Sherwin-Williams Q3: Strong Paint Store Sales Dampened By Weak Consumer Demand, Guides Sluggish Q4 Sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Benzinga
Financial Performance: Sherwin-Williams reported third-quarter adjusted EPS of $3.37 and revenue of $6.16 billion, both falling short of analyst expectations, with net sales in the Paint Stores Group rising but offset by declines in other segments.
Outlook and Guidance: The company reaffirmed its 2024 adjusted EPS guidance of $11.10 – $11.40 and expects flat to low-single-digit sales growth for the full year, citing variable demand across markets and potential impacts from external factors.
Analyst Views on FMAT
Wall Street analysts forecast FMAT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FMAT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 58.290
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Current: 58.290
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
