On July 25, paint and coating manufacturer Sherwin-Williams Company announced its 2023 second-quarter earnings, which included a modest 0.3% increase in sales for its Performance Coatings Group.
The group includes divisions of Auto Refinish, Coil, General Industrial, Industrial Wood and Packaging. Sales for the group were nearly $1.795 billion, up slightly from the roughly $1.79 billion reported in 2Q 2022.
Adjusted segment profit for the Performance Coatings Group was $322.3 million, a 30.4% increase over the same quarter in 2022. Adjusted segment margin was 18.0%, an increase of 420 basis points.
For the company as a whole during 2Q, net sales increased 6.3% to $6.24 billion. Gross profit for the quarter was $2.872 billion, a 17% increase over 2Q 2022.
Related Posts
-
Avnet's 2Q sales were up 14.5% year-over-year, according to its Feb. 2 earnings announcement.
-
K-C Professional posted second-quarter sales of $887 million, an 11% increase year-over-year and 13% organic…
-
The industrial automation manufacturer saw explosive sales growth in 2Q compared to 1Q.
