Sales Down At Sherwin-Williams

The Sherwin-Williams Company had consolidated net sales of $4.6 billion in the second quarter of 2020, a decrease of 5.6 per cent over net sales of $4.9 billion in the second quarter of 2019. The decrease in the quarter was due primarily to impacts of COVID-19. Net sales of the Americas group decreased 8.4 per cent year-over-year, net sales of the consumers brands group increased 21.8 per cent, and net sales of the performance coatings group decreased 16.5 per cent. Overall gross margin expanded 330 basis points to 48 per cent compared to the year-ago period. Adjusted EBITDA grew 6.2 per cent to $979 million and was 21.3 per cent of sales compared to 18.9 per cent of sales last year. The company had net income of $245.2 million compared to $471 million in the year-ago period.