CLEVELAND, Ohio (WJW) – Sherwin-Williams reports persistent supply problems following Hurricane Ida.
Hurricane Ida hit Louisiana on August 29 and caused severe damage and flooding to the northeastern Gulf Coast for several days.
“Our suppliers are now reporting that the impacts of Hurricane Ida are more severe and will last longer than originally thought,” President, President and CEO John G. Morikis said in a press release over the third quarter and the full year. 2021.
Morikis says demand for their product remains, however.
Sales of home improvement supplies have been on the rise since the pandemic began in March 2020, causing prices to fluctuate in several areas of construction.
“The persistent and industry-wide constraints on raw material availability and price inflation that we previously reported have worsened, and we do not expect supply to improve or decline. lower commodity prices in the fourth quarter as expected, ”Morikis said.
The company lowered its expectations in the third quarter and said it does not expect the situation to improve in the 4e quarter due to price inflation.
Suggest a correction