Sherwin-Williams (NYSE: SHW) reported Q4 EPS of $5.09, $0.24 better than the analyst estimate of $4.85. Revenue for the quarter came in at $4.49 billion versus the consensus estimate of $4.34 billion.

Commenting on the financial results, John G. Morikis, Chairman and Chief Executive Officer, said, "We finished the year strong in the fourth quarter driven by 9% U.S. and Canada same store sales growth, continued North American DIY growth and growth in all industrial end markets. My deepest thanks goes to our 61,000 employees who delivered outstanding results in what was an extremely challenging and unpredictable year. For the full year, we delivered record sales, EBITDA and EPS, and we generated over $3.4 billion in net operating cash, which enabled us to return over $2.9 billion to shareholders via dividends and share repurchases. Each of our segments delivered improved segment profit and margin in 2020.

"In The Americas Group, our DIY and residential repaint businesses delivered strong double-digit growth in the quarter and new residential grew by high-single-digits. In our Consumer Brands Group, strong North American DIY was partially offset by weak results in our Asia business. In Performance Coatings Group, our coil, industrial wood and packaging businesses grew double-digits, while our general industrial business saw strong recovery in the quarter and grew high-single-digits. Our automotive business delivered more modest growth, as miles driven remain depressed.

GUIDANCE:

Sherwin-Williams sees FY2021 EPS of $26.40-$27.20, versus the consensus of $26.73.

"Moving to our 2021 outlook, we expect North American new residential and residential repaint demand will remain strong. Our commercial end markets will likely remain choppy, and our DIY business will face challenging comparisons. Our industrial businesses have never been better positioned, and we anticipate industrial demand will continue to improve. We'll continue to target growing at a rate that outpaces the market through customer driven solutions, ongoing growth investments and multiple growth opportunities.

"In the first quarter of 2021, we anticipate our net sales will increase high single digits compared to the first quarter of 2020. For the full year 2021, we expect net sales to increase mid-to-high single digits compared to full year 2020. With annual sales at that level, we anticipate diluted net income per share for 2021 will be in the range of $23.87 to $24.67 per share compared to $22.08 per share earned in 2020. We expect our full year 2021 adjusted diluted net income per share guidance to be in the range of $26.40 to $27.20 per share, excluding $2.53 of acquisition-related amortization expense, compared to $24.58 per share for the full year 2020 on a comparable basis. We expect our 2021 effective tax rate to be in the low twenty percent range."

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