Home Depot Q1 FY24: Revenue -2.3%, EPS -5.0%

Filed May 21, 2024 · Period ending April 28, 2024 · Compared to 10-Q May 23, 2023 · ~1 min read

Key Changes

• high

  Management expects to issue senior notes and then reduce the program by $10.0 billion.

  Notes: Commercial Paper Program verify on EDGAR →
• high

  Net sales declined 2.3% to $36.4 billion in Q1 FY24, driven by a 2.8% decline in comparable sales reflecting lower customer transactions (-1.5%) and average ticket (-1.3%). Management cited consumer shift from goods to services, high interest rates, and price stabilization as headwinds.

  MD&A: Net Sales verify on EDGAR →
• high

  Gross margin expanded 40 basis points to 34.1% from 33.7%, driven by lower transportation costs and reduced shrink. This reverses prior-year margin compression from higher supply chain costs.

  MD&A: Gross Profit Margin verify on EDGAR →