Why did SHW's Q1 2024 earnings fall short of forecasts?

The Sherwin-Williams Company's (SHW) Q1 2024 earnings fell short of forecasts due to several key factors:

1. Revenue Shortfall: The company's total revenue for the quarter was $5.3 billion, which included a revenue surprise of -$30 million. This shortfall was likely a significant contributor to the earnings falling short of forecasts.

2. Net Income Impact: Despite the revenue shortfall, SHW's net income for the quarter was $480.1 million, with an EPS surprise of $0.02. The impact of the revenue shortfall on net income and EPS was not as significant, which could indicate that other factors also played a role in the earnings falling short.

3. Analyst Expectations: The average analyst price target for SHW was $403.5, with a consensus rating of "Buy". This suggests that analysts had high expectations for the company's performance, which may have contributed to the disappointment in the earnings report.

In conclusion, SHW's Q1 2024 earnings fell short of forecasts due to a combination of a revenue shortfall and possibly other factors. The company's net income and EPS were impacted, but not as significantly as the revenue shortfall would suggest. Analyst expectations, reflected in the average price target and consensus rating, were likely high, contributing to the disappointment in the earnings report.