Sherwin Williams Automotive Store Locator

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Sherwin Williams Automotive Store Locator – CLEVELAND, Jan. 27, 2022 // — Sherwin-Williams (NYSE: SHW) announced financial results for the fourth quarter ended December 31, 2021. All comparisons were made for the full year and the fourth quarter of the prior year. , unless otherwise stated.

“Our full year and fourth quarter were marked by industry-wide supply chain disruptions, unprecedented cost inflation and ongoing challenges,” said President and CEO John G. Morikis related to the pandemic. “The 61,000 dedicated employees at Sherwin-Williams refuse to use these challenges as an excuse instead of an opportunity to get closer to our customers. We strive to minimize the impact on their business through innovative, value-added services.” We achieved full-year sales growth of 8.6%, driven by same-store sales growth of 6% in the United States and Canada and double-digit growth in all industrial end markets.

Sherwin Williams Automotive Store Locator

Sherwin Williams Automotive Store Locator

“While we are focused on meeting customer needs, we have also reduced additional costs through year-round pricing activities across all businesses. The pressure on our margins is huge in the short term, but we remain confident. We expect them to recover from previous cycles.” , means. We are increasing trade and see commodity prices moderating over time. During the year, we continued to invest in several long-term growth initiatives, including in the United States, including the opening of 79 paint stores in Canada and employing approximately 1,400 management trainees.We also generated strong net cash from operations during the year, enabling us to invest $2.8 billion in share repurchases, pay dividends, pay out $587 million and announce three takeovers.

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“From a segment perspective, the Americas Group reported full-year sales growth across all professional customer segments, including double-digit percentage growth in residential makeup for the 6th consecutive year. Our Consumer Brands Group faced a challenging benchmark all year. continued focus on supporting core retail activities. Partners and our coating experts lead this initiative. Within the Performance Coatings group, all companies and all regions achieved double-digit percentages throughout the year.”

Sherwin Williams Automotive Store Locator

Consolidated net sales increased mainly due to higher sales prices in all segments and higher sales volume of products in the Performance Coatings group, mainly due to problems with the supply of raw materials, lower sales in the Americas Group and Consumer Brands Group. Earnings before income taxes decreased primarily due to lower sales in the Americas Group and Consumer Brands Group and higher raw material costs in all three segments, partially offset by price increases and PSA cost control.

TAG’s net sales increased primarily due to higher selling prices in all end markets, partially offset by lower sales of color products due to raw material supply challenges and Covid-related labor constraints. . The profitability of the TAG segment decreased primarily due to lower paint sales in all end markets and higher raw material costs, which were partially offset by price increases.

Sherwin Williams Automotive Store Locator

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Adjusted segment earnings exclude the impact of acquisition-related depreciation and amortization costs. Acquisition-related amortization expense at CBG was $19.3 million and $23.0 million in the fourth quarter of 2021 and 2020, respectively.

Net sales at CBG decreased primarily due to lower sales volume to all of our retail customers due to raw material supply issues and adhesive segmentation, partially offset by price increases. CBG segment profit decreased primarily due to lower sales volume, higher raw material costs and supply chain inefficiencies, partially offset by higher prices and better cost controls. Acquisition-related depreciation and amortization expense reduced segment profitability as a percentage of external net sales by 350 basis points compared to 370 basis points in the fourth quarter of 2020.

Sherwin Williams Automotive Store Locator

Adjusted segment earnings exclude the impact of acquisition-related depreciation and amortization costs. Acquisition-related amortization expense was $50.8 million and $53.9 million at PCG in the fourth quarter of 2021 and 2020, respectively.

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PCG’s net revenues increased mainly due to increased sales in all end markets and higher selling prices. PCG segment profit decreased primarily due to higher raw material costs, partially offset by increased sales volume and higher selling prices. Acquisition-related depreciation and amortization expense reduced segment profitability as a percentage of external net sales by 320 basis points compared to 410 basis points in the fourth quarter of 2020.

