Sherwin-Williams — Oct 28, 2025 release

SUMMARY • Consolidated Net sales increased 3.2% to $6.36 billion in the quarter ◦ Net sales from stores in the Paint Stores Group open more than twelve calendar months increased 3.6% in the quarter • Diluted net income per share increased 5.3% to $3.35 per share in the quarter compared to $3.18 per share in the third quarter of 2024 ◦ Adjusted diluted net income per share increased 6.5% to $3.59 per share in the quarter compared to $3.37 per share in the third quarter of 2024 • Net income increased 3.3% in the quarter to $833.1 million or 13.1% of Net sales • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) in the quarter increased 6.0% to $1.36 billion, or 21.4% of Net sales • Narrowing full year 2025 diluted net income per share guidance in the range of $10.16 to $10.36 per share, including acquisition-related amortization expense of $0.77 per share and severance and other restructuring expenses of $0.32 per share ◦ Narrowing full year 2025 adjusted diluted net income per share guidance in the range of $11.25 to $11.45 per share CEO REMARKS “Sherwin-Williams delivered solid third quarter results, as we continued to execute our strategy in a demand environment that remains softer for longer as we have previously described,” said Chair, President and Chief Executive Officer, Heidi G. Petz. “Throughout the quarter, we continued to serve our customers, invest for success, control our costs, take advantage of a unique competitive environment, and execute on our enterprise priorities. “On a year-over-year basis, consolidated sales increased at the high-end of our guided range. Gross margin expanded, and SG&A growth moderated to the low single-digit percentage level as we expected, inclusive of targeted growth investments, restructuring costs, and new building costs. We grew adjusted EBITDA margin and adjusted diluted earnings per share while returning $864 million to shareholders through share repurchases and dividends during the quarter. “Paint Stores Group sal