The Home Depot said sales for the first quarter of fiscal 2024, Q1 (ended April 28, 2024), were $36.4 billion, down 2.3% from a year earlier. Net earnings were $3.6 billion ($3.63 per diluted share), compared with $3.9 billion ($3.82) a year earlier.

1. 01

   The Home Depot said sales for the first quarter of fiscal 2024, Q1 (ended April 28, 2024), were $36.4 billion, down 2.3% from a year earlier. Net earnings were $3.6 billion ($3.63 per diluted share), compared with $3.9 billion ($3.82) a year earlier.

2. 02

   The company said comparable sales for Q1 decreased 2.8%, and comparable sales in the U.S. decreased 3.2%. It cited a delayed start to spring and softness in certain larger discretionary projects as factors that affected the quarter.

3. 03

   Home Depot reaffirmed its fiscal 2024 guidance, which includes 53 weeks of operating results, and gave an outlook for total sales growth of about 1.0% including the 53rd week and operating margin of about 14.1%. The guidance does not reflect the pending SRS Distribution Inc. acquisition, which has not closed.

4. 04

   The company disclosed that operating cash flow for Q1 (3 months) was $5,497 million ($5,614 million a year earlier), and that share repurchases were $649 million, down from $2,887 million a year earlier. Cash and cash equivalents at the end of the period were $4,264 million.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.