SHW earnings

CLEVELAND, April 28, 2026 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2026. All comparisons are to the first quarter of the prior year, unless otherwise noted. SUMMARYConsolidated Net sales increased 6.8% to $5.67 billion in the quarterNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 2.4% in the quarterDiluted net income per share increased 7.5% to $2.15 per share in the quarter compared to $2.00 per share in the first quarter of 2025Adjusted diluted net income per share increased 4.4% to $2.35 per share in the quarter compared to $2

CLEVELAND, April 1, 2026 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the first quarter ended March 31, 2026, prior to market open on Tuesday, April 28, 2026. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the April 28 release. The Company will host a conference call to discuss its financia

CLEVELAND, Jan. 29, 2026 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the year and fourth quarter ended December 31, 2025. All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted. SUMMARY Consolidated Net sales increased 2.1% in the year to $23.57 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 1.7% in the yearDiluted net income per share decreased 2.7% to $10.26 per share in the year compared to $10.55 per share in the full year 2024Adjusted diluted net income per share increased 0.9% to $11.43 per share in the yea

CLEVELAND, Jan. 5, 2026 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) will issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2025, prior to market open on Thursday, January 29, 2026. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the January 29 release. The Company will host a conference call to

Selection is the result of a disciplined succession process to ensure a seamless transition focused on continued profitable growth, disciplined capital allocation and financial excellence CLEVELAND, Nov. 3, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced today that its Board of Directors has elected Benjamin E. Meisenzahl to serve as the Company's next Chief Financial Officer (CFO), effective January 1, 2026. Mr. Meisenzahl, 44, has served as Senior Vice President – Finance for the last two and a half years and brings 22 years of overall Sherwin-Williams experience to his new role. He will assume the CFO duties currently held by Allen J. Mistysyn, 57, who will assume

CLEVELAND, Oct. 28, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the third quarter ended September 30, 2025. All comparisons are to the third quarter of the prior year, unless otherwise noted. SUMMARY Consolidated Net sales increased 3.2% to $6.36 billion in the quarterNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 3.6% in the quarterDiluted net income per share increased 5.3% to $3.35 per share in the quarter compared to $3.18 per share in the third quarter of 2024Adjusted diluted net income per share increased 6.5% to $3.59 per share in the quarter compared

CLEVELAND, Sept. 30, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the third quarter ended September 30, 2025, prior to market open on Tuesday, October 28, 2025.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the October 28 release. The Company will host a conference call to discuss

CLEVELAND, July 22, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the second quarter ended June 30, 2025. All comparisons are to the second quarter of the prior year, unless otherwise noted. SUMMARY Consolidated Net sales increased 0.7% to $6.31 billion in the quarterNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 0.8% in the quarterIncreased Selling, general and administrative expenses for broader restructuring initiative related to softer demand, sooner than anticipated building related costs and heightened growth investment related to incremental competitiv

CLEVELAND, June 30, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) will issue a press release announcing its financial results for the second quarter ended June 30, 2025, prior to market open on Tuesday, July 22, 2025. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on Sherwin-Williams Press Releases, then clicking on the reference to the July 22 release. The Company will host a conference call to discuss its financial results

CLEVELAND, April 29, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2025. All comparisons are to the first quarter of the prior year, unless otherwise noted. SUMMARY Consolidated Net sales decreased 1.1% to $5.31 billion in the quarterNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 1.2% in the quarterDiluted net income per share increased 1.5% to $2.00 per share in the quarter compared to $1.97 per share in the first quarter of 2024Adjusted diluted net income per share increased 3.7% to $2.25 per share in the quarter compared t

CLEVELAND, April 1, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) will issue a press release announcing its financial results for the first quarter ended March 31, 2025, prior to market open on Tuesday, April 29, 2025.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the April 29 release. The Company will host a conference call to discuss its fina

CLEVELAND, Jan. 30, 2025 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the year and fourth quarter ended December 31, 2024. All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted. SUMMARY Consolidated Net sales increased in the year to a record $23.10 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 1.7% in the yearDiluted net income per share increased 14.1% to $10.55 per share in the year compared to $9.25 per share in the full year 2023Adjusted diluted net income per share increased 9.5% to $11.33 per share in the

CLEVELAND, Dec. 31, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) will issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2024, prior to market open on Thursday, January 30, 2025. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the January 30 release. The Company will host a conference call to

CLEVELAND, Oct. 22, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the third quarter ended September 30, 2024. All comparisons are to the third quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 0.7% in the quarter to $6.16 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 2.2% in the quarterDiluted net income per share increased 7.8% to $3.18 per share in the quarter compared to $2.95 per share in the third quarter 2023Adjusted diluted net income per share increased 5.3% to $3.37 per share in the quarter compared t

CLEVELAND, Sept. 30, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) will issue a press release announcing its financial results for the third quarter ended September 30, 2024, prior to the opening of the market on Tuesday, October 22, 2024.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the October 22 release. The Company will conduct a conferenc

