The Sherwin-Williams Company reported its financial results for the fourth quarter and full year 2024. Net sales reached a record $23.1 billion, with a 1.7% increase in same-store sales in the Paint Stores Group. Diluted net income per share rose 14.1% to $10.55, while adjusted diluted net income per share increased 9.5% to $11.33. The company generated $3.15 billion in net operating cash, representing 13.7% of net sales, and adjusted EBITDA increased 6.0% to $4.49 billion.

For the fourth quarter, net sales increased slightly to $5.3 billion, and diluted net income per share grew 36.7% to $1.90, with adjusted diluted net income per share rising 15.5% to $2.09. The Paint Stores Group drove overall sales growth, offset by declines in the Consumer Brands and Performance Coatings Groups. Income before taxes rose 29.9%, benefiting from lower environmental provisions and the absence of Argentine peso devaluation losses recorded in the prior year.

Segment results showed a 3.4% increase in net sales for the Paint Stores Group, driven by selling price increases and volume growth in residential repaint and new residential sales. The Consumer Brands Group saw a 4.3% decline in net sales due to unfavorable foreign currency translation, but segment profit improved due to cost control measures and the absence of prior-year devaluation losses. The Performance Coatings Group experienced a 1.6% decline in net sales, primarily due to lower selling prices and unfavorable foreign currency effects, though segment profit increased slightly.

Sherwin-Williams returned $2.46 billion to shareholders through dividends and share repurchases in 2024. The company issued 2025 guidance with expected net sales growth in the low-single-digit range and adjusted diluted net income per share projected between $11.65 and $12.05.

CEO Heidi G. Petz noted that demand remains uncertain in several markets but highlighted strong growth opportunities, particularly in architectural coatings and industrial segments. The company plans to focus on cost control, supply chain efficiency, and sustainability initiatives to drive profitable growth.