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Jul 30, 2023
Home Depot Q2 2023 Earnings Report
Home Depot's sales decreased by 2.0% and net earnings reached $4.7 billion.
Key Takeaways
Home Depot reported a decrease in sales by 2.0% to $42.9 billion for the second quarter of fiscal 2023. Net earnings were $4.7 billion, or $4.65 per diluted share, compared to $5.2 billion, or $5.05 per diluted share, in the same period of fiscal 2022.
Sales for the second quarter of fiscal 2023 were $42.9 billion, a decrease of 2.0% from the second quarter of fiscal 2022.
Comparable sales for the second quarter of fiscal 2023 decreased 2.0%, and comparable sales in the U.S. decreased 2.0%.
Net earnings for the second quarter of fiscal 2023 were $4.7 billion, or $4.65 per diluted share.
The company reaffirmed fiscal 2023 guidance.
Forward Guidance
The company reaffirmed fiscal 2023 guidance: Sales and comparable sales to decline between 2% and 5% compared to fiscal 2022, Operating margin rate to be between 14.3% and 14.0%, Tax rate of approximately 24.5%, Interest expense of approximately $1.8 billion, Diluted earnings-per-share-percent-decline between 7% and 13% compared to fiscal 2022
Historical Earnings Impact
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