Extra Week Helps Home Depot Beat Q4 Forecasts
Home Depot reported a robust fourth quarter with significant revenue growth, though macroeconomic pressures remain a concern.
Home improvement retail giant Home Depot (NYSE:HD) reported fourth-quarter and full-year 2024 earnings on Tuesday, Feb. 25, that exceeded analysts' consensus expectations. Fourth-quarter revenue of $39.7 billion jumped 14.1% from the previous year's quarter, outperforming expectations of $39.2 billion. This increase was supported by an extra operating week in Q4, contributing approximately $2.5 billion to sales. Adjusted earnings per share (EPS) hit $3.13, topping the expected $3.04.
Despite these positive results, challenges remain, such as broader market pressures impacting its comparable sales, which grew by a modest 1.3% in the U.S. and 0.8% overall.
Source: Home Depot. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year.
