Sherwin-Williams Paints A Rosy Picture: Q2 Profit Soars Amid Sales Challenges
Portfolio Pulse from Lekha Gupta
Sherwin-Williams (NYSE: SHW) reported strong Q2 FY24 results with adjusted EPS of $3.70, beating expectations, and a slight revenue increase to $6.27 billion, though missing analyst estimates. The company raised its 2024 EPS guidance and expects low-single-digit sales growth. SHW shares rose 4.20% following the news.
July 23, 2024 | 2:00 pm
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POSITIVE IMPACT
Fidelity MSCI Materials Index ETF (FMAT) may see a positive impact due to Sherwin-Williams' strong Q2 FY24 results and raised guidance, as SHW is a significant component of the ETF.
Sherwin-Williams' strong performance and raised guidance are likely to positively impact FMAT, given SHW's significant weighting in the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Sherwin-Williams reported strong Q2 FY24 results with adjusted EPS of $3.70, beating expectations, and a slight revenue increase to $6.27 billion, though missing analyst estimates. The company raised its 2024 EPS guidance and expects low-single-digit sales growth. SHW shares rose 4.20% following the news.
The strong earnings beat and raised guidance are positive indicators for SHW's stock price. The slight revenue miss is overshadowed by the overall positive financial performance and optimistic outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Materials Select Sector SPDR (XLB) may see a positive impact due to Sherwin-Williams' strong Q2 FY24 results and raised guidance, as SHW is a significant component of the ETF.
Sherwin-Williams' strong performance and raised guidance are likely to positively impact XLB, given SHW's significant weighting in the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50