What were the key factors behind Sherwin-Williams' Q1 2024 revenue decline?

Sherwin-Williams' Q1 2024 revenue decline can be attributed to several key factors:

1. Decline in Paint Stores Group Sales: The Paint Stores Group, which accounts for a significant portion of Sherwin-Williams' sales, experienced a decline in net sales volumes in both the performance coating and consumer brands groups. This was partially offset by an increase in sales volume in the paint stores group.
2. Performance Coatings Group Challenges: The Performance Coatings Group faced challenges, including a difficult demand environment in the new residential and existing home sales markets, which resulted in a decline in net sales volumes.
3. Consumer Brands Group Impact: The Consumer Brands Group also contributed to the revenue decline, with a decrease in net sales volumes.

In summary, Sherwin-Williams' Q1 2024 revenue decline was primarily driven by challenges in its key business segments, namely the Paint Stores Group, Performance Coatings Group, and Consumer Brands Group. These segments experienced varying degrees of decline in sales volumes, which collectively impacted the company's overall revenue.