Sherwin-Williams Reports Q4 Revenue of $5.6B
Reports Q4 revenue $5.6B, consensus $5.57B. "Sherwin-Williams delivered strong fourth quarter results driven by solid core performance amid continued demand choppiness, and inclusive of the first full quarter of the Suvinil acquisition," said CEO Heidi Petz. "Consolidated Net sales were at the high end of our guidance, adjusted EBITDA improved by a low-teens percentage and adjusted diluted net income per share increased by a mid-single digit percentage. We continued to execute our strategy, prioritize strategic growth investments, and tightly manage general and administrative expenses. SG&A growth remained in our targeted low-single digit range, including the addition of Suvinil, as previously announced restructuring efforts continued to yield savings. Free cash flow conversion in the quarter was 90.1%...Net operating cash grew 9% to $3.5B, or 14.6% of Net sales, which is within our mid-term target range and consistent with our disciplined capital allocation strategy. Our targeted capital expenditures included our new buildings, which are now occupied and supporting our field teams and customers, and we returned $2.4B to shareholders through share repurchases and dividends, which we increased for the 47th consecutive year."
