The earnings call reflects a mixed performance with several notable achievements in digital growth, Pro customer engagement, and product innovation. However, these positives are overshadowed by a decline in sales, earnings, and operating margins, as well as challenges in big-ticket purchases. The commitment to veterans and strong digital engagement are positive, but the financial metrics indicate significant headwinds.

Company Guidance

During the Home Depot's third-quarter 2023 earnings call, the company reported sales of $37.7 billion, representing a 3% decline compared to the same period last year. Comparable sales also fell by 3.1%, with U.S. stores experiencing a 3.5% decline in comps. The diluted earnings per share was reported at $3.81, down from $4.24 in the previous year. The company highlighted the impact of deflation in core commodities like lumber and copper, and storm-related overlaps, which affected results for the quarter. The Pro customer segment outperformed the DIY segment, although Pro backlogs were noted to be lower than the previous year. The company narrowed its guidance for fiscal 2023, now expecting sales and comp sales to decline between 3% and 4%, with operating margins targeted between 14.2% and 14.1%. Diluted earnings per share are anticipated to decline by 9% to 11% compared to fiscal 2022. Additionally, the company reported operating expenses as a percent of sales increased by 120 basis points to 19.4%, and gross margin decreased by 20 basis points to 33.8%. Home Depot also announced it had invested approximately $670 million back into its business in capital expenditures during the quarter and returned $1.5 billion to shareholders in the form of share repurchases.

Pro Customer Outperformance

Pro customers outperformed DIY customers, although the performance gap was the narrowest in some time. Pro backlogs are lower than a year ago but still elevated compared to historical norms.

Digital Platform Growth

Total company online sales increased approximately 5% compared to the third quarter of last year, with nearly half of online orders fulfilled through stores.

Innovative Product Engagement

Strong engagement with new and innovative products drove average ticket growth, excluding deflation impacts, with particular strength in Pro-heavy categories like roofing and insulation.

Record Halloween Sales

2023 was another record sales year for The Home Depot's Halloween program, both in-store and online.

Veterans Initiative

The Home Depot Foundation surpassed its initial goal of $500 million invested in veterans causes, increasing the total commitment to $750 million by 2030.

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Home Depot (HD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2025	2024 (Q4)	3.00 / -	2.82	―	―	―
Nov 12, 2024	2024 (Q3)	3.65 / 3.78	3.81	-0.79% (-0.03)	―
Aug 13, 2024	2024 (Q2)	4.53 / 4.67	4.65	0.43% (+0.02)	―
May 14, 2024	2024 (Q1)	3.60 / 3.63	3.82	-4.97% (-0.19)	―
Feb 20, 2024	2023 (Q4)	2.77 / 2.82	3.3	-14.55% (-0.48)	―
Nov 14, 2023	2023 (Q3)	3.75 / 3.81	4.24	-10.14% (-0.43)	―
Aug 15, 2023	2023 (Q2)	4.45 / 4.65	5.05	-7.92% (-0.40)	―
May 16, 2023	2023 (Q1)	3.80 / 3.82	4.09	-6.60% (-0.27)	―
Feb 21, 2023	2022 (Q4)	3.28 / 3.30	3.21	2.80% (+0.09)	―
Nov 15, 2022	2022 (Q3)	4.12 / 4.24	3.92	8.16% (+0.32)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$408.29	$403.08	-1.28%
Aug 13, 2024	$343.72	$347.96	+1.23%
May 14, 2024	$336.56	$336.11	-0.13%
Feb 20, 2024	$355.55	$355.76	+0.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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