NYSE$HD
Home Depot Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Home Depot's Q2 2024 performance reflected a slight sales increase with moderated earnings amid a challenging macroeconomic backdrop.
Home Depot reported a 0.6% increase in sales to $43.2 billion for Q2 2024, which includes $1.3 billion from the SRS Distribution Inc. acquisition. However, comparable sales decreased by 3.3%, and net earnings were $4.6 billion, or $4.60 per diluted share, compared to $4.7 billion, or $4.65 per diluted share, in the same period last year.
- Total sales increased by 0.6% to $43.2 billion, including a $1.3 billion contribution from the SRS Distribution Inc. acquisition.
- Comparable sales decreased by 3.3%, with a 3.6% decrease in the U.S.
- Net earnings were $4.6 billion, or $4.60 per diluted share, down from $4.7 billion, or $4.65 per diluted share, in Q2 2023.
- The company updated its fiscal 2024 guidance to include SRS and a 53rd operating week.
Headline financials
Revenue & EPS history
Home Depot · Revenue · Quarterly
$43.2B
Forward guidance
The company updated its fiscal 2024 guidance, which includes 53 weeks of operating results, to reflect the performance in the first half of fiscal 2024 and include SRS:Total sales to increase between 2.5% and 3.5% including the 53rd week
Tailwinds
- Total sales to increase between 2.5% and 3.5% including the 53rd week
- 53rd week projected to add approximately $2.3 billion to total sales
- SRS expected to contribute approximately $6.4 billion in incremental sales
- Gross margin of approximately 33.5%
- Tax rate of approximately 24%
Headwinds
- Comparable sales to decline between 3% and 4% for the 52-week period compared to fiscal 2023
- Comparable sales decline of 3% implies a consumer demand environment consistent with the first half of fiscal 2024
- While comparable sales for the company are not currently on the trajectory for the low end of the range, a 4% decline implies incremental pressure on consumer demand
- Operating margin rate to be between 13.5% to 13.6%
- 53-week diluted earnings-per-share-percent decline between 2% and 4%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.4%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.4%
Avg return
30 days after
64%
42 / 66 earnings
Positive
+6.4%
Q3 2021
Best reaction
-5.8%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | — | — | |
| Q4 2025 | +3.7% | +1.0% | -12.9% | |
| Q3 2025 | -5.8% | -4.1% | -0.8% | |
| Q2 2025 | +2.7% | +4.6% | +5.8% | |
| Q1 2025 | -0.6% | -4.4% | -8.5% | |
| Q4 2024 | +2.8% | +3.7% | -5.1% | |
| Q3 2024 | +0.5% | -0.0% | +1.5% | |
| Q3 2023 | +0.0% | +1.9% | +9.3% | |
| Q2 2024 | +2.8% | +4.7% | +8.3% | |
| Q1 2024 | +2.3% | +1.0% | +2.0% | |
| Q1 2023 | -1.4% | +1.8% | -2.3% | |
| Q4 2023 | +0.8% | -0.5% | +7.7% | |
| Q2 2023 | +0.9% | -0.8% | -0.1% | |
| Q4 2022 | +0.4% | +1.3% | +2.3% | |
| Q3 2022 | +2.6% | +2.0% | +6.7% | |
| Q2 2022 | +3.5% | +2.1% | -13.7% | |
| Q1 2022 | -3.7% | -3.0% | -7.6% | |
| Q4 2021 | -4.2% | -4.7% | -9.0% | |
| Q3 2021 | +6.4% | +10.1% | +7.7% | |
| Q2 2021 | -4.0% | -1.7% | +0.4% | |
| Q1 2021 | -1.7% | -1.3% | -5.3% | |
| Q4 2020 | +2.5% | +4.2% | +11.7% | |
| Q3 2020 | -3.5% | -3.5% | -2.0% | |
| Q2 2020 | -1.9% | -1.7% | -2.9% | |
| Q1 2020 | -2.9% | -1.4% | +1.6% | |
| Q4 2019 | +5.7% | +6.2% | +14.9% | |
| Q3 2019 | +2.1% | +1.0% | +1.1% | |
| Q2 2019 | +1.5% | +4.2% | +5.1% | |
| Q1 2019 | -0.2% | -1.0% | +8.6% | |
| Q4 2018 | +1.4% | +2.7% | +7.6% | |
| Q3 2018 | -2.5% | -2.7% | -5.4% | |
| Q2 2018 | +0.5% | +1.7% | +6.6% | |
| Q1 2018 | -1.6% | -1.5% | +5.5% | |
| Q4 2017 | -3.5% | -1.9% | -0.6% | |
| Q3 2017 | +0.9% | +1.1% | +10.3% | |
| Q2 2017 | -0.1% | +0.3% | +6.7% | |
| Q1 2017 | -0.6% | -0.7% | -0.3% | |
| Q4 2016 | +0.2% | -0.1% | +1.8% | |
| Q3 2016 | +2.3% | +2.6% | +5.6% | |
| Q2 2016 | -0.2% | -0.7% | -4.9% | |
| Q1 2016 | +1.4% | +1.9% | -2.4% | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +1.6% | — | — | |
| Q2 2015 | +3.0% | — | — | |
| Q1 2015 | +1.1% | — | — | |
| Q4 2014 | +0.2% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | +1.0% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q2 2013 | +1.3% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +1.6% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | +5.1% | — | — | |
| Q2 2011 | -3.6% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q4 2010 | +2.2% | — | — | |
| Q3 2010 | +5.9% | — | — | |
| Q2 2010 | +4.1% | — | — | |
| Q1 2010 | -5.1% | — | — | |
| Q4 2009 | +1.3% | — | — |
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