Home Depot Q1 2024 Performance Analysis and Outlook
Wednesday, 15 May 2024, 17:54
Mixed Results
Home Depot reported net sales of $36.4 billion for Q1 2024, declining 2.3% YoY.
The company delivered EPS of $3.63, surpassing projections despite a 5% decline from the previous year.
Business Performance
- Comps sales decreased 2.8% and 3.2% in the US.
- Comp transactions and average ticket also saw declines.
Focus on the Pro Segment
Home Depot aims to drive growth in the Pro customer segment, targeting a significant market opportunity of approx. $250 billion.
The company's acquisition of SRS Distributors aligns with this strategy.
Outlook
HD reaffirmed its guidance for FY 2024, expecting modest sales growth and EPS expansion.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.