Sherwin-Williams Cuts Third-Quarter Outlook on Disruptions
Photographer: Daniel Acker/Bloomberg
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Sherwin-Williams Co. lowered its revenue forecast for the third quarter, becoming the second paint-maker in two days to signal that supply-chain disruptions are vexing sales.
Hurricane Ida’s lingering impact is contributing to an already existing difficulty in obtaining raw materials, the Cleveland-based company said in a statement Wednesday. Third-quarter sales will be up or down by just a low single-digit percentage from the year-earlier period, compared with a prior expectation of as much as a high single-digit increase. The guidance for full-year sales and earnings per share remains unchanged.