The Home Depot Inc

Latest Results (17.12.2024):

Sales Growth

The Home Depot Inc. reported sales of $40.2 billion for the third quarter of fiscal 2024, marking an increase of 6.6% compared to the same quarter in fiscal 2023. Despite this growth, comparable sales for the quarter decreased by 1.3%, with a 1.2% decline in the U.S. market.

Operating Income

For the third quarter of fiscal 2024, The Home Depot Inc. recorded an operating income of $5.4 billion, maintaining the same level as the previous year. The operating margin was 13.5%, slightly down from 14.3% in the third quarter of fiscal 2023. Adjusted operating income was $5.6 billion, with an adjusted operating margin of 13.8%.

Net Earnings

The Home Depot Inc. reported net earnings of $3.6 billion for the third quarter of fiscal 2024, translating to $3.67 per diluted share. This is a decrease from the net earnings of $3.8 billion, or $3.81 per diluted share, reported in the same period of fiscal 2023. Adjusted diluted earnings per share were $3.78, compared to $3.85 in the previous year.

Fiscal 2024 Guidance

The Home Depot Inc. updated its fiscal 2024 guidance, projecting total sales to increase by approximately 4%, including the impact of a 53rd week. Comparable sales are expected to decline by about 2.5% for the 52-week period compared to fiscal 2023. The company anticipates opening approximately 12 new stores and achieving a gross margin of around 33.5%.

Dividends and Earnings Outlook

The Home Depot Inc. expects its 53-week diluted earnings per share to decline by approximately 2% from $15.11 in fiscal 2023, with the 53rd week contributing about $0.30 to diluted earnings per share. The adjusted diluted earnings per share for the 53-week period is projected to decline by about 1% from $15.25 in fiscal 2023, with a similar contribution from the 53rd week.