Home Depot, Inc. reported its fourth-quarter earnings for 2024, announcing a significant 7% increase in revenue to $35.5 billion, exceeding analysts’ expectations. The company’s comparable store sales for Q4 grew by 2.7%, driven by a strong performance in both DIY and professional segments. President and CEO Ted Decker noted in the earnings call, ‘Despite the challenges in the housing market, our commitment to delivering exceptional value to our customers has yielded strong results.’ The company’s net income for the quarter reached $3.4 billion, translating to earnings per share of $3.10, also surpassing market predictions. Home Depot’s operational efficiency improvements were highlighted, which contributed to a 4.5% growth in operating income. Furthermore, the company’s stock saw an increase of 5% in after-hours trading following the earnings release. Looking forward, Home Depot announced a cautious outlook for 2025, with a forecasted revenue growth of 2-4%, reflecting ongoing uncertainty in the macroeconomic environment. Chief Financial Officer Richard McPhail stated, ‘While we anticipate a more moderated environment, we remain confident in our strategy to leverage our scale and commercial capabilities to drive growth.’
Home Depot Reports Strong Q4 2024 Earnings Amidst Challenging Market Conditions
