The Home Depot has reported strong first-quarter fiscal 2025 results, with sales reaching $39.9 billion, a notable increase of 9.4% from the same period in fiscal 2024. However, comparable sales for the first quarter of fiscal 2025 decreased by 0.3%, with U.S. comparable sales increasing by 0.2%. Foreign exchange rates also had a negative impact on total company comparable sales, reducing them by approximately 70 basis points.
Net earnings for the first quarter of fiscal 2025 were $3.4 billion, or $3.45 per diluted share, compared to $3.6 billion, or $3.63 per diluted share, in the first quarter of fiscal 2024. Adjusted diluted earnings per share for the first quarter of fiscal 2025 were reported at $3.56, a decrease from the adjusted diluted earnings per share of $3.67 in the same period of fiscal 2024.
Looking ahead, The Home Depot reaffirms its fiscal 2025 guidance, expecting total sales growth of approximately 2.8% and comparable sales growth of about 1.0% for the 52-week period. The company also anticipates opening around 13 new stores and aims for a gross margin of about 33.4% and an operating margin of approximately 13.0%.
In terms of earnings, the company expects diluted earnings-per-share to decline by approximately 3% from fiscal 2024, and adjusted diluted earnings-per-share to decline by approximately 2% from the same period. Additionally, The Home Depot plans for capital expenditures of about 2.5% of total sales.
At the end of the first quarter of fiscal 2025, The Home Depot operated a total of 2,350 retail stores and over 790 branches across various regions. The company employs over 470,000 associates and its stock is traded on the New York Stock Exchange under the ticker symbol "HD."
As a result of these announcements, the company's shares have moved -1.38% on the market, and are now trading at a price of $374.165. For the full picture, make sure to review HOME DEPOT, INC.'s 8-K report.
