![]() We now expect full year consolidated net sales to be up a low-single digit percentage compared to 2022, versus our prior guidance of flat to down a mid-single digit percentage. For the full year 2023, we are increasing both sales and net income per share guidance. “As for our guidance, we expect 2023 third quarter consolidated net sales growth to be up or down a low-single digit percentage compared to the third quarter of 2022. We expect to continue delivering above market growth and returns. “Even in challenging environments like the current one, we remain confident in our strategy, and we will continue to invest in stores, sales and technical reps, innovation, digital and other growth initiatives to press our advantages now as well as when markets recover more fully. We expect new residential demand to remain soft due to continued slowing of completions, though share gains should enable us to outperform the market,” he continued. “In the Paint Stores Group, we expect demand to remain solid in commercial, property maintenance, protective and marine and residential repaint. “At the same time, our second half comparisons remain challenging, and demand is likely to vary widely by region and end market, leading us to focus even more intensely on our new account and share of wallet initiatives. “As a result of our better-than-expected first half results and our current visibility into the second half, we are increasing our sales and earnings guidance for the full year,” said Morikis. The company has increased its guidance but warned the year’s second half will be a challenge. Coil and Packaging sales were down against very difficult comparisons.” We also generated growth in our General Industrial and Industrial Wood businesses. Sales in our Consumer Brands Group increased by a low-single digit percentage in North America and a strong double-digit percentage in Latin America and Europe. New residential sales were flat, as completions slowed as expected. “Residential repaint sales were up a high-single digit percentage. Offering a unique and professional service by helping companies and individuals find the correct paints, surface coatings and concrete repair materials for their needs.“In our reportable segments, growth in our Paint Stores Group was led by double-digit percentage growth in protective and marine, commercial and property maintenance,” Morikis said. We have many years’ experience in the paint industry we are committed to provide a level of professional service and commitment, priding ourselves on the knowledge and commitment of the materials and technologies available in the paint and surface coating industry. Why Choose Us?Īs a leading brand specialist in Sherwin Williams paints, Promain believe we should be your number one choice for all of your paint needs whether its floor paint, metal paint, spray paints, interior or exterior paints we have you covered. We can specify Sherwin-Williams paint in an vast range of Ral, BS4800 and house colours, ensuring your infrastructure, floors, pipes and other steelwork etc.
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