Home Depot(US:HD)2025-05-20 10:13Financial Performance - Total sales for the first quarter of fiscal 2025 were $39.9 billion, a 9.4% increase from the same period in fiscal 2024[1] - Net earnings for the first quarter of fiscal 2025 were $3.4 billion, or $3.45 per diluted share, compared to $3.6 billion, or $3.63 per diluted share in the prior year[1][2] - Comparable sales for the first quarter of fiscal 2025 decreased by 0.3%, while comparable sales in the U.S. increased by 0.2%[1] - Adjusted diluted earnings per share are expected to decline approximately 2% from $15.24 in fiscal 2024[3] - The diluted earnings per share (GAAP) decreased by 5.0% to $3.45 from $3.63 year-over-year[24] - The adjusted diluted earnings per share (Non-GAAP) was $3.56, down 3.0% from $3.67 in the previous year[24] - Net earnings for the three months ended May 4, 2025, were $3,433 million, a decrease of 4.6% compared to $3,600 million for the same period in 2024[17] Sales and Store Operations - The company reaffirms its fiscal 2025 guidance, projecting total sales growth of approximately 2.8% and comparable sales growth of approximately 1.0%[3] - The company plans to open approximately 13 new stores in fiscal 2025[3] - Customer transactions increased by 2.1% to 394.8 million in the first quarter of fiscal 2025[12] - The company operated a total of 2,350 retail stores and over 790 branches at the end of the first quarter[5] Margins and Earnings - The gross margin for the first quarter of fiscal 2025 was approximately 33.4%[3] - The operating margin (GAAP) for the quarter was 12.9%, a decrease from 13.9% in the same quarter last year[21] - The company expects an approximate 40 basis point impact on adjusted operating margin guidance for fiscal 2025 due to acquired intangible asset amortization[22] Cash Flow and Investments - Cash flows from operating activities totaled $4,325 million, down from $5,497 million, indicating a decline of 21.3%[17] - The company reported a net cash used in investing activities of $931 million, compared to $830 million in the prior year[17] - Cash dividends paid were $2,286 million, slightly up from $2,229 million, representing a 2.6% increase[17] - Cash and cash equivalents at the end of the period were $1,369 million, down from $4,264 million at the end of the same period last year[17] Assets - Total assets increased to $99.2 billion as of May 4, 2025, compared to $79.2 billion a year earlier[15] - Adjusted operating income for the same period was $5,272 million, reflecting a 2.7% increase from $5,131 million in the prior year[21]