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How Sherwin-Williams (SHW) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/28/2026
Sherwin-Williams is an American paints and coatings company based in Cleveland, Ohio. · Wikipedia
More about the company
It is primarily engaged in the manufacture, distribution, and sale of paints, coatings, floor coverings, and related products with operations in over 120 countries. It is the largest coatings company in the world by revenue.
Key growth driver: Consumer Brands — the fastest-growing revenue line: $984, +22% y/y. · by the Q2 2026 report
How does Sherwin-Williams make money?
Sherwin-Williams brought in $6.79 billion of revenue in Q2 2026, up 7.5% year over year. The largest source was Paint Stores Group: $3.89 billion, or 57% of the total, followed by Performance Coatings ($1.91B, 28%) and Consumer Brands ($984M, 14%). Net income for the quarter was $844 million, up 11.8% year over year.
Revenue by source, Q2 2026
- Paint Stores Group$3.89B · 57% · +5.1%
- Performance Coatings$1.91B · 28% · +6.3%
- Consumer Brands$984M · 14% · +21.5%
Shares of $6.79B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is SHW’s next earnings date?
Tuesday, October 27, 2026confirmed · before market open
Sherwin-Williams (SHW) is scheduled to report results for the quarter ending Sep 2026 on Oct 27, 2026. Consensus EPS forecast: $3.66 (8 analysts), vs $3.59 in the same quarter last year.
What time does SHW report? Usually before market open: the last 4 results releases reached the SEC at 7:05 am, 7:05 am, 7:08 am, 7:05 am ET.
Last report: Jul 28, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$6,789
+7.5%
Gross profit
$3,338
+7.0%
49.2% margin · -20 bp
Net income
$844
+11.8%
Diluted EPS $3.43 · adjusted $3.70
Verdict: outgrowing a flat paint market — sales up 7.5% (helped by the Suvinil acquisition) with adjusted EBITDA margin up 60 bp to 21.5% and guidance raised, even as raw-material inflation nicked gross margin and interest costs jumped 21%.
Adjusted EPS $3.70 (+9.5%) · EBITDA $1,435M (21.1% of sales, +13.8%) · $1.46B returned via dividends and buybacks · FY26 adjusted EPS guidance raised to $11.80–12.20.
Source and notation
* marks non-cash / ≈ estimated. Source: Sherwin-Williams press release, 8-K EX-99 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- debt load increased (Q2 2026)
Most likely because interest expense jumped 21% to $136M on higher short-term borrowings and long-term debt (Suvinil funding and the new global headquarters); consumer Brands +21.5% is mostly the October 2025 Suvinil (Brazil) acquisition plus 1.6% FX — the organic consumer business grew modestly. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗SHW earnings history: past report dates
| Jul 28, 2026 Tue | 7:05 ambefore market open | Jun 30, 2026 | $6.8B+8% y/y | $3.43+14% y/y |
| Apr 28, 2026 Tue | 7:05 ambefore market open | Mar 31, 2026 | $5.7B+7% y/y | $2.15+7% y/y |
| Jan 29, 2026 Thu | 7:08 ambefore market open | Dec 31, 2025 | ≈$5.6B+6% y/y | ≈$1.91+1% y/y |
| Oct 28, 2025 Tue | 7:05 ambefore market open | Sep 30, 2025 | $6.4B+3% y/y | $3.35+5% y/y |
| Jul 22, 2025 Tue | 7:04 ambefore market open | Jun 30, 2025 | $6.3B+1% y/y | $3.00−14% y/y |
| Apr 29, 2025 Tue | 7:12 ambefore market open | Mar 31, 2025 | $5.3B−1% y/y | $2.00+2% y/y |
| Jan 30, 2025 Thu | 7:03 ambefore market open | Dec 31, 2024 | ≈$5.3B+1% y/y | ≈$1.90+37% y/y |
| Oct 22, 2024 Tue | 7:07 ambefore market open | Sep 30, 2024 | $6.2B+1% y/y | $3.18+8% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Sherwin-Williams: 5-year financials
| 2025 | 23,574 | — | 2,569 | 790 |
| 2024 | 23,099 | — | 2,681 | 723 |
| 2023 | 23,052 | 4,162 | 2,389 | 624 |
| 2022 | 22,149 | 3,397 | 2,020 | 619 |
| 2021 | 19,945 | 3,084 | 1,864 | 587 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2026Cover of the 2025 10-K: one registered class — Common Stock (NYSE: SHW). sec.gov ↗
- Feb 2026Diluted weighted average shares −9.2% over 2020–2025; SBC $124M — 0.5% of revenue. data.sec.gov ↗
- Feb 2026Dividend of $3.16 per share in 2025 — the 47th consecutive year of increases; quarterly dividend raised to $0.80 in 2026. sec.gov ↗
- Feb 2026Litigation in the 10-K: lead pigment and environmental suits; no shareholder lawsuits or SEC investigations. sec.gov ↗
Scoring: 2.0 with no deductions = 2.0 (single share class, diluted shares −9.2% over 5 years, dividend raised 47 years in a row, no shareholder lawsuits or SEC cases)
- Share classes
- 10-K cover: one class — Common Stock $0.33-1/3 (NYSE: SHW).
- Dilution
- Diluted shares −9.2% over 2020–2025 (adjusted for the 3-for-1 split in 2021); SBC 0.5% of revenue.
- Disclosure
- Full reporting, no violations.
- Dividends
- 2025 marked the 47th consecutive annual dividend increase: $2.42 (2023) → $2.86 (2024) → $3.16 (2025), ~30% of earnings.
- Lawsuits & regulators
- 10-K: lead pigment suits (public nuisance, 2019 California settlement) and environmental matters — not shareholder suits; no SEC cases.
- Related parties
- No material related-party transactions.
How the score works · checked as of Sep 2026
Sherwin-Williams (SHW) earnings: FAQ
How does Sherwin-Williams make money?
Sherwin-Williams brought in $6.79 billion of revenue in Q2 2026, up 7.5% year over year. The largest source was Paint Stores Group: $3.89 billion, or 57% of the total, followed by Performance Coatings ($1.91B, 28%) and Consumer Brands ($984M, 14%). Net income for the quarter was $844 million, up 11.8% year over year.
When is SHW's next earnings date?
Sherwin-Williams (SHW) is scheduled to report on Oct 27, 2026, before market open.
What time does SHW report earnings?
Sherwin-Williams is scheduled to report before market open on Oct 27, 2026. Its last results releases were filed before market open, most recently at 7:05 am ET on Jul 28, 2026.
When did SHW last report earnings?
Sherwin-Williams reported Q2 2026 results on Jul 28, 2026.
What is the EPS estimate for SHW's next earnings?
The consensus EPS forecast is $3.66 (8 analysts), vs $3.59 in the same quarter last year.
Where can I find Sherwin-Williams's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to SHW's filings; this page breaks the latest report down in a Sankey chart.
What was SHW's net income in Q2 2026?
Sherwin-Williams reported net income of $844M for Q2 2026 (+11.8% year over year), under US GAAP.
Does Sherwin-Williams pay dividends?
Yes. In 2025, Sherwin-Williams paid $790M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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