The Home Depot reported fourth quarter sales of $39.7 billion, a 14.1% increase from the same period in fiscal 2023. Comparable sales for the fourth quarter saw a 0.8% increase, with U.S. comparable sales growing by 1.3%. Net earnings for the quarter were $3.0 billion, or $3.02 per diluted share, compared to $2.8 billion, or $2.82 per diluted share, in the fourth quarter of fiscal 2023. Adjusted diluted earnings per share for the same period were $3.13, compared to $2.86 in fiscal 2023.
For the entire fiscal year 2024, the company reported sales of $159.5 billion, a 4.5% increase from fiscal 2023. However, comparable sales for the year decreased by 1.8%, with U.S. comparable sales also decreasing by 1.8%. Net earnings for fiscal 2024 were $14.8 billion, or $14.91 per diluted share, compared to $15.1 billion, or $15.11 per diluted share in fiscal 2023. Adjusted diluted earnings per share for fiscal 2024 were $15.24, compared to $15.25 in fiscal 2023.
The company's board of directors approved a 2.2% increase in its quarterly dividend to $2.30 per share, equating to an annual dividend of $9.20 per share, payable on March 27, 2025.
Looking ahead to fiscal 2025, The Home Depot provided guidance, including expectations of total sales growth of approximately 2.8% and comparable sales growth of approximately 1.0% for the 52-week period. The company anticipates a decline of approximately 3% in diluted earnings-per-share from fiscal 2024 and a decline of approximately 2% in adjusted diluted earnings-per-share from the same period.
At the end of the fourth quarter, The Home Depot operated a total of 2,347 retail stores and over 780 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces, and Mexico. The company employs over 470,000 associates. The market has reacted to these announcements by moving the company's shares 3.7% to a price of $396.64. For more information, read the company's full 8-K submission here.
