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May 04, 2025
Home Depot Q1 2025 Earnings Report
Home Depot reported its Q1 2025 earnings with a modest decline in net income and EPS, but revenue increased year-over-year.
Key Takeaways
The Home Depot posted Q1 2025 results with revenue rising to $39.9B despite a slight dip in earnings. The company reaffirmed its full-year guidance and saw stable customer activity amid spring-related demand.
Revenue increased 9.4% year-over-year to $39.9B.
Net income decreased to $3.4B from $3.6B in the same quarter last year.
Comparable U.S. sales grew slightly by 0.2%, while total comparable sales fell by 0.3%.
Adjusted EPS was $3.56, slightly below last year’s $3.67.
Forward Guidance
The Home Depot reaffirmed its fiscal 2025 guidance, expecting modest sales growth and a slight decline in EPS due to a 52-week fiscal year comparison.
Positive Outlook
- Total sales growth forecasted at approximately 2.8%.
- Comparable sales expected to grow by 1.0% over 52 weeks.
- 13 new store openings planned.
- Adjusted operating margin guided at approximately 13.4%.
- Capital expenditures projected at 2.5% of total sales.
Challenges Ahead
- EPS expected to decline approximately 3% from FY2024.
- Adjusted EPS expected to decline approximately 2%.
- Gross margin is forecasted to be flat at 33.4%.
- Higher interest expenses estimated at $2.2 billion.
- Tax rate expected to remain elevated at 24.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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