Filing Flows › Sherwin Williams (SHW) › Q1 2025
Sherwin Williams (SHW) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Sherwin Williams (SHW) reported revenue of $5.3B for the first quarter 2025 (Q1 2025), -1% from a year earlier and +0.2% from the quarter before. Operating margin was 12.3%, net earnings $504M (9.5% of revenue).
Sherwin Williams, Q1 2025: revenue $5.3B (-1% year over year), operating margin 12.3%, net earnings $504M, operating cash flow −$61.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.3B | +0.2% | -1% |
| Gross profit | $2.6B | -0.5% | +1% |
| Operating profit | $653M | +6% | -26% |
| Net earnings | $504M | +5% | -0.3% |
| Operating cash flow | −$61.1M | — | — |
What changed
Revenue was $5.3B in Q1 2025, down 1% year over year and roughly flat from the previous quarter. Paint Stores Group was the largest line at 55% of revenue. Performance Coatings Group lost $0.08B year over year (down 5%), 130% of the total change.
Gross margin was 48.2%, up 1.1 points from a year earlier. Operating profit was $0.65B, a 12.3% margin (down 4.2 points year over year). Operating expenses grew 16% against a revenue fall of 1%. Net earnings were $0.50B, roughly flat year over year. The effective tax rate was 22.8%.
Operating cash flow was −$0.06B. Non-cash charges added back $0.16B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.75B. Capital expenditures of $0.19B exceeded it, leaving free cash flow of −$0.25B.
Questions
What was Sherwin Williams' revenue in the first quarter 2025?
Sherwin Williams (SHW) reported revenue of $5.3B for the first quarter 2025 (Q1 2025), -1% from a year earlier and +0.2% from the quarter before.
Was Sherwin Williams profitable in the first quarter 2025?
Operating profit was $653M (12.3% of revenue) and net earnings $504M.
Source: Sherwin Williams 10-Q on SEC EDGAR.