ONEOK 2026 Outlook and Financial Guidance Summary

Sherwin-Williams’ view for Q1 2026: resilience and sales growth trajectory

Based on Sherwin-Williams’ Q1 2026 earnings discussion, the company expects continued market resilience—even in a “choppy” and demand-soft environment—primarily through share gains, targeted investment, and selective pricing, rather than broad-based end-market growth. ¹²³

1) What “resilience” means in Q1 2026 (company’s framing)

Sherwin-Williams characterized the operating environment as macro-uncertain and competitive-volatility (“jump ball”) with “some slowing in the market,” yet asserted it is still taking “more than our fair share of volume”. ¹³

In management’s description, resilience shows up as:

• Property maintenance / residential repaint holding up: property maintenance was up low single digits where turns and capex were under pressure, and DIY was up mid single digits. ⁴
• Protective & marine sustained share gains: this segment was up at least high single digits for the seventh straight quarter, attributed to share gains. ⁴²
• Commercial outperforming despite softness: commercial sales were up mid single digits while completions were down double digits; the company cited healthy exterior backlogs and strong bidding/new account activity. ³

Bottom line: the company is not relying on the market to improve; it is relying on execution (share gain + new account growth) and controlling what it can (cost and portfolio actions). ¹⁵⁴

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2) Expected sales growth in Q1 2026: what the company actually reported

In the Q1 2026 results commentary, Sherwin-Williams described consolidated and segment performance as follows:

Consolidated sales growth (Q1 2026)

• Consolidated sales grew by a “high single-digit percentage” (with a low single-digit contribution from the Suvenil acquisition). ⁶

This is the clearest direct statement about growth in the quarter. ⁶

Paint Stores Group (PSG) sales growth (Q1 2026)

Within PSG:

• PSG grew by a mid single-digit percentage (with price mix and volume both increasing by low single digits, and price mix increasing more than volume). ²
• Residential repaint returned to mid single-digit growth in the quarter. ²

Performance Coatings Group / other segment color

While the excerpted discussion provides more granular divisional commentary than a single “PCG up X%” figure, management emphasized that growth momentum came from specific categories and new business:

• Refinish was up double digits in every region, and packaging and other industrial categories were also strong, reinforcing an expectation of continued share-focused outperformance. ⁷⁸
• Management explicitly said the better-than-expected performance in key PCG areas (e.g., refinish, general industrial, coil) is expected to continue. ⁷

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3) How Sherwin-Williams expects resilience and growth to evolve through Q1 2026’s environment (i.e., what they imply about continuation)

Sherwin-Williams’ outlook language in the excerpts points to a continuation pattern rather than a step-change expectation:

1. Continue share gains / out-execution even as markets slow

• Management said that even though there is some slowing in the market, teams are out chasing square footage with “the strongest… new account activity in a long time,” tied to outperforming in res repaint and commercial. ³

2. DIY and property maintenance durability

• The company highlighted property maintenance up low single digits in a weak capex/turn environment and DIY up mid single digits (with the premium DIYer holding up better than value-conscious DIYer). ⁴

3. Protective & marine momentum

• They cited seventh straight quarter of protective & marine being up at least high single digits, and positioned this as “all share gains.” ⁴

4. Selectively manage price vs. volatility in raw materials

• Management expects continued volatility in the raw material environment and said it is prepared to implement additional increases if necessary, while simultaneously accelerating cost reductions to limit increases for customers. ⁵
• They also emphasized that their pricing actions are more surgical/customer/end-market-specific rather than a broad move (context for how they think growth can persist without losing demand). ⁹

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Conclusion (direct answer)

For Q1 2026, Sherwin-Williams expects market resilience to persist in the face of macro uncertainty and “demand softness,” largely because it is achieving share gains and robust new account activity rather than depending on end-market expansion. ¹³⁴

On sales growth, the company’s own Q1 results show consolidated sales up a high single-digit percentage and Paint Stores Group up mid single digits, with price mix contributing slightly more than volume and multiple subcategories (res repaint, property maintenance, protective & marine, commercial) demonstrating continued positive growth. ⁶²⁴

Finally, management explicitly indicated that areas where performance was “better-than-expected” (notably res repaint and key Performance Coatings businesses like refinish) are expected to continue. ⁷