The Home Depot Announces Fourth Quarter and Fiscal 2024 Results; Increases Quarterly Dividend by 2.2%; Provides Fiscal 2025 Guidance

Core Insights - The Home Depot reported strong fourth quarter results for fiscal 2024, with sales reaching $39.7 billion, a 14.1% increase from the previous year [2][4] - The company experienced a net earnings increase to $3.0 billion, or $3.02 per diluted share, compared to $2.8 billion, or $2.82 per diluted share in the same period of fiscal 2023 [4][6] - For fiscal 2024, total sales were $159.5 billion, up 4.5% from fiscal 2023, but comparable sales decreased by 1.8% [6][8] Fourth Quarter 2024 Performance - Sales for the fourth quarter were $39.7 billion, an increase of $4.9 billion from the previous year [2] - Comparable sales increased by 0.8%, with U.S. comparable sales up 1.3% [2] - The fourth quarter included 14 weeks, contributing approximately $2.5 billion in sales, which is not included in comparable sales results [3] Fiscal 2024 Overview - Total sales for fiscal 2024 were $159.5 billion, an increase of $6.8 billion, or 4.5% from fiscal 2023 [6] - Net earnings for fiscal 2024 were $14.8 billion, or $14.91 per diluted share, down from $15.1 billion, or $15.11 per diluted share in fiscal 2023 [6] - Adjusted diluted earnings per share for fiscal 2024 were $15.24, slightly down from $15.25 in fiscal 2023 [7] Dividend Declaration - The board of directors approved a 2.2% increase in the quarterly dividend to $2.30 per share, equating to an annual dividend of $9.20 per share [9] Fiscal 2025 Guidance - The company anticipates total sales growth of approximately 2.8% and comparable sales growth of approximately 1.0% for fiscal 2025 [10] - Expected diluted earnings per share are projected to decline approximately 3% from $14.91 in fiscal 2024 [10] - Capital expenditures are estimated to be approximately 2.5% of total sales [10] Operational Metrics - At the end of the fourth quarter, The Home Depot operated 2,347 retail stores and employed over 470,000 associates [12] - Customer transactions increased to 400.4 million in the fourth quarter, a 7.6% increase from the previous year [17]