Home Depot has announced its financial results for Q4 and fiscal year 2024, showing a 14.1% increase in sales.
Q4 2024 Results
Home Depot achieved $39.7 billion in sales for Q4 2024, a 14.1% increase compared to the previous year. Without the extra week, comparable U.S. sales grew by 1.3%. Net earnings were $3.0 billion, with earnings per share at $3.02, topping $2.82 from last year. Adjusted earnings per share reached $3.13.
2024 Financial Overview
Annual results for Home Depot show an increase in overall sales to $159.5 billion, up 4.5% year-over-year. However, comparable sales declined by 1.8%. Net earnings for the fiscal year were $14.8 billion, down from $15.1 billion in 2023. Nonetheless, the company remains committed to strategic investments amid external challenges.
2025 Outlook
Home Depot's forecast for 2025 anticipates a total sales growth of 2.8% and comparable sales growth of 1.0%. Operating margin is expected to be around 13.0%, with an adjusted operating margin of 13.4%. In addition, the company plans to open 13 new stores, anticipating a slight decrease in earnings per share by 3%.
Home Depot closed 2024 on a strong note despite broader market pressures. The 2025 outlook reflects a realistic approach amidst economic conditions.
