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Despite Strong Demand , Sherwin - Williams Lowers Third Quarter and Full Year 2021 Sales and Earnings Expectations Amid Escalating Raw Material Availability Challenges and Inflation Headwinds ; Announces Agreement to Expand Internal Resin Manufacturing Capabilities September 28 , 2021 CLEVELAND , Sept. 28 , 2021 / PRNewswire / -- The Sherwin - Williams Company ( NYSE : SHW ) today updated its net sales and diluted net income per share guidance for the third quarter and full year 2021 . SUMMARY • Narrows third quarter 2021 consolidated net sales guidance to be flat to down slightly compared to third quarter 2020 • Establishes third quarter 2021 diluted net income per share guidance in the range of $ 1.80 to $ 1.90 per share , including $ 0.20 per share for acquisition - related amortization expense • Lowers full year 2021 consolidated net sales guidance to be up by a high single digit percentage over full year 2020 • Lowers full year 2021 diluted net income per share guidance to be in the range of $ 7.21 to $ 7.41 per share , including $ 0.80 per share for acquisition - related amortization expense and a loss of $ 0.34 per share on the Wattyl divestiture • Management conference call scheduled for 9:00 a.m. EDT , Wednesday , September 29 , 2021 CEO REMARKS " As demand remains robust across our pro architectural and industrial end markets , we continue to make investments in our strategic growth initiatives , including bringing 50 million gallons of additional architectural production capacity online over the next two quarters , " said Chairman , President and Chief Executive Officer , John G. Morikis . " At the same time , 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 . As a result of these headwinds , we are narrowing our third quarter sales expectations and establishing third quarter earnings guidance . For the full year , we now expect sales to be up by a high single digit percentage and adjusted diluted net income per share guidance to be $ 8.45 at the midpoint of the range . " Our suppliers are now reporting that the impacts of Hurricane Ida are more severe and will be longer lasting than initially thought . Production of several key resins , additives and solvents , expected to resume by late September , has been pushed out . We now expect raw material availability issues to negatively impact our consolidated sales by a high - single digit percentage in the fourth quarter . This follows the high - single digit impact in the third quarter we previously communicated . We will continue to partner closely with our suppliers to improve supply while employing all of our assets to reduce the impact on our customers . We are confident the majority of sales delayed by these conditions will be recovered over future quarters as raw material availability improves . " In addition to the significant supply challenges , raw material pricing remains highly elevated , and we are increasing our full - year raw material inflation outlook to be up a high - teens percentage compared to last year . We continue to combat these elevated costs with pricing actions across all of our businesses . We are maintaining staffing in our manufacturing facilities to ensure we meet the demand as quickly as raw material availability issues subside . While maintaining these costs puts additional pressure on our third and fourth quarter earnings , we are committed to providing the resources necessary to drive our customers ' success .