| Unsubscribe |
I'm Garrett Goggin, a 20+ year veteran gold analyst, in the last 3 years alone I've spotted Montage Gold before it went up 2,567%, G2 Goldfields before it went up 1,298%, Reunion Gold before it went up 716% and Highlander Silver before it went up 741%.
And I've just released a new research report on a unique high-yielding gold security.
It's backed by, what I believe, is the world's best gold mine around today.
You get the best of both worlds: a security with a yield that pays you now - plus long term upside on a world class gold mine.
Best,
Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio
Sherwin-Williams Remains Evergreen in a Frozen Housing Market
Author: Chris Markoch. Publication Date: 10/28/2026.
Key Points
- Sherwin-Williams shares fell about 2.6% after third-quarter 2026 revenue beat estimates but adjusted earnings per share missed expectations.
- The company raised its quarterly dividend to 80 cents per share, extending its streak to 48 consecutive annual increases and nearing Dividend King status.
- Despite a frozen housing market that hurt peers like Whirlpool, Sherwin-Williams grew sales across all segments, led by resilient residential repaint and commercial demand.
- Special Report: The Untouched Energy Source Behind a New Eight Year Tax Break
Sherwin-Williams Co. (NYSE: SHW) stock fell about 2.8% on Oct. 27, closing near $326. The decline followed the paint maker's third-quarter 2026 earnings report. The headline numbers were mixed: revenue topped expectations, but adjusted earnings per share (EPS) came in light.
The timing didn't help. One day earlier, Whirlpool Corp. (NYSE: WHR) delivered clear evidence that the housing market remains frozen. The appliance maker swung to an adjusted loss of 21 cents per share, while revenue fell 8.8% year over year to $3.68 billion. Whirlpool also cut its full-year guidance for the third time this year and now expects an adjusted loss of about $1.30 per share.
The best investor alive just called this market out (Ad)
Warren Buffett told CNBC's Becky Quick it's tough to find values when everybody is preferring gambling, a blunt line aimed at the broader market, not just meme stocks.
Weiss Ratings runs 1.2 billion calculations a day across all 15,000 publicly traded U.S. stocks, plus crypto and ETFs. The system flagged Nvidia as a Buy back in 2011, before its nearly 30,000% run, and warned on banks ahead of the 2008 crisis.
Three bonus reports now name stocks to buy, stocks to avoid, and crypto picks worth watching.
Click here to see the three bonus reports nowThat report set a sour tone for anything tied to housing. Some of SHW's decline appears to be guilt by association. However, investors who look past the headline earnings miss will find a company still growing in a market that isn't.
Paint is one of the few home-related products that never goes out of season. Homeowners can delay a kitchen remodel or a new refrigerator, but a fresh coat of paint is a far cheaper way to refresh a space. That evergreen demand showed up in Sherwin-Williams' results across residential and commercial customers alike.
A Revenue Beat With a Margin Problem
Net sales rose 7.9% to $6.86 billion, ahead of the roughly $6.79 billion analysts expected. All three reportable segments grew at or above company guidance. Price and mix added a mid-single-digit percentage, while acquisitions, volume and currency each added a low-single-digit percentage.
The bottom line was less impressive. Adjusted EPS rose 1.1% to $3.63, below the consensus estimate of about $3.69. Gross margin slipped 140 basis points to 47.8%. Management cited higher raw material and supply chain costs. It also pointed to dilution from Suvinil, the Brazilian paint brand acquired in October 2025. Excluding Suvinil, year-to-date gross margin is flat.
That gap explains the caution. Sherwin-Williams is raising prices to offset inflation, including an 8% increase effective Sept. 1. However, costs are still squeezing margins. The company expects raw material costs to rise by a mid-single-digit percentage for the full year.
Paint Demand Holds Up Where Housing Doesn't
The Paint Stores Group (PSG), the company's largest segment, grew sales 4.7% to $4.02 billion. Same-store sales rose 3.9%, and volume grew by a low-single-digit percentage. That matters in an environment management described as having muted underlying volumes.
Residential repaint grew by a mid-single-digit percentage, marking the 10th of the last 11 quarters with at least mid-single-digit growth. This is the evergreen story in action: with housing turnover stalled, owners who stay put are still refreshing their homes.
