Sherwin-Williams CEO Heidi G. Petz, Said,"Gross margin was primarily impacted in the quarter by higher raw material and supply chain related costs and by mix, including dilution from Suvinil and higher growth in lower margin reportable segments. Excluding the dilutive impact of the Suvinil acquisition, our year-to-date gross margin is flat compared to the prior year."
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Why It Matters
Sherwin-Williams made less profit on each can of paint sold this quarter. The company paid more for raw materials and had some slower profit areas, so watch whether costs come down or if they find ways to earn more per sale.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
Disclosure: Educational and informational purposes only. Not financial advice. We educate, not advise. Market data may be delayed up to 15 minutes unless marked real-time. Past performance is not indicative of future results.