Home Depot reported Q3 fiscal 2024 sales of $40.2B, up 6.6% YoY, while comparable sales decreased 1.3%. Net earnings were $3.6B, or $3.67 per diluted share, compared to $3.8B, or $3.81 per share in Q3 2023. Adjusted operating margin was 13.8%, down from 14.5% last year.The company updated its fiscal 2024 guidance, projecting total sales growth of approximately 4% including the 53rd week contribution of $2.3B. Comparable sales are expected to decline approximately 2.5% for the 52-week period. The company maintains an operating margin forecast of 13.5% and expects 53-week diluted earnings-per-share to decline approximately 2% from $15.11 in fiscal 2023.Management noted that Q3 performance exceeded expectations, citing normalized weather conditions leading to better engagement across seasonal goods and outdoor projects, along with incremental hurricane-related demand. The company operates 2,345 retail stores and over 780 branches across North America.

Home Depot reported Q3 fiscal 2024 sales of $40.2B, up 6.6% YoY, while comparable sales decreased 1.3%. Net earnings were $3.6B, or $3.67 per diluted share, compared to $3.8B, or $3.81 per share in Q3 2023. Adjusted operating margin was 13.8%, down from 14.5% last year.The company updated its fiscal 2024 guidance, projecting total sales growth of approximately 4% including the 53rd week contribution of $2.3B. Comparable sales are expected to decline approximately 2.5% for the 52-week period. The company maintains an operating margin forecast of 13.5% and expects 53-week diluted earnings-per-share to decline approximately 2% from $15.11 in fiscal 2023.Management noted that Q3 performance exceeded expectations, citing normalized weather conditions leading to better engagement across seasonal goods and outdoor projects, along with incremental hurricane-related demand. The company operates 2,345 retail stores and over 780 branches across North America.