Sherwin-Williams Reports 2022 Year-End & Fourth Quarter Financial Results

The Sherwin-Williams Company announced its financial results for the year and fourth quarter ended December 31, 2022.

All comparisons are to the full year and fourth quarter of the prior year, unless otherwise noted.

Summary

• Consolidated net sales increased 11.1% in the year to a record $22.15 billion
• Net sales from stores in U.S. and Canada open more than twelve calendar months increased 11.7% in the year
• Diluted net income per share increased to $7.72 per share in the year compared to $6.98 per share in the full year 2021
• Adjusted diluted net income per share increased to $8.73 per share in the year compared to $8.15 per share in the full year 2021
• Fourth quarter consolidated net sales increased 9.8%; diluted net income per share was $1.48 per share and adjusted diluted net income per share increased 41% in the quarter to $1.89 per share
• Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) increased 10.4% in the year to $3.61 billion or 16.3% of consolidated net sales
• Full year 2023 diluted net income per share guidance in the range of $6.79 to $7.59 per share, including acquisition-related amortization expense of $0.81 per share and restructuring expense of $0.25 to $0.35 per share

See the detailed results here.