The Residence Depot (NYSE: HD) reported its second quarter 2024 earnings outcomes right this moment.
Gross sales of $43.2 billion inched up 0.6% from the identical interval final yr. Comparable gross sales decreased 3.3%.
Internet earnings had been $4.6 billion, or $4.60 per share, in comparison with $4.7 billion, or $4.65 per share, final yr. Adjusted EPS was $4.67.
Income and earnings beat expectations.
Residence Depot up to date its fiscal yr 2024 steering, which incorporates 53 weeks of working outcomes, to mirror the efficiency within the first half of 2024 and embody the SRS Distribution acquisition.
The corporate now expects complete gross sales to extend between 2.5-3.5%, together with the 53rd week. The 53rd week is projected so as to add approx. $2.3 billion to complete gross sales and SRS is predicted to contribute round $6.4 billion in incremental gross sales.
Comparable gross sales are anticipated to say no between 3-4% for the 52-week interval in comparison with fiscal yr 2023.
GAAP EPS for the 53-week interval is projected to say no 2-4%. The 53rd week is predicted to contribute approx. $0.30 of diluted EPS in comparison with FY2023.
Adjusted EPS for the 53-week interval is predicted to say no 1-3%, with the 53rd week anticipated to contribute round $0.30 of adjusted EPS in comparison with final yr.
The inventory dropped over 3% in premarket hours on Tuesday.
Prior efficiency
