The Sherwin-Williams Company (SHW) Earnings Call Transcripts
The Sherwin-Williams Company's Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Sherwin-Williams reported consolidated sales growth of a high single-digit percentage, exceeding guidance across all segments. Adjusted diluted EPS increased approximately 10%, with adjusted EBITDA growing by 10.5% to $1.5 billion. Management raised full-year sales and EPS guidance, now expecting consolidated sales to increase by a mid- to high single-digit percentage and adjusted diluted EPS in the range of $11.80 to $12.20, reflecting stronger execution and ongoing productivity actions.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $5.5B (beat) |
| Adjusted EPS | $11.80 - $12.20 (beat) |
| Adjusted EBITDA | $1.5B (beat) |
| Gross Margin | last year's level (inline) |
| Free Cash Flow Conversion | 86% (positive) |
| Net Debt to Adjusted EBITDA | 2.4x (positive) |
Guidance from management
Management raised full-year consolidated sales guidance to a mid- to high single-digit percentage increase, with adjusted diluted EPS now expected in the range of $11.80 to $12.20.
What management said
Vincent, I'll add in from a market share standpoint, DIY, obviously, there's not been any meaningful improvement in that particular segment. Pros Who Paint, however, we are seeing continued share gains there. And that's a testament to the team successfully executing on our strategy. We've got, obviously, our very strategic partnerships, Lowe's and Menards and others, but this is a growing segment, still a small base ...
Patrick, one other piece to add, and Jim mentioned this, but we talk about AI, data centers and the build-out. You think of the race of these hyperscalers and speed matters, and we can provide speed. We can provide a comprehensive one-shop solution for many of their coatings needs across the board that Jim just mentioned. So we're -- we love the tailwind, and we're ready for it.
What analysts pressed on
Analysts expressed concerns about the DIY market's performance, noting a decline in demand. Additionally, there were questions about the sustainability of margin improvements and the impact of raw material inflation on future earnings.
Main topics on the call
- Revenue Growth Acceleration — Sherwin-Williams achieved strong revenue growth, with consolidated sales increasing by a high single-digit percentage. Management noted, "Our sales outperformance reflects continued execution of our strategy, new account...
- Guidance Increase — Management raised full-year guidance based on strong first-half performance, now expecting consolidated sales to increase by a mid- to high single-digit percentage. They stated, "We are increasing our full year consolida...
- Cost Management and Pricing Strategy — The company implemented targeted pricing actions to offset raw material inflation, including an 8% price increase effective September 1. Management emphasized, "We have taken a thoughtful approach to balance the timing a...
- Segment Performance Insights — The Paint Stores Group grew by a mid-single-digit percentage, while Protective and Marine saw mid-teens growth, marking the eighth consecutive quarter of high single-digit growth. Management noted, "Sales increased by a ...
Read the full The Sherwin-Williams Company transcript (Q2 FY2026) → 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 — 42 calls on record spanning January 30, 2020 to July 28, 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 42 The Sherwin-Williams Company earnings call transcripts on record, spanning January 30, 2020 to July 28, 2026. Based on this history, The Sherwin-Williams Company reports quarterly. The most recent call on file is dated July 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.