Home Depot's Q3 revenue is $43.2 billion, and it raises its full-year earnings forecast

It is learned that recently, the US home furnishing retail giant Home Depot released its third-quarter financial report for 2024. The report shows that Home Depot's revenue in the third quarter was US$43.2 billion, a year-on-year increase of 6.6%.

Here is a summary of Home Depot's third-quarter financial results:

Revenue was $43.2 billion, up 6.6% year-over-year

Comparable sales fell 1.3% and U.S. comparable sales fell 1.2%

Operating profit was $5.4 billion, with an operating margin of 13.5%

Net profit was $3.6 billion, compared with $3.8 billion in the same period last year

Ted Decker, chairman, president and CEO of Home Depot, said that despite macroeconomic uncertainty, third-quarter results exceeded expectations. As the weather returned to normal, demand for seasonal goods and outdoor projects rebounded, and sales increased due to hurricane-related demand. Home Depot has improved its logistics capabilities through strategic supply chain investments, allowing nearly half of online orders to be fulfilled by nearby stores. This improvement in logistics capabilities also led to a 7.3% increase in sales costs, which squeezed profit margins to a certain extent.

Looking ahead, Home Depot expects full-year revenue growth of 4% in fiscal 2024, gross margin of approximately 33.5%, operating margin of approximately 13.5%, adjusted operating margin of approximately 13.8%, and net interest expense of approximately $2.1 billion.

Author ✎ Rayna/

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