SHW - The Sherwin-Williams Company (SHW) Q1 2024 Earnings Call Transcript
2024-04-23 14:51:02 ET
The Sherwin-Williams Company (SHW)
Q1 2024 Earnings Conference Call
April 23, 2024 11:00 AM ET
Company Participants
Heidi Petz - President and Chief Executive Officer
Allen Mistysyn - Senior Vice President of Finance and Chief Financial Officer
James Jaye - Senior Vice President of Investor Relations & Corporate Communications
Conference Call Participants
Vincent Andrews - Morgan Stanley
Greg Melich - Evercore ISI
Jeff Zekauskas - JPMorgan
David Begleiter - Deutsche Bank
John McNulty - BMO Capital Markets
Chris Parkinson - Wolfe Research
Josh Spector - UBS
Mike Harrison - Seaport Global
Patrick Cunningham - Citi Investment Research
Aleksey Yefremov - KeyBanc Capital Markets
Ghansham Panjabi - Baird
Michael Leithead - Barclays
Adam Baumgarten - Zelman
Duffy Fischer - Goldman Sachs
Michael Sison - Wells Fargo
Kevin McCarthy - Vertical Research Partners
Garik Shmois - Loop Capital
Steve Byrne - Bank of America
Arun Viswanathan - RBC Capital Markets
Laurence Alexander - Jefferies
Eric Bosshard - Cleveland Research Company
Aron Ceccarelli - Berenberg
Presentation
Operator
Good morning. Thank you for joining The Sherwin-Williams Company's review of First Quarter 2024 Results and our Outlook for the Second Quarter and Full-Year of 2024.
With us on today's call are Heidi Petz, President and CEO; Al Mistysyn, Chief Financial Officer; Jane Cronin, Senior Vice President, Enterprise Finance; and Jim Jaye, Senior Vice President, Investor Relations and Communications.
This conference call is being webcast simultaneously in listen-only mode by Issuer Direct via the Internet at www.sherwin.com. An archived replay of this webcast will be available at www.sherwin.com, beginning approximately two hours after this conference call concludes. This conference call will include certain forward-looking statements as defined under U.S. federal securities laws with respect to sales, earnings and other matters. Any forward-looking statement speaks only as of the date on which such statement is made and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A full declaration regarding forward-looking statements is provided in the company's earnings release transmitted earlier this morning. After the company's prepared remarks, we will open up the session to questions.
I will now turn the call over to Jim Jaye.
James Jaye
Thank you, and good morning. In what is a seasonally smaller first quarter and with continued demand choppiness in several end markets, Sherwin-Williams delivered consolidated sales within our guided range, gross margin expansion and diluted earnings per share and EBITDA growth.
Throughout the quarter, we continued to execute on our strategy, demonstrate our value proposition with current and prospective customers and position ourselves to take advantage of disruptions in the market. While our results were at the lower end of our sales expectations, we remain confident in our full year outlook and there is no change from the guidance we provided in January....
The Sherwin-Williams Company (SHW) Q1 2024 Earnings Call Transcript