Sherwin Williams Automotive Store Locator

The company generated net cash from operations of $2.24 billion during the year. This strong cash generation, along with an increase in our short-term borrowings and long-term debt, enabled the company to return approximately $3.34 billion, or approximately 14.0%, of cash to our shareholders in the form of dividends and stock. Buybacks The company bought back 10.1 million ordinary shares during the year. As of December 31, 2021, the Company had options remaining to purchase 48.6 million shares of common stock through open market purchases.

“We project full-year adjusted diluted net earnings of $9.25 to $9.65 per share, representing growth of 16.0 percent,” Mr. Morikis compared to mid-2021. “As we stated in our mid-January interim results announcement, demand in our end markets remains strong, although we expect raw material supply and Covid-related concerns to continue in the first quarter. Consolidated net sales in the second quarter of 2022 will increase in the low to mid-single digits compared to the first quarter of 2021. For the full year 2022, we expect our consolidated net sales to increase by a single-digit to low-double-digit percentage through 2021. We expect full-year raw material costs to remain high but moderate, and we expect reasonable prices to offset increased costs .

Sherwin Williams Automotive Store Locator

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“We are confident in our strategy, our capabilities and the diverse product and service solutions we offer our customers, and we look forward to leading the market in the long term. Our business remains strong and we are becoming an even stronger company.” We face challenges in 2021 . Our strong cash position allows us to continue to make strategic investments in the growth of our business, return cash to shareholders through dividends and share repurchases, and will enable acquisitions of growth companies that are consistent with our strategy. Our focus is on maximizing shareholder value.”

The company will host a conference call on Thursday, January 27, 2022 at 11:00 a.m. EST to discuss its fourth quarter and full year 2021 financial results and its outlook for the first quarter and full year of 2022. The call will chairman, president and CEO John G. Morikis, along with other senior executives, participated.

Sherwin Williams Automotive Store Locator

The conference call will be streamed simultaneously via Issuer Direct in listen-only mode. To listen to the webcast on the Sherwin-Williams website, click https://investors.sherwin-williams.com/financials/quarterly-results/, then click the webcast icon for the Q4 webcast reference. An archived webcast replay will be available at https://investors.sherwin-williams.com/financials/quarterly-results/ approximately two hours after the end of the call.

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Founded in 1866, Sherwin-Williams is a world leader in the manufacture, development, distribution and sale of paints, coatings and related products to professional, industrial and commercial, commercial and retail customers. The company produces products under well-known brands such as Sherwin-Williams

Sherwin Williams Automotive Store Locator

Branded products are sold exclusively through a chain of more than 5,000 company-operated stores and facilities, while other company brands are sold through mass merchandisers, home centers, independent paint dealers, hardware stores, auto dealers and industrial distributors. Sherwin-Williams Performance Coatings Group offers a wide range of highly engineered solutions for the manufacturing, industrial, packaging and shipping markets in more than 120 countries worldwide. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.

With respect to sales, earnings and other matters in this press release, the United States. Contains certain “forward-looking statements” as defined under federal securities laws. These statements can be identified by the use of forward-looking vocabulary such as “believe,” “expect,” “”may,” “”will,” “”should,” “project,” “could.” “” plan” ,” “”goal,” “goal,” “”potential,” “”research,” “”intend,” “”will” or “anticipate guess” or a negative or comparable term. These forward-looking statements include management’s view of current, past expectations based on estimates, assumptions, assumptions and beliefs about future events and conditions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements necessarily involve risks, uncertainties and other factors. are subject to, many of which are beyond the Company’s control, which may cause actual results to differ materially from such statements and the Company’s past results, performance and experience. and economic conditions, the Company’s ability to successfully integrate past and future acquisitions into the ongoing operations and performance of the acquired companies; the strength of the retail and manufacturing economy and the growth of the coatings industry; changes in the company’s relations with customers and suppliers; changes in the availability and prices of raw materials; adverse weather conditions or the consequences of climate change, natural disasters and public health crises, including the Covid-19 pandemic; The duration, intensity, and scope of the COVID-19 pandemic and the actions taken by international, federal, state, and local public health and government agencies to contain and combat the outbreak and spread

Sherwin Williams Automotive Store Locator

Sherwin Williams Paint Store 126 9 Liberty Ave, Queens, Ny 11419

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