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What will Home Depot's gross margin be for fiscal year 2024?
3
Resolution / Starting Odds
Above 34% • 25%
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Home Depot's fiscal year 2024 financial report
Story
Home Depot Beats Q3 Estimates with EPS of $3.78, Revenue $40.22B; Raises Full-Year Sales Outlook
Nov 12, 2024, 11:26 AM
Home Depot reported its Q3 fiscal 2024 earnings, surpassing analysts' expectations with adjusted earnings per share (EPS) of $3.78, exceeding the estimated $3.66, and revenue of $40.22 billion, up 6.6% year-over-year and above the anticipated $39.29 billion. Comparable sales decreased by 1.3%, a smaller decline than the estimated 3.27% drop, with U.S. comps down 1.2%. The company's net income declined by 4.3% to $3.6 billion, and gross margin narrowed to 33.4% from 33.8% in the prior year. Transactions decreased by 0.2%, while the average ticket value fell by 0.8%. Merchandise inventories amounted to $23.90 billion, higher than the estimated $23.33 billion. Home Depot raised its full-year sales growth outlook to 4%, up from its previous estimate of 2.5% to 3.5%, and adjusted its full-year EPS guidance to a decline of 2%. The company cited better customer engagement in seasonal goods and outdoor projects as contributing factors.
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