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Home Depot Navigating Macroeconomic Uncertainty Well

publication date: Nov 13, 2024
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Image: Home Depot’s shares are flirting with all-time highs. 

Looking to fiscal 2024 guidance, Home Depot expects total sales to increase 4% including SRS Distribution and the 53rd week, up from the prior forecast of 2.5%-3.5%. The 53rd week is expected to add $2.3 billion to total sales, while its SRS acquisition is expected to contribute roughly $6.4 billion in incremental sales. Comparable sales are expected to decline roughly 2.5% for the 52-week period compared to fiscal 2023 and down 3%-4% previously. Adjusted diluted earnings per share is expected to decline roughly 1% from $15.25 in fiscal 2023, including the 53rd week and better than prior expectations calling for a 1%-3% decline. Shares yield 2.2% at the time of this writing.


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