Home Depot ( (HD) ) has released its Q4 earnings. Here is a breakdown of the information Home Depot presented to its investors.
Home Depot, the world’s largest home improvement retailer, operates in the retail sector, providing a wide range of building materials, home improvement products, and services. The company is known for its extensive network of retail stores across the United States, Canada, and Mexico.
In its latest earnings report, Home Depot announced a 14.1% increase in sales for the fourth quarter of fiscal 2024, reaching $39.7 billion. The company also reported a 7% rise in net earnings for the quarter, amounting to $3.0 billion, or $3.02 per diluted share. Additionally, Home Depot increased its quarterly dividend by 2.2% to $2.30 per share.
Key financial highlights include a 4.5% increase in annual sales to $159.5 billion, despite a 1.8% decrease in comparable sales for the year. The company’s net earnings for fiscal 2024 were $14.8 billion, slightly down from the previous year. Home Depot also announced plans for 13 new store openings in fiscal 2025 and projected a 2.8% growth in total sales.
Home Depot’s management remains optimistic about the future, with strategic investments aimed at sustaining growth despite challenging macroeconomic conditions. The company expects a modest decline in diluted earnings per share for fiscal 2025 but anticipates continued momentum in sales growth and store expansion.
Looking ahead, Home Depot is focused on leveraging its strategic initiatives to navigate economic uncertainties and maintain its leadership in the home improvement sector.