Sherwin-Williams Defies Coronavirus Fears, Maintains Q1 2020 Outlook
Sherwin-Williams (NYSE: SHW) just did the unexpected: defy market fears of massive COVID-19 pandemic supply disruptions and maintain its outlook for the first quarter of 2020. This encouraging news from Sherwin-Williams comes at a time when rival Home Depot and key retail partners like Walmart (NYSE: WMT) are cutting back store operating hours to prevent the spread of the virus. Sherwin-Williams primarily sells paints and coatings through its own specialty stores, but also has long-standing partnerships with consumer discretionary chains like Walmart and Lowe's.
Sherwin-Williams shares have lost nearly in 28% value in the past month, as of the time of this writing.
In late-January, Sherwin-Williams guided for 2%-5% year-over-year growth in net sales for the first quarter, driven by strong demand from architectural and industrial markets. The company just affirmed its guidance, and in fact, said sales from its Americas Group segment to be "above the high end of the range."
Source Fool.com
