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Financial Performance - Net sales for Q2 2023 were $42.916 billion, a decrease of 2% compared to $43.792 billion in Q2 2022[9] - Gross profit for Q2 2023 was $14.157 billion, down from $14.483 billion in the same quarter last year, representing a decline of 2.2%[9] - Operating income for Q2 2023 was $6.589 billion, a decrease of 8.6% from $7.210 billion in Q2 2022[9] - Net earnings for Q2 2023 were $4.659 billion, down 9.9% from $5.173 billion in Q2 2022[9] - Basic earnings per share for Q2 2023 were $4.66, compared to $5.06 in Q2 2022, reflecting a decline of 7.9%[9] - Net earnings for the six months ended July 30, 2023, were $8,532 million, a decrease of 9.2% compared to $9,404 million for the same period in 2022[14] - Total net sales for the six months ended July 30, 2023, were $80,173 million, down 3.1% from $82,700 million for the same period in 2022[22] - Net sales for Q2 2023 were $42.9 billion, a decrease of 2.0% from $43.8 billion in Q2 2022[57] - Net earnings for Q2 2023 were $4.7 billion, or $4.65 per diluted share, compared to $5.2 billion, or $5.05 per diluted share in Q2 2022[55] - Net sales for the first six months of fiscal 2023 were $80.2 billion, a decrease of 3.1% from $82.7 billion in the same period of fiscal 2022[67] Assets and Liabilities - Total current assets as of July 30, 2023, were $31.830 billion, a slight decrease from $32.471 billion as of January 29, 2023[8] - Total liabilities increased to $75.052 billion as of July 30, 2023, compared to $74.883 billion on January 29, 2023[8] - Merchandise inventories decreased to $23.265 billion from $24.886 billion, indicating a reduction of 6.5%[8] - The company reported a total stockholders' equity of $1.335 billion as of July 30, 2023, down from $1.562 billion on January 29, 2023[8] - Net property and equipment amounted to $27.7 billion as of July 30, 2023, an increase from $26.6 billion as of January 29, 2023[28] - Total lease liabilities were $10,697 million as of July 30, 2023, compared to $10,456 million as of January 29, 2023[30] Cash Flow and Dividends - Cash dividends paid increased to $4,215 million for the six months ended July 30, 2023, compared to $3,910 million for the same period in 2022, reflecting a 7.8% increase[14] - Cash flow from operations for the first six months of fiscal 2023 was $12.2 billion, used for $5.0 billion in share repurchases and $4.2 billion in dividends[55] - Cash and cash equivalents were $2.814 billion as of July 30, 2023, up from $2.757 billion on January 29, 2023[8] - Cash dividends per share increased to $2.09 for the three months ended July 30, 2023, compared to $1.90 for the same period in 2022[38] - A 10% increase in the quarterly cash dividend was announced in February 2023, raising it from $1.90 to $2.09 per share, with $4.2 billion paid in cash dividends during the first six months of fiscal 2023[78] Share Repurchase and Capital Expenditures - The company repurchased $4,954 million of common stock during the six months ended July 30, 2023, compared to $3,962 million in the same period of 2022, reflecting a 25.0% increase[14] - The company approved a new $15.0 billion share repurchase authorization in August 2023, replacing the previous authorization[39] - Capital expenditures for the six months ended July 30, 2023, were $1,697 million, compared to $1,447 million for the same period in 2022, marking an increase of 17.3%[14] - The company plans to invest approximately $3 billion in capital expenditures for fiscal 2023, representing about 2% of net sales annually[78] Sales Performance - Comparable sales decreased by 2.0% in Q2 2023, while comparable customer transactions also fell by 2.0%[57] - Online sales accounted for 14.4% of net sales in Q2 2023, increasing by 1.2% compared to Q2 2022[61] - Total comparable sales decreased by 2.0% in Q2 2023, driven by a 2.0% decline in comparable customer transactions, slightly offset by a 0.1% increase in comparable average ticket[61] - Net sales in the U.S. for the three months ended July 30, 2023, were $39,191 million, a decrease of 2.1% from $40,044 million for the same period in 2022[22] - Net sales outside the U.S. for the three months ended July 30, 2023, were $3,725 million, a decrease of 0.6% from $3,748 million for the same period in 2022[22] Operational Metrics - The inventory turnover ratio was 4.4 times at the end of Q2 2023, compared to 4.5 times at the end of Q2 2022[55] - Total operating expenses for Q2 2023 were $7.6 billion, representing 17.6% of net sales, compared to $7.3 billion or 16.6% in Q2 2022[58] - SG&A expenses increased by 3.9% to $6.9 billion in Q2 2023, representing 16.1% of net sales[63] - The company reported a return on invested capital (ROIC) of 41.5% for the trailing twelve-month period, down from 45.6% in the previous year[55] - Gross profit margin for Q2 2023 was 33.0%, slightly down from 33.1% in Q2 2022[58] - Gross profit for Q2 2023 decreased by 2.3% to $14.2 billion, with a gross profit margin of 33.0%[62] Market Risks - There have been no material changes to the company's exposure to market risks, including interest rate fluctuations and foreign currency exchange rate risks[86]