CLEVELAND, July 23, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the second quarter ended June 30, 2024. All comparisons are to the second quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 0.5% in the quarter to $6.27 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 2.4% in the quarterDiluted net income per share increased 14.0% to $3.50 per share in the quarter compared to $3.07 per share in the second quarter 2023Adjusted diluted net income per share increased 12.5% to $3.70 per share in the quarter compared t

CLEVELAND, July 1, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the second quarter ended June 30, 2024, prior to market open on Tuesday, July 23, 2024. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the July 23rd release. The Company will host a conference call to discuss its financi

CLEVELAND, April 23, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2024. All comparisons are to the first quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales decreased 1.4% in the quarter to $5.37 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months were approximately flat in the quarterDiluted net income per share increased 7.1% to $1.97 per share in the quarter compared to $1.84 per share in the first quarter 2023Adjusted diluted net income per share increased 6.4% to $2.17 per share in the quarter comp

CLEVELAND, April 12, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the first quarter ended March 31, 2024, prior to market open on Tuesday, April 23, 2024.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the April 23rd release. The Company will host a conference call to discuss its fi

CLEVELAND, Jan. 25, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the year and fourth quarter ended December 31, 2023. All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 4.1% in the year to a record $23.05 billionNet sales from stores in the Paint Stores Group open more than twelve calendar months increased 6.8% in the yearDiluted net income per share increased 19.8% to $9.25 per share in the year compared to $7.72 per share in the full year 2022Adjusted diluted net income per share increased to $10.35 per share in the

CLEVELAND, Dec. 29, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2023, prior to market open on Thursday, January 25, 2024.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the January 25 release. The Company will host a conference call to

CEO selection is result of well-developed process ensuring a seamless transition focused on strength, momentum and growth CLEVELAND, Oct. 11, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) announced today that its Board of Directors has elected Heidi G. Petz to serve as the Company's next Chief Executive Officer (CEO), effective January 1, 2024. Ms. Petz, 48, who has served as President and Chief Operating Officer of Sherwin-Williams for the last two years, will assume the CEO duties currently held by Chairman and CEO John G. Morikis. Ms. Petz will continue to serve as President. After serving as CEO since 2016, Mr. Morikis will continue to serve as Executive Chairman. In addi

CLEVELAND, Sept. 29, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the third quarter ended September 30, 2023, prior to the opening of the market on Tuesday, October 24, 2023.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the October 24 release. The Company will conduct a conference

CLEVELAND, July 25, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the second quarter ended June 30, 2023. All comparisons are to the second quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 6.3% in the quarter to a record $6.24 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 9.5% in the quarterDiluted net income per share increased 38.9% to $3.07 per share in the quarter compared to $2.21 per share in the second quarter 2022Adjusted diluted net income per share increased 36.5% to $3.29 per share in the quarter compared

CLEVELAND, June 30, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the second quarter ended June 30, 2023, prior to the opening of the market on Tuesday, July 25, 2023.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the July 25 release. The Company will conduct a conference call to di

CLEVELAND, April 25, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2023. All comparisons are to the first quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 8.9% in the quarter to $5.44 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 14.2% in the quarterDiluted net income per share increased 30.5% to $1.84 per share in the quarter compared to $1.41 per share in the first quarter 2022Adjusted diluted net income per share increased 26.7% to $2.04 per share in the quarter compared to $1.61

CLEVELAND, April 3, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the first quarter ended March 31, 2023, prior to the opening of the market on Tuesday, April 25, 2023. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the April 25th release. The Company will conduct a conference call to

CLEVELAND, Jan. 26, 2023 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the year and fourth quarter ended December 31, 2022. All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 11.1% in the year to a record $22.15 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 11.7% in the yearDiluted net income per share increased to $7.72 per share in the year compared to $6.98 per share in the full year 2021Adjusted diluted net income per share increased to $8.73 per share in the year compare

CLEVELAND, Dec. 29, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2022 prior to the opening of the market on Thursday, January 26, 2023. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, operating segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the January 26th release. The Company will conduct a co

CLEVELAND, Oct. 25, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the third quarter ended September 30, 2022. All comparisons are to the third quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 17.5% in the quarter to a record $6.05 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 20.7% in the quarterDiluted net income per share increased to $2.62 per share in the quarter compared to $1.88 per share in the third quarter 2021Adjusted diluted net income per share increased 35.4% to $2.83 per share in the quarter compared t

CLEVELAND, Oct. 3, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the third quarter ending September 30, 2022, prior to the opening of the market on Tuesday, October 25, 2022.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the October 25 release. The Company will conduct a conference

CLEVELAND, July 27, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the second quarter ended June 30, 2022. All comparisons are to the second quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 9.2% in the quarter to $5.87 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 6.4% in the quarterDiluted net income per share decreased to $2.21 per share in the quarter compared to $2.42 per share in the second quarter 2021Adjusted diluted net income per share was $2.41 per share in the quarter compared to $2.65 per share in the sec

