The Home Depot Reports Strong Sales and Earnings in Q1 2024
Continued Growth for the Home Improvement Giant
ATLANTA, Ga. – The Home Depot, the world's largest home improvement retailer, announced its financial results for the first quarter of fiscal 2024, reporting strong growth in sales and earnings.
Sales Growth and Net Earnings
The company reported sales of $43.2 billion for the quarter, representing a 9.5% increase compared to the same period last year. Net earnings for the quarter were $3.6 billion, or $3.63 per diluted share, a slight decrease from the $3.9 billion or $3.82 per share reported in Q1 2023.
Pro Sales and Home Services Drive Growth
The Home Depot attributed its sales growth to continued strong demand in its Pro business, which serves contractors and other trade professionals. Additionally, the company's Home Services business, which offers installation and repair services, also contributed to the growth.
Outlook for Fiscal 2024
The Home Depot remains optimistic about its outlook for the remainder of fiscal 2024. The company anticipates continued growth in sales and earnings, driven by ongoing home improvement projects and its focus on its Pro and Home Services businesses.
Additional Information
For more information on The Home Depot's financial results, please visit the company's investor relations website: https://investor.homedepot.com/
For additional inquiries, including customer care, please contact The Home Depot at 1-770-384-2871.
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