Summary
The Sherwin-Williams Company reported record net sales of $23.099 billion for the year ended December 31, 2024, a slight increase of 0.2% from the prior year. Despite facing continued macroeconomic challenges, the company demonstrated resilience with a 14.1% increase in diluted net income per share, reaching $10.55. This growth was supported by a 4.1% increase in gross profit, driven by higher sales volumes in the Paint Stores Group and moderating raw material costs. The company also generated strong net operating cash flow of $3.153 billion, enabling significant investments in its operations, strategic acquisitions, and substantial returns to shareholders through dividends and share repurchases. Looking ahead to 2025, Sherwin-Williams anticipates continued economic pressures impacting consumer behavior, particularly in North America and Europe. However, the company remains confident in its "Success by Design" strategy, focusing on talent development, digitization, supply chain responsiveness, and sustainability to drive above-market growth opportunities. Key initiatives include opening 80-100 new stores and managing inflationary pressures through simplification efforts. The company also announced a significant acquisition of BASF's Brazilian decorative paints business for $1.15 billion, subject to regulatory approval, signaling continued strategic expansion.
Financial Highlights
52 data points| Revenue | $23.10B |
| Cost of Revenue | $11.90B |
| Gross Profit | $11.20B |
| SG&A Expenses | $7.42B |
| Interest Expense | $354.70M |
| Net Income | $2.68B |
| EPS (Basic) | $10.68 |
| EPS (Diluted) | $10.55 |
| Shares Outstanding (Basic) | 251.00M |
| Shares Outstanding (Diluted) | 254.10M |
Key Highlights
- 1Record consolidated net sales of $23.099 billion for the year, a 0.2% increase.
- 2Diluted net income per share increased by 14.1% to $10.55.
- 3Gross profit increased by 4.1% to $11.195 billion, with gross profit margin improving to 48.5% from 46.7%.
- 4Generated $3.153 billion in net operating cash flow, demonstrating strong cash generation capabilities.
- 5Invested $1.014 billion in capital expenditures and returned $2.462 billion to shareholders via dividends and share repurchases.
- 6Announced definitive agreement to acquire BASF's Brazilian decorative paints business for $1.15 billion, subject to closing conditions.
- 7Anticipates opening 80-100 new stores in the U.S. and Canada in 2025.