Summary by Moomoo AI
Home Depot reported Q3 fiscal 2024 sales of $40.2 billion, up 6.6% YoY, with comparable sales decreasing 1.3%. Net earnings were $3.6 billion or $3.67 per diluted share, down from $3.8 billion or $3.81 per share in Q3 2023. Adjusted diluted EPS was $3.78, compared to $3.85 last year.The company updated its fiscal 2024 guidance, now expecting total sales to increase approximately 4%, including a 53rd week contribution of $2.3 billion. Comparable sales for the 52-week period are projected to decline about 2.5%. Home Depot anticipates an operating margin of 13.5% and adjusted operating margin of 13.8%.CEO Ted Decker noted that Q3 performance exceeded expectations, citing normalized weather conditions and hurricane-related demand. The company operates 2,345 retail stores and over 780 branches across North America, employing over 465,000 associates.