CLEVELAND, June 29, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the second quarter ending June 30, 2022, prior to the opening of the market on Wednesday, July 27, 2022. At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the July 27 release. The Company will conduct a conference call to

CLEVELAND, April 26, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2022. All comparisons are to the first quarter of the prior year, unless otherwise noted.   SUMMARY Consolidated net sales increased 7.4% in the quarter to $5.00 billionNet sales from stores in U.S. and Canada open more than twelve calendar months increased 3.8% in the quarterDiluted net income per share decreased to $1.41 per share in the quarter compared to $1.51 per share in the first quarter 2021Adjusted diluted net income per share decreased to $1.61 per share in the quarter compared to $2.06 per share

CLEVELAND, March 31, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the first quarter ended March 31, 2022, prior to the opening of the market on Tuesday, April 26, 2022.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, reportable segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the April 26 release. The Company will conduct a conference call to

CLEVELAND, Jan. 27, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the year and fourth quarter ended December 31, 2021. All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 8.6% in the year to a record $19.94 billion Net sales from stores in U.S. and Canada open more than twelve calendar months increased 6.0% in the year Raw material availability issues negatively impacted full year sales by an estimated mid-single digit percentageDiluted net income per share decreased to $6.98 per share in the year compared to $7.36 per s

CLEVELAND, Jan. 14, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced preliminary unaudited sales and earnings results for the fourth quarter and full year ended December 31, 2021. SUMMARY Fourth quarter 2021 consolidated net sales increased approximately 6.1% compared to the prior year Fourth quarter 2021 diluted net income per share expected to be approximately $1.15 per share, including acquisition-related amortization expense of approximately $0.20 per share Excluding acquisition-related amortization expense, adjusted fourth quarter 2021 diluted net i

CLEVELAND, Jan. 4, 2022 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2021 prior to the opening of the market on Thursday, January 27, 2022.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, operating segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the January 27th release. The Company will conduct a co

CLEVELAND, Oct. 26, 2021 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the third quarter ended September 30, 2021. All comparisons are to the third quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 0.5% in the quarter to $5.15 billion Net sales from stores in U.S. and Canada open more than twelve calendar months decreased 2.8% in the quarter Raw material availability issues negatively impacted quarter sales by an estimated high single digit percentageDiluted net income per share decreased to $1.88 per share in the quarter compared to $2.55 per share in the third quarter

CLEVELAND, Sept. 30, 2021 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) will issue a press release announcing its financial results for the third quarter ended September 30, 2021 prior to the opening of the market on Tuesday, October 26, 2021.  At that time, a copy of the press release and information regarding Sherwin-Williams' financial condition, operating segment results and other information will be available by clicking on this link Sherwin-Williams Press Releases, then clicking on the reference to the October 26 release. The Company will conduct a conference c

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

CLEVELAND, Sept. 8, 2021 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) today lowered its net sales guidance for the third quarter 2021 while leaving its full year 2021 net sales and diluted net income per share guidance unchanged. SUMMARY Lowers third quarter 2021 consolidated net sales guidance to be up or down by a low-single digit percentage over third quarter 2020 Full year 2021 consolidated net sales guidance remains unchanged at up a high-single to low-double digit percentage over full year 2020 Full year 2021 diluted net income per share guidance remains uncha

CLEVELAND, July 27, 2021 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the second quarter ended June 30, 2021. All comparisons are to the second quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 16.9% in the quarter to $5.38 billion Net sales from stores in U.S. and Canada open more than twelve calendar months increased 19.3% in the quarterDiluted net income per share increased to $2.42 per share in the quarter Adjusted diluted net income per share increased 11.8% in the quarter to $2.65 per shareEarnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) inc

CLEVELAND, April 27, 2021 /PRNewswire/ -- The Sherwin-Williams Company (NYSE:SHW) announced its financial results for the first quarter ended March 31, 2021. All comparisons are to the first quarter of the prior year, unless otherwise noted. SUMMARY Consolidated net sales increased 12.3% to $4.66 billion Net sales from stores in U.S. and Canada open more than twelve calendar months increased 8.2%Diluted net income per share increased to $1.51 per share Adjusted diluted net income per share increased 51.5% to $2.06 per shareAdjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased to $848.7 million, or 18.2% of sales Net oper

CLEVELAND, Jan. 28, 2021 /PRNewswire/ --  View PDF Consolidated net sales for the year increased 2.6% to a record $18.36 billion and increased 9.1% in the quarter to a record $4.49 billion Net sales from stores in U.S. and Canada open more than twelve calendar months increased 2.7% in the year and 9.3% in the quarter Full year diluted net income per share increased 33.9% to $22.08 per share compared to $16.49 per share in full year 2019 Excluding the impact of acquisition-related amortization expense, diluted net income per share increased 16.4% to $24.58 per share in the full year versus $21.12 per share in full year 2019, excluding the impact of acquisition-r