What factors influenced SHW's 2024 earnings misses?

Sherwin-Williams' (SHW) 2024 earnings misses were influenced by a combination of factors affecting different segments of its business: 1. **Revenue Shortfall in Consumer Brands and Performance Coatings Groups**: - The Consumer Brands Group saw a decline of 7.5% year-over-year, missing the Zacks Consensus Estimate. This was due to weaker DIY demand in North America and adverse foreign currency translation, particularly in Latin America. - The Performance Coatings Group experienced a modest decline of approximately 0.2% year-over-year. This segment faced challenges from currency headwinds and mixed volume performance across regions. 2. **Impact of Divestitures and Foreign Currency Translation**: - The divestiture of Sherwin-Williams' China architectural business in 2023 had a lasting impact, affecting sales volumes in the Consumer Brands Group and the Performance Coatings Group. - Adverse foreign currency translation, particularly in Latin America, contributed to the decline in sales volumes and revenue. 3. **Sales Volume Decline in North America and Latin America**: - Reduced sales volumes in North America and Latin America, partly offset by increased sales volumes in Europe, contributed to the decline in net sales. 4. **Unfavorable Currency Translation**: - Currency headwinds affected the Performance Coatings Group, impacting sales growth and contributing to the overall revenue shortfall. In summary, Sherwin-Williams' 2024 earnings misses were primarily due to revenue shortfalls in the Consumer Brands and Performance Coatings Groups, influenced by divestitures, foreign currency translation, sales volume declines in key regions, and mixed volume performance across areas.