$340.39
$-0.30 (-0.09%)
End-of-day quote: 03/11/2024
NYSE:SHW

Sherwin Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe, Asia and Australia.

Segments

The company operates through three segments: Paint Stores Group, Consumer Brands Group and Performance Coatings Group ((individually, a Reportable Segment and collectively, the Reportable Segments).

Paint Stores Group

Paint Stores Group consisted of company-operated specialty paint stores in the United States, Canada and the Caribbean region. Each store in this segment is engaged in servicing the needs of architectural and industrial paint contractors and do-it-yourself homeowners. These stores market and sell Sherwin-Williams and other controlled brand architectural paint and coatings, protective and marine products, OEM product finishes and related products. The majority of these products are produced by manufacturing facilities in the Consumer Brands Group. In addition, each store sells select purchased associated products.

Consumer Brands Group

The Consumer Brands Group manufactures and distributes a broad portfolio of branded and private-label architectural paint, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives to retailers, including home centers and hardware stores, dedicated dealers and distributors throughout North America, Latin America and Europe. During 2023, the company divested a non-core domestic aerosol business and the China architectural business, both part of the Consumer Brands Group.

Sales and marketing of certain controlled brand and private-label products is performed by a direct sales staff. The products distributed through third-party customers are intended for resale to the ultimate end-user of the product. The Consumer Brands Group also consists of company-operated specialty paint stores in Latin America. Each store in this segment is engaged in servicing the needs of home, commercial and industrial projects to contractors and do-it-yourself customers in Latin America. These stores market and sell Sherwin-Williams and other controlled brand architectural paint and coatings, protective and marine products, OEM product finishes and related products which are branded for the Latin America market. In addition, each store sells select purchased associated products. The Consumer Brands Group also supports the company’s other businesses around the world with new product research and development, manufacturing, distribution and logistics. Approximately 61% of the total sales of the Consumer Brands Group in 2023 were intersegment transfers of products primarily sold through the Paint Stores Group. The Consumer Brands Group had sales to certain customers that, individually, may be a significant portion of the sales and related profitability of the segment.

Performance Coatings Group

The Performance Coatings Group develops and sells industrial coatings for wood finishing and general industrial (metal and plastic) applications, automotive refinish, protective and marine coatings, coil coatings, packaging coatings and performance-based resins and colorants worldwide. This segment licenses certain technology and trade names worldwide. During 2023, the company acquired German-based SIC Holding GmbH which is part of the Performance Coatings Group. Sherwin-Williams and other controlled brand products are distributed through the Paint Stores Group, this segment’s company-operated branches, a direct sales staff and outside sales representatives to retailers, dealers, jobbers, licensees and other third-party distributors. The Performance Coatings Group had sales to certain customers that, individually, may be a significant portion of the sales of the segment.

Seasonality

The majority of the sales for the Reportable Segments traditionally occur during the second and third quarters (year ended December 31, 2023).

Trademarks and Trade Names

Customer recognition of trademarks and trade names owned or licensed by the company collectively contribute significantly to the company’s sales. The major trademarks and trade names used by each of the Reportable Segments are set forth below.

Paint Stores Group: Sherwin-Williams, A-100, Builders Solution, Captivate, Cashmere, Duration, Emerald, Gallery Series, Kem Tone, Latitude, Loxon, Metalatex, Novacor, Painters Edge Plus, ProClassic, ProCraft, Pro Industrial, ProMar, Scuff Tuff, SuperDeck, SuperPaint, and Woodscapes.

Consumer Brands Group: Cabot, Colorgin, Condor, Dupli-Color, Dutch Boy, Geocel, HGTV HOME by Sherwin-Williams, Krylon, Minwax, Purdy, Ronseal, Thompson’s WaterSeal, Valspar, and White Lightning.

Performance Coatings Group: Sherwin-Williams, Acrolon, AcromaPro, ATX, DeBeer Refinish, Duraspar, EcoDex, Envirolastic, Excelo, EzDex, Fastline, Firetex, Fluropon, Gross & Perthun, Heat-Flex, House of Kolor, Huarun, ICA, Inver, Kem Aqua, Klumpp Coatings, Lazzuril, Macropoxy, Martin Senour, Matrix Edge, M.L. Campbell, Octoral, Oskar Nolte, PermaClad, Polane, Powdura, Sayerlack, Sher-Wood, Sumare, Ultra 9K, Ultra 7000, ValPure, and Valspar.

Research and Development

The company’s research and development costs were $196.6 million for 2023.

History

The Sherwin-Williams Company was founded in 1866. The company was incorporated in Ohio in 1884.

Country
Industry:
Paints, Varnishes, Lacquers, Enamels, and Allied Products
Founded:
1866
IPO Date:
01/02/1968
ISIN Number:
I_US8243481061

Contact Details

Address:
101 West Prospect Avenue, Cleveland, Ohio, 44115-1075, United States
Phone Number
216 566 2000

Key Executives

CEO:
Petz, Heidi
CFO
Mistysyn, Allen
COO:
Data Unavailable