Skip to main content

S-W: Prices & Pro Demand Increase

4 August, 2022

Sherwin-Williams released its Q2 financials last week. A very brief summation: Price increases and increased demand from pro painters were strong positives. Falling DIY demand and rising costs were negatives. The company plans a 10% price increase effective Sept. 6.

S-W reported revenue ($5,872.3 million) that was up ~9% year over year, according to Yahoo, and earnings ($2.21/share) that were down ~9% year over year. Both numbers missed Wall Street estimates.

Some highlights:

  • Two factors contributing to revenue growth: higher selling prices and higher volume in professional architectural sales.
  • Factor offsetting growth: Weaker North American DIY demand.
  • Sherwin-Williams repurchased 2.55 million shares of its common stock in the first half.
  • Yahoo reports that S-W shares have declined 11.6% in the past year compared with 8.8% decline of the industry.


Some comments from John G. Morikis, Chairman and Chief Executive Officer:

  • "We are responding aggressively to inflationary pressures by implementing a 10% price increase in The Americas Group effective September 6th.”
  • "Speaking to trends in the business since our June 8th investor day, pro architectural demand in The Americas Group accelerated as the quarter progressed and has meaningfully strengthened further in July.”
  • “The slower North America DIY demand trend we previously described in Consumer Brands Group did not improve.”
  • “We will manage our expenses tightly in the second half with the slowdown in market demand in certain regions and businesses, however, we will continue to invest in growth, including stores, sales representatives and innovative products.”
  • "We expect third quarter 2022 consolidated net sales to increase by a low to mid-teens percentage compared to the same period a year ago."

For additional details, read stories here and here.


Robert C Morris (not verified)

If Sherwin Williams raises product cost 10% across the board this September, I will seriously start looking at competitor products. I have been a long term loyal contractor to the brand. At this time a 10% increase is unacceptable

Thu, 08/04/2022 - 17:46 Permalink
Francis LeDejardins (not verified)

Didn't they just have a price increase at the beginning of this year? Talk about corporate greed and taking advantage of the guy to boost profits. Just because another industry raises their costs isn't a pass to do so yourselves.

Fri, 08/05/2022 - 10:42 Permalink
Robert Snyder (not verified)

This is totally crazy
I have been a loyal customer since the buyout of MAB paints
They have recently purchased A new company
& have become the largest paint company worldwide
Maybe they bit off more than they can chew with this aquisition
Let take care of the loyal painters who have gotten you to this point
Need to start looking elsewhere for suppliers
or a buying team
Just unbelievable

Sun, 08/07/2022 - 11:38 Permalink

Add new comment

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.

If cost and liability were not an issue, what's your one must-have at the company picnic?

Paintball Feld
Axe Throwing
10-Foot Nacho Trough
Potato Salad

Dang it's hot! Does your work vehicle have an orange water cooler?

It's not orange

Did you work for a painting contractor prior to owning your company?


Why haven't you hired a business coach?

Not worth the money
Too difficult to find a good one
I don't need one
I did hire one!

Has OSHA ever inspected your jobsite?


Who Buys the Paint Brushes?


What's the most paint you've ever spilled?


Did you take a week-long (or longer) vacation this summer?


If you had to rename your company one of the following, which would it be?


You meet someone new, and they ask what you do. What do you say?


On the job site, my painters mostly listen to...


Painter Leaps to Escape Fire

Read Now

For the Next Generation

This church receives much needed renovation and beautification.

Read Now

Behr Dynasty

Behr Dynasty is an interior paint featuring the company’s most-…

Read Now

Containment on the Jobsite

When Covid-19 hit the U.S., the painting and construction…

Read Now