Sherwin Williams (NYSE:SHW) issued a business update on Thursday that described relatively normal operating trends through the global outbreak of COVID-19 and related containment measures by governments around the world.
The paint giant affirmed its fiscal first-quarter guidance, which calls for sales to rise by between 2% and 5% through late March, while noting a few headwinds related to the pandemic, especially in Asia.
Sherwin Williams had good news to report in this update, including the fact that its production levels are back to normal across Asia and that demand remains strong in the U.S. In fact, North American sales are likely to be at the high end of management's prior forecast, executives said. Supply chain disruptions have also been minimal so far.
The company is keeping its paint stores open while taking steps to protect employees and customers. While that's a relief for shareholders, the situation is still fluid.
"Near-term market conditions are likely to remain unpredictable," CEO John Morikis said in a press release. He also said the dividend giant's "long-term demand fundamentals remain intact." The company is scheduled to release its full first-quarter results on April 29.