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The Home Depot Announces Fourth Quarter and Fiscal 2024 Results; Increases Quarterly Dividend by 2.2%; Provides Fiscal 2025 Guidance
HDHome Depot(HD) Prnewswire·2025-02-25 11:00

Core Insights - The Home Depot reported strong fourth quarter results for fiscal 2024, with sales reaching 39.7billion,a14.139.7 billion, a 14.1% increase from the previous year [2][4] - The company experienced a net earnings increase to 3.0 billion, or 3.02perdilutedshare,comparedto3.02 per diluted share, compared to 2.8 billion, or 2.82perdilutedshareinthesameperiodoffiscal2023[4][6]−Forfiscal2024,totalsaleswere2.82 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 39.7billion,anincreaseof39.7 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 2.5billioninsales,whichisnotincludedincomparablesalesresults[3]Fiscal2024Overview−Totalsalesforfiscal2024were2.5 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 6.8billion,or4.56.8 billion, or 4.5% from fiscal 2023 [6] - Net earnings for fiscal 2024 were 14.8 billion, or 14.91perdilutedshare,downfrom14.91 per diluted share, down from 15.1 billion, or 15.11perdilutedshareinfiscal2023[6]−Adjusteddilutedearningspershareforfiscal2024were15.11 per diluted share in fiscal 2023 [6] - Adjusted diluted earnings per share for fiscal 2024 were 15.24, slightly down from 15.25infiscal2023[7]DividendDeclaration−Theboardofdirectorsapproveda2.215.25 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 9.20pershare[9]Fiscal2025Guidance−Thecompanyanticipatestotalsalesgrowthofapproximately2.89.20 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]