Sherwin-Williams said that its third-quarter results will be hurt by ongoing supply constraints and inflation. The company said it expects third quarter sales to be “down slightly” compared with a year earlier.
“The persistent and industry-wide raw material availability constraints and pricing inflation we have previously reported have worsened, and we do not expect to see improved supply or lower raw material pricing in our fourth quarter as anticipated,” John G. Morikis, chairman and CEO, said in a statement. "Our suppliers are now reporting that the impacts of Hurricane Ida are more severe and will be longer lasting than initially thought."
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