Summary by Moomoo AI
Home Depot reported net sales of $159.5 billion for fiscal 2024, up 4.5% from prior year, with net earnings of $14.8 billion or $14.91 per diluted share. The 53rd week added approximately $2.5 billion to net sales and $0.30 to EPS. The results include $6.4 billion in sales contribution from SRS Distribution following its acquisition in June 2024 for $17.7 billion.Comparable sales decreased 1.8% year-over-year, reflecting a 1.0% decline in customer transactions and 0.9% decrease in average ticket, primarily due to persistent high interest rates pressuring home improvement demand. Online sales grew 6.6% and represented 15.1% of total sales. The company maintained a gross margin of 33.4% while SG&A expenses increased to 18.0% of sales from 17.4% last year.The company invested $3.5 billion in capital expenditures and paid $8.9 billion in dividends during fiscal 2024. Home Depot announced a 2.2% increase in quarterly dividend to $2.30 per share. Return on invested capital was 31.3%, down from 36.7% in fiscal 2023 primarily due to higher debt and equity from the SRS acquisition financing.
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