Commercial sales grew by a high-single-digit percentage on new business wins, despite soft multifamily completions. Protective and marine sales jumped by a mid-teens percentage. Management credited AI infrastructure, energy and water treatment projects. New residential also outperformed a high-single-digit decline in single-family completions.
The weak spots were telling. PSG's DIY sales fell by a low-single-digit percentage. In the Consumer Brands Group, North American DIY demand remained muted. Property maintenance also remains choppy, with apartment capital projects largely delayed.
A Dividend Story Nearing Royalty
Sherwin-Williams is also a dividend growth story. The company raised its quarterly payout to 80 cents per share in February, extending its streak of annual increases to 48 consecutive years. Another raise in early 2027 would make 49, leaving SHW one year shy of Dividend King status.
The payout is well covered. The $3.20 annual dividend is roughly 27% of the midpoint of 2026 adjusted EPS guidance. The yield is about 1%, making this a dividend growth play rather than an income play. For that kind of investor, the unbroken streak matters more than the size of any single raise.
The contrast with Whirlpool is stark. The appliance maker suspended its dividend in May 2026 to prioritize paying down debt. Both companies face the same frozen housing market. Only one is still raising its payout.
Buybacks round out the capital return story. Sherwin-Williams returned $749 million to shareholders in the quarter. Through the first nine months, that total reached nearly $3 billion.
Guidance Holds, But Valuation Is the Hurdle
Management narrowed full-year adjusted EPS guidance to $11.85 to $12.15. The $12 midpoint is unchanged from the prior range. CEO Heidi Petz warned that leading indicators point to muted demand into 2027.
Valuation is the bigger question. At roughly $326, SHW trades near 27 times the midpoint of 2026 guidance. That is a premium to the S&P 500 and the specialty chemicals sector, but below the stock's own historical forward multiple.
The chart reflects that tension. Shares have traded roughly between $290 and $380 since early 2025. The stock now sits below its 50-week moving average, and the MACD remains in negative territory. Buyers may need a catalyst before paying up again.
Get Paid While Waiting on a Housing Recovery
Sherwin-Williams didn't deliver a clean quarter. Margin pressure is real and may persist while raw material costs rise. Still, the company grew sales in every segment while the broader housing market contracted. For long-term investors, a pullback driven partly by Whirlpool's bad news may be a chance to own a dividend compounder at a discount to its own history.
Newmont’s Record Quarter Shows Why Gold’s Floor Is the Real Story
Author: Chris Markoch. Publication Date: 10/25/2026.
Key Points
- Newmont reported record third-quarter adjusted earnings of $2.20 per diluted share, even as gold prices pulled back from December 2025 highs.
- Gold has found a resilient floor near $4,000 an ounce, which still leaves Newmont a margin of roughly $2,500 per ounce under its cost guidance.
- Newmont generated $1.9 billion in free cash flow, funded buybacks and dividends, and maintains a strong balance sheet with $8.8 billion in cash.
- Special Report: The Untouched Energy Source Behind a New Eight Year Tax Break
Newmont Corp. (NYSE: NEM) reported record adjusted earnings for the third quarter on Oct. 22. However, the more important story for gold investors may be the price of gold itself.
The yellow metal has pulled back considerably from its December 2025 levels. Spot gold has traded between roughly $4,100 and $4,200 per troy ounce in October, below the $4,500 assumption built into Newmont’s 2026 guidance.
The best investor alive just called this market out (Ad)
Warren Buffett told CNBC's Becky Quick it's tough to find values when everybody is preferring gambling, a blunt line aimed at the broader market, not just meme stocks.
Weiss Ratings runs 1.2 billion calculations a day across all 15,000 publicly traded U.S. stocks, plus crypto and ETFs. The system flagged Nvidia as a Buy back in 2011, before its nearly 30,000% run, and warned on banks ahead of the 2008 crisis.
Three bonus reports now name stocks to buy, stocks to avoid, and crypto picks worth watching.
Click here to see the three bonus reports nowInvestors may be asking why gold is down. The better question may be why it isn’t down more. Interest rates are rising, and the dollar should, in theory, be getting stronger. Higher oil prices are also squeezing miners’ costs. Each of these is a traditional headwind for gold.
Yet gold appears to have found a solid floor near $4,000 an ounce.
That resilience is telling. It suggests buyers are stepping in on dips rather than heading for the exits.
