$10.36 diluted EPS and $11.25–$11.45 adjusted diluted EPS.
Sherwin-Williams returned $864 million to shareholders through dividends and share repurchases.

Oct 28, 2025, 11:00 AM

Press Release

Sherwin-Williams completes acquisition of BASF’s Brazilian architectural paints business

SHW

M&A

Sherwin-Williams has completed the acquisition of BASF’s Brazilian architectural paints business, Suvinil, following regulatory approvals this year.
Suvinil reported approximately $525 million in sales for the year ended December 31, 2024, operates two production facilities in Northeast and Southeast Brazil, and employs about 1,000 people.
The purchase was at a low-teens EBITDA multiple, with Sherwin-Williams targeting a net-debt/EBITDA ratio of 2.0–2.5× by year-end 2025; Suvinil is expected to increase Q4 2025 consolidated sales by a low-single-digit percentage with an immaterial EPS impact.

Oct 1, 2025, 8:15 PM

Press Release

Sherwin-Williams amends revolver and arranges new delayed-draw term loans

SHW

Debt Issuance

Amended its existing revolving credit agreement on August 8, 2025, extending the maturity from July 31, 2029 to August 8, 2030, removing the Term SOFR credit spread adjustment and updating the pricing grid.
Established a new 364-day senior unsecured delayed-draw term loan facility with a $750 million USD tranche and a €250 million EUR tranche, available for single draw through October 31, 2025, maturing 364 days after funding, and featuring a consolidated leverage covenant of 3.75× EBITDA (temporarily 4.25× post-acquisition).

Aug 12, 2025, 12:00 AM

8-K

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