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Sherwin-Williams Paints A Rosy Picture: Q2 Profit Soars Amid Sales Challenges

Sherwin-Williams Company (NYSE:SHW) shares are trading higher after the company reported second-quarter FY24 results. Adjusted earnings per share of $3.70, beating the Wall Street view of $3.48.  Quarterly revenue rose 0.5% Y/Y to $6.27 billion, missing the analyst consensus of $6.33 billion.  Revenue increased due to higher sales volumes in the Paint Stores and Performance Coatings Groups despite lower volumes in the Consumer Brands Group. Net sales in Paint Stores Group rose 3.5% Y/Y, mainly due to low-single-digit volume growth and the continued impact of higher selling prices implemented earlier in the year. Quarterly gross profit increased to $3.06 billion from $2.87 billion a year ago. Gross margin in the quarter under ...