Sherwin Williams Co (SHW) · Oct 27, 2026 · Earnings

Sherwin-Williams earnings miss as margins buckle despite sales beat

Miss — Adjusted EPS $3.63 vs published consensus around $3.69

Sherwin-Williams earnings beat revenue expectations but missed adjusted EPS, with Suvinil-driven sales masking weaker Consumer Brands margins.

Sherwin-Williams is growing through pricing, share gains and the Suvinil acquisition while its core paint and coatings markets remain soft; management had already warned that demand was likely to stay muted into 2027.

The quarter beat on sales but missed on adjusted earnings. Revenue rose 7.9% to $6.86 billion, ahead of the published consensus of roughly $6.78 billion, but adjusted diluted EPS of $3.63 came in below consensus near $3.69. The message is that pricing and acquisition-related revenue are holding up better than profitability: gross margin fell to 47.8% from 49.2%, while pretax margin declined to 15.5% from 16.7% (Income Statement). Diluted net income per share was $3.38, compared with $3.35 a year ago.

Metric	Q3 2026	Q3 2025 / expectation	Read
Net sales	$6.86B	$6.36B / ~$6.78B consensus	Above expectation (Income Statement)
Adjusted diluted EPS	$3.63	$3.59 / ~$3.69 consensus	Below expectation (EPS reconciliation)
Gross margin	47.8%	49.2%	Down 140 bps (Income Statement)
Adjusted EBITDA	$1.40B	$1.36B	Up 3.3% (EBITDA reconciliation)
FY2026 adjusted EPS guidance	$11.85-$12.15	Prior $11.80-$12.20	Same midpoint, narrower range (Guidance)

The weakness is concentrated in Consumer Brands, not the entire portfolio. Consumer Brands revenue jumped 21.7%, largely because of Suvinil, but reported segment profit fell 7.1% and adjusted profit fell 4.4%; adjusted margin dropped to 18.3% from 23.3% (Segment results — Consumer Brands). The filing attributes the pressure to raw-material and supply-chain costs, added Suvinil SG&A, foreign-exchange effects and soft North American demand. 〔0〕

The core operating groups are still producing incremental profit, but not with clean margin expansion. Paint Stores sales rose 4.7% and profit 2.1%, while Performance Coatings sales rose 8.8% and profit 6.2%; both groups reported lower margins than a year earlier (Segment results — Paint Stores Group; Segment results — Performance Coatings Group). That supports the company’s share-gain and pricing narrative, but the quarter shows those gains are being absorbed by input costs, mix and higher interest expense rather than flowing fully to earnings. 〔1〕

Guidance is maintained, but the quality of the outlook is less robust than the headline suggests. Full-year sales guidance was maintained at mid- to high-single-digit growth, and the adjusted EPS range was narrowed around the same $12.00 midpoint; the high end of reported EPS guidance fell from $11.32 to $11.22 (Guidance). Management also explicitly expects muted demand through year-end and into 2027. 〔2〕

Bottom line: This is a revenue beat with an earnings miss, caused by margin pressure rather than collapsing demand. The broader strategy remains intact, but Suvinil is currently adding more sales than profit and the filing does not improve the near-term margin story.

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Sherwin-Williams earnings miss as margins buckle despite sales beat

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