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Jan 31, 2024
Home Depot Q4 2023 Earnings Report
Home Depot reported fourth quarter and fiscal 2022 results, including a slight increase in sales and net earnings for the quarter.
Key Takeaways
The Home Depot announced fourth quarter and fiscal 2022 results, with Q4 sales increasing by 0.3% to $35.8 billion and diluted EPS rising by 2.8% to $3.30. The company plans to invest approximately $1 billion in annualized compensation for frontline, hourly associates and increased its quarterly dividend by 10%.
Fourth quarter sales increased by 0.3% to $35.8 billion.
Diluted earnings per share for the fourth quarter increased by 2.8% to $3.30.
The company will invest approximately $1 billion in annualized compensation for frontline, hourly associates starting in fiscal 2023.
The quarterly dividend was increased by 10% to $2.09 per share.
Forward Guidance
For fiscal 2023, The Home Depot expects sales and comparable sales growth to be approximately flat compared to fiscal 2022, with diluted earnings per share declining in the mid-single digits.
Positive Outlook
- Continued investment in associates with approximately $1 billion in additional annual compensation for frontline, hourly associates.
- Operating margin rate expected to be approximately 14.5 percent.
- Tax rate expected to be approximately 24.5 percent.
Challenges Ahead
- Sales growth and comparable sales growth to be approximately flat compared to fiscal 2022.
- Diluted earnings-per-share-percent-decline to be mid-single digits.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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