The Home Depot, Inc. (NYSE:HD) Q2 2023 Earnings Conference Call August 15, 2023 9:00 AM ET Company Participants Isabel Janci - Investor Relations Ted Decker - Chair, President and Chief Executive Officer Billy Bastek - Executive Vice President, Merchandising Ann-Marie Campbell - Executive Vice President, U.S. Stores and International Operations Richard McPhail - Executive Vice President and Chief Financial Officer Hector Padilla - Executive Vice President, Outside Sales & Service Conference Call Participant ...

Financial Data and Key Metrics Changes - Over the past three years, the company delivered over $47 billion in revenue growth and approximately $6 billion in net earnings growth, translating to diluted earnings per share growth of over 60% [9] - The total addressable market in North America is estimated to be greater than $950 billion, with the company holding approximately 17% market share [10] Business Line Data and Key Metrics Changes - The company serves a strong core customer base in a highly fragmented home improvement market, with significant opportunities for growth [6] - The interconnected shopping experience has been enhanced through investments in digital tools and store capabilities, leading to increased sales and improved customer satisfaction [21][25] Market Data and Key Metrics Changes - The customer base has higher than average incomes, with 80% of them owning their homes, compared to a national home ownership rate of 66% [11] - Home price appreciation and the aging housing stock, with over 50% of homes being over 40 years old, are expected to support future home improvement demand [12] Company Strategy and Development Direction - The company aims to expand its leadership position by leveraging competitive advantages and operational excellence [6] - Investments in differentiated capabilities are expected to drive growth with both consumer and professional customers [10] - The company plans to open approximately 80 new stores over the next five years to adapt to evolving customer expectations [15] Management's Comments on Operating Environment and Future Outlook - The management acknowledges a period of moderation following unprecedented growth but remains optimistic about the medium to long-term support for the home improvement market [11] - The company is committed to maintaining its culture and values while focusing on sustainability and community engagement [16][26] Other Important Information - The company has invested billions in wage and benefits enhancements for associates, leading to improved staffing levels and customer service metrics [25] - The Home Depot Foundation and Team Depot are involved in community support initiatives, including disaster relief and trade training programs [27] Q&A Session Summary Question: What are the growth opportunities in the home improvement market? - The company sees billions of dollars in growth opportunities with both consumers and professionals, focusing on removing friction in the shopping experience [13][14] Question: How is the company addressing customer experience? - The management emphasized the importance of enhancing the customer experience through technology and improved service delivery, resulting in significant improvements in customer satisfaction metrics [62]