For a low-cost producer like Newmont, a durable floor matters more than a headline-grabbing peak. Even at $4,000 gold, Newmont’s full-year cost guidance leaves a margin of nearly $2,500 an ounce.
Here’s what the world’s largest gold miner reported and why the floor matters for NEM stock.
Record Q3 Earnings Despite a Lower Realized Gold Price
Newmont reported adjusted net income of $2.3 billion, or $2.20 per diluted share, a third-quarter record. GAAP earnings came in at $2.35 per share. Revenue rose 15% year-over-year to $6.36 billion, and adjusted EBITDA reached $4 billion.
The average realized gold price was $4,317 per ounce, down $97 from the second quarter but up 22% from a year ago.
The company produced 1.3 million attributable gold ounces, plus 11 million ounces of silver and 23,000 tonnes of copper. Newmont reaffirmed its full-year production guidance of 5.3 million ounces and expects the fourth quarter to be its strongest of the year.
Costs Are Improving, But Watch the Fourth Quarter
All-in sustaining costs (AISC) were $1,454 per ounce, down 10% from the second quarter. Newmont also improved its full-year AISC guidance to $1,520 per ounce. At the third quarter’s realized gold price and AISC, that implies a margin of roughly $2,860 per ounce.
There’s a catch. Newmont guided to fourth-quarter AISC of $1,900 per ounce, driven by higher sustaining capital, lower silver output at Peñasquito and higher oil prices. Management also expects unit costs to trend higher in 2027. That may help explain why NEM shares fell about 4% in Friday’s session.
Free Cash Flow Funds Buybacks and Dividends
Newmont generated $1.9 billion in free cash flow during the quarter and has returned $1.9 billion to shareholders since its last earnings call. That includes $1.6 billion in buybacks, with $2.8 billion remaining on its $6 billion authorization.
The company has retired more than 115 million shares since February 2024, or about 10% of its share count. Newmont also declared a quarterly dividend of 26 cents. Its framework keeps total dividends near $1.1 billion a year, meaning per-share payouts rise as the share count falls.
The balance sheet remains strong. Newmont ended the quarter with $8.8 billion in cash and a $3.2 billion net cash position. That’s before a planned $1.95 billion payment to Barrick (NYSE: B) under the amended Nevada Gold Mines agreement.
Red Chris Signals Confidence in Gold’s Floor
Newmont also updated investors on its Red Chris Block Cave project in British Columbia. Development capital is estimated at $4.2 billion to $4.8 billion. A final investment decision is expected in early 2027, with commercial production targeted for 2033.
An important detail is the project’s stress test. Newmont says it delivers a double-digit return across scenarios that include $3,600 gold, roughly $500 below recent spot prices. Management is weighing a multibillion-dollar investment over the next decade based on a price well below today’s floor.
Mining Stocks Offer Gold Exposure Without Custody Concerns
For investors seeking gold exposure, physical bullion comes with practical hurdles. Owners must arrange secure storage and insurance, and eventually have the gold authenticated when they sell. Dealer premiums and bid-ask spreads can also eat into returns. Gold ETFs solve some of those problems, but they hold metal without generating cash.
A miner like Newmont sits in a brokerage account like any other stock. It also offers operating leverage. Newmont estimates that every $100 move in gold changes its revenue and costs by about $505 million. And unlike a gold bar, it pays a dividend.
That leverage cuts both ways. Miners carry operating risks that bullion doesn’t. Newmont dealt with a seismic event at Cadia this year and is monitoring drought conditions at Lihir.
Gold’s $4,000 Floor Could Support NEM Shares
Newmont’s quarter shows a business generating strong cash at gold prices well below this year’s highs. Technically, NEM is testing its 200-day simple moving average near $112.45. If gold’s $4,000 floor holds, that level could prove to be a floor for the stock as well.
This email message is a sponsored email sent on behalf of Golden Portfolio, a third-party advertiser of The Early Bird and MarketBeat.
If you have questions about your newsletter, feel free to email our support team, based in South Dakota, at contact@marketbeat.com.
If you no longer wish to receive email from The Early Bird, you can unsubscribe.
© 2006-2026 MarketBeat Media, LLC.
345 N Reid Place, Suite 620, Sioux Falls, S.D. 57103. USA..
