- Home improvement retailer Home Depot Inc HD reported fourth-quarter FY22 sales growth of 0.3% year-on-year to $35.83 billion, marginally missing the consensus of $35.97 billion.
- Customer transactions for the quarter fell 6%. Comparable sales decreased 0.3%, and comparable sales in the U.S. slipped 0.3%.
- Gross profit rose 0.5% Y/Y to $11.9 billion. The operating margin was 13.3%, and operating income for the quarter fell 1.5% to $4.75 billion.
- The operating expenses increased 1.9% Y/Y to $7.2 billion.
- EPS of $3.30 beat the analyst consensus of $3.28.
- The average ticket in Q4 was $90.05, a 5.8% growth, and sales per square foot declined 0.1% to $571.15.
- The company held $2.8 billion in cash and equivalents as of January 29, 2023. Net cash provided by operating activities for the year totaled $14.62 billion.
- Beginning in Q1 of FY23, Home Depot will invest an additional approximately $1 billion in annualized compensation for frontline, hourly associates.
- The company’s board of directors approved a 10% increase in its quarterly dividend to $2.09 per share, which equates to an annual dividend of $8.36 per share.
- The dividend is payable on March 23, 2023, to shareholders of record on the close of business on March 9, 2023.
- Outlook FY23: Home Depot sees sales growth and comparable sales growth to be approximately flat compared to FY22.
- HD forecasts EPS-percent -decline to be mid-single digits. The company expects an FY23 operating margin of 14.5%.
- Price Action: HD shares traded lower by 3.96% at $305.37 in premarket on the last check Tuesday.
HDThe Home Depot Inc
$358.63-0.28%
Edge Rankings
Momentum
53.36
Growth
48.94
Quality
-
Value
24.20
Price Trend
Short
Medium
Long
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
