The Sherwin-Williams Company has released its financial results for the year and fourth quarter of 2024. The company reported a slight increase in net sales for the full year, reaching a record $23.10 billion. This growth was driven by the Paint Stores Group, which saw above-market growth. The company also saw a 9.5% increase in adjusted diluted earnings per share, reaching a record $11.33 per share.

In the fourth quarter, Sherwin-Williams reported a 0.9% increase in net sales, reaching $5.30 billion. The company also saw a 29.9% increase in income before income taxes, reaching $615.6 million. This growth was driven by higher sales in the Paint Stores Group, as well as lower provisions for environmental matters and higher other income.

Sherwin-Williams CEO Heidi G. Petz highlighted the company’s strong performance in the fourth quarter, despite continued demand challenges in many of its end markets. Petz also noted the company’s success in its architectural business, with residential repaint significantly outgrowing the market.

Looking ahead to 2025, Sherwin-Williams is projecting net sales to be up or down by a low-single digit percentage in the first quarter, and up by a low-single digit percentage for the full year. The company is also expecting adjusted diluted net income per share to be in the range of $11.65 to $12.05.

For more details, you can view the full results here or view the company's slideshow here.