Global coatings firm The Sherwin-Williams Company announced its 2024 first-quarter financial results, highlighting a 1.4% net sales decrease year-over-year to $5.37 billion. Net sales in the Consumer Brands Group decreased 7.1% to $811 million from last year’s $872.7 million. In the Performance Coatings Group, net sales also decreased from $1.71 billion to $1.68 billion, primarily due to lower sales volume in North America and Latin America.
Global coatings supplier PPG (Pittsburgh) reported 2024 first quarter net sales of about $4.3 billion, a 2% decrease from the year prior, in a financial results press release, organic sales also reportedly declined 2% versus last year. First-quarter sales for PPG’s Performance Coatings segment totaled about $2.61 billion, down from approximately $2.63 million, or about 1%, compared to 2023. Compared to the prior year’s performance in the same quarter, net sales for PPG’s Industrial Coatings segment were about $1.7 billion, down 3% from 2023.
Equipment manufacturer Graco Inc. released its first-quarter financial results for 2024, reporting a 15% decrease in operating earnings for the quarter.