Financial Performance - Net sales for Q1 2023 were $37,257 million, a decrease of 4.2% compared to $38,908 million in Q1 2022[10] - Gross profit for Q1 2023 was $12,557 million, down from $13,145 million in the same period last year, reflecting a gross margin of 33.7%[10] - Operating income decreased to $5,551 million in Q1 2023, compared to $5,929 million in Q1 2022, indicating a decline of 6.4%[10] - Net earnings for Q1 2023 were $3,873 million, a decrease of 8.5% from $4,231 million in Q1 2022[10] - Basic earnings per share for Q1 2023 were $3.83, down from $4.11 in Q1 2022, representing a decline of 6.8%[10] - Comparable sales decreased by 4.5%, with a 5.0% decline in comparable customer transactions, partially offset by a 0.2% increase in comparable average ticket[65] - Gross profit decreased by 4.5% to $12.6 billion, with a gross profit margin of 33.7% compared to 33.8% in Q1 2022[66] - Operating income for Q1 2023 was $5.6 billion, representing 14.9% of net sales, down from 15.2% in Q1 2022[62] - Net earnings for the three months ended April 30, 2023, were $3,873 million, a decrease of 8.5% compared to $4,231 million for the same period in 2022[17] Assets and Liabilities - Total current assets as of April 30, 2023, were $32,423 million, slightly down from $32,471 million at the end of January 29, 2023[9] - Total liabilities increased to $76,024 million as of April 30, 2023, compared to $74,883 million at the end of January 29, 2023[9] - Cash and cash equivalents decreased significantly to $1,260 million from $2,757 million at the end of January 29, 2023[9] - Merchandise inventories rose to $25,371 million as of April 30, 2023, compared to $24,886 million at the end of January 29, 2023, indicating a 2.0% increase[9] - The company reported a total stockholders' equity of $362 million as of April 30, 2023, down from $1,562 million at the end of January 29, 2023[9] - Total stockholders' equity increased to $362 million at the end of the period, compared to a deficit of $1,709 million a year earlier[15] Cash Flow and Investments - Net cash provided by operating activities was $5,614 million, up 48.3% from $3,789 million in the prior year[17] - Capital expenditures for the three months ended April 30, 2023, were $905 million, compared to $704 million in the same period last year[17] - Cash flow from operations was $5.6 billion, funding $2.9 billion in share repurchases and $2.1 billion in dividends[59] - Cash used in investing activities rose by $202 million in Q1 2023 compared to Q1 2022, mainly due to increased capital expenditures[78] Shareholder Returns - The company repurchased $3,028 million of common stock during the period, compared to $2,250 million in the same period last year[15] - Cash dividends paid were $2,118 million, an increase from $1,962 million in the prior year[17] - The company announced a 10% increase in its quarterly cash dividend from $1.90 to $2.09 per share, resulting in $2.1 billion paid in cash dividends during the first three months of fiscal 2023[75] - Cash dividends per share increased to $2.09 from $1.90 year-over-year[39] - The total number of shares repurchased in the three months ended April 30, 2023, was 10 million, costing $3,028 million[43] - The company has a $15.0 billion share repurchase authorization, with approximately $9.5 billion remaining as of April 30, 2023, and $2.9 billion spent on share repurchases in Q1 2023[75] Operational Metrics - The inventory turnover ratio was 3.9 times, down from 4.4 times in Q1 2022, due to lower sales and higher average inventory levels[59] - The return on invested capital (ROIC) was 43.6% for the trailing twelve months, down from 45.3% in the previous year[72] - Online sales represented 14.5% of net sales, decreasing by 2.9% compared to Q1 2022[65] - The company opened two new stores in Mexico, bringing the total store count to 2,324, with 317 stores (13.6%) located in Canada and Mexico[59] Debt and Financing - The company has a commercial paper program allowing borrowings up to $5.0 billion, with a maximum outstanding amount of $1.5 billion during the first three months of fiscal 2023[34] - The company repaid $1.0 billion of 2.70% senior notes at maturity in April 2023[35] - The company had no outstanding borrowings under its commercial paper program as of April 30, 2023, and was in compliance with all covenants[76] - The maximum amount outstanding under the commercial paper program was $1.5 billion during the first three months of fiscal 2023[76] - The company repaid $1.0 billion of senior notes at maturity in April 2023, with no new issuances during Q1 2023[76] Currency and Adjustments - The company reported a foreign currency translation adjustment of $79 million for the period, compared to $20 million in the prior year[15] - The fair value of derivative agreements – liabilities decreased to $740 million from $778 million as of January 29, 2023[46]

The Home Depot, Inc. (NYSE:HD) Q1 2023 Earnings Conference Call May 16, 2023 9:00 AM ET Company Participants Isabel Janci - Investor Relations Ted Decker - Chair, President and Chief Executive Officer Billy Bastek - EVP, Merchandising Ann-Marie Campbell - EVP, U.S. Stores and International Operations Richard McPhail - EVP and Chief Financial Officer Hector Padilla - EVP, Outside Sales & Service Conference Call Participants Chris Horvers - JPMorgan Steven Zaccone - Citi Zach Fadem - Wells Fargo Michael Lasse ...

The Home Depot, Inc. (NYSE:HD) J.P. Morgan 9th Annual Retail Round-Up Conference March 30, 2023 9:00 AM ET Company Participants Richard McPhail - Executive Vice President and CFO Conference Call Participants Chris Horvers - J.P. Morgan Chris Horvers Okay. Great. We’re going to get started here. Thank you, everybody. Good morning, everybody, and let me, again, welcoming you to day two of our Ninth Annual Retail Roundup. I’m Chris Horvers, J.P. Morgan’s broadlines and hardlines retail analyst. This morning, i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8207 THE HOME DEPOT, INC. (Exact name of registrant as specified in its charter) Delaware 95-3261426 (State or other jurisdiction of inc ...

The Home Depot, Inc. (NYSE:HD) Q4 2022 Earnings Conference Call February 21, 2023 9:00 AM ET Company Participants Isabel Janci - Vice President of Investor Relations Ted Decker - Chair, President & Chief Executive Officer Ann-Marie Campbell - Executive Vice President of US Stores & International Operations Jeff Kinnaird - Executive Vice President of Merchandising Richard McPhail - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Lasser - UBS Scot Ciccarelli - Truist Si ...

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