PR Newswire
ATLANTA, Nov. 14, 2023
ATLANTA, Nov. 14, 2023 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $37.7 billion for the third quarter of fiscal 2023, a decrease of 3.0% from the third quarter of fiscal 2022. Comparable sales for the third quarter of fiscal 2023 decreased 3.1%, and comparable sales in the U.S. decreased 3.5%.
Net earnings for the third quarter of fiscal 2023 were $3.8 billion, or $3.81 per diluted share, compared with net earnings of $4.3 billion, or $4.24 per diluted share, in the same period of fiscal 2022.
"Our quarterly performance was in line with our expectations," said Ted Decker, chair, president and CEO. "Similar to the second quarter, we saw continued customer engagement with smaller projects, and experienced pressure in certain big-ticket, discretionary categories. We remain very excited about our strategic initiatives and are committed to investing in the business to deliver the best interconnected shopping experience, capture wallet share with the Pro, and grow our store footprint. In addition, our associates did an outstanding job delivering value and service for our customers throughout the quarter and I would like to thank them for their dedication and hard work."
Fiscal 2023 Guidance
The company narrowed its prior fiscal 2023 guidance range:
The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations.
At the end of the third quarter, the company operated a total of 2,333 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
Certain statements contained herein constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services; net sales growth; comparable sales; the effects of competition; our brand and reputation; implementation of store, interconnected retail, supply chain and technology initiatives; inventory and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans, and consumer credit; the impact of tariffs; issues related to the payment methods we accept; demand for credit offerings; management of relationships with our associates, potential associates, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, military conflicts or acts of war, supply chain disruptions, and other business interruptions that could compromise data privacy or disrupt operation of our stores, distribution centers and other facilities, our ability to operate or access communications, financial or banking systems, or supply or delivery of, or demand for, our products or services; our ability to address expectations regarding environmental, social and governance matters and meet related goals; continuation or suspension of share repurchases; net earnings performance; earnings per share; future dividends; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; changes in interest rates; changes in foreign currency exchange rates; commodity or other price inflation and deflation; our ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims, and litigation, including compliance with related settlements; the challenges of international operations; the adequacy of insurance coverage; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of legal and regulatory changes, including changes to tax laws and regulations; store openings and closures; guidance for fiscal 2023 and beyond; financial outlook; and the impact of acquired companies on our organization and the ability to recognize the anticipated benefits of any acquisitions. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A, "Risk Factors," and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 29, 2023 and also as may be described from time to time in future reports we file with the Securities and Exchange Commission. There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to differ materially from our expectations.
Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements.
THE HOME DEPOT, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) | |||||||||||
| |||||||||||
| Three Months Ended | | | | Nine Months Ended | | | ||||
in millions, except per share data | October 29, | | October 30, | | % Change | | October 29, | | October 30, | | % Change |
Net sales | $ 37,710 | | $ 38,872 | | (3.0) % | | $ 117,883 | | $ 121,572 | | (3.0) % |
Cost of sales | 24,972 | | 25,648 | | (2.6) | | 78,431 | | 80,720 | | (2.8) |
Gross profit | 12,738 | | 13,224 | | (3.7) | | 39,452 | | 40,852 | | (3.4) |
Operating expenses: | | | | | | | | | | | |
Selling, general and administrative | 6,649 | | 6,468 | | 2.8 | | 19,919 | | 19,735 | | 0.9 |
Depreciation and amortization | 683 | | 608 | | 12.3 | | 1,987 | | 1,830 | | 8.6 |
Total operating expenses | 7,332 | | 7,076 | | 3.6 | | 21,906 | | 21,565 | | 1.6 |
Operating income | 5,406 | | 6,148 | | (12.1) | | 17,546 | | 19,287 | | (9.0) |
Interest and other (income) expense: | | | | | | | | | | | |
Interest income and other, net | (49) | | (7) | | N/M | | (123) | | (12) | | N/M |
Interest expense | 487 | | 413 | | 17.9 | | 1,430 | | 1,166 | | 22.6 |
Interest and other, net | 438 | | 406 | | 7.9 | | 1,307 | | 1,154 | | 13.3 |
Earnings before provision for income taxes | 4,968 | | 5,742 | | (13.5) Werbung Mehr Nachrichten zur Home Depot Inc. Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |