Home Depot Q1 Sales Dip, Earnings Decline
Ticker: HD · Form: 10-Q · Filed: 2024-05-21T00:00:00.000Z
Sentiment: bearish
Topics: retail, earnings, sales-decline
TL;DR
HD Q1 sales down to $37.7B, earnings $3.4B. Watch consumer spending.
AI Summary
Home Depot, Inc. filed its 10-Q for the period ending April 28, 2024. The company reported net sales of $37.7 billion for the first quarter of fiscal year 2024, a decrease from $38.9 billion in the same period last year. Net earnings also saw a decline to $3.4 billion from $3.9 billion year-over-year.
Why It Matters
This filing indicates a slowdown in consumer spending on home improvement products, potentially impacting the broader retail and construction sectors.
Risk Assessment
Risk Level: medium — The decline in sales and earnings suggests potential headwinds in the retail sector and consumer discretionary spending.
Key Numbers
- $37.7B — Net Sales (Q1 2024) (Represents a decrease from the prior year's Q1.)
- $3.4B — Net Earnings (Q1 2024) (Reflects a decrease compared to Q1 2023.)
Key Players & Entities
- Home Depot, Inc. (company) — Filer of the 10-Q
- 20240428 (date) — End of reporting period
- $37.7 billion (dollar_amount) — Net sales for Q1 2024
- $38.9 billion (dollar_amount) — Net sales for Q1 2023
- $3.4 billion (dollar_amount) — Net earnings for Q1 2024
- $3.9 billion (dollar_amount) — Net earnings for Q1 2023
FAQ
What were Home Depot's net sales for the first quarter of fiscal year 2024?
Home Depot's net sales for the first quarter of fiscal year 2024 were $37.7 billion.
How did net sales in Q1 2024 compare to Q1 2023?
Net sales decreased from $38.9 billion in Q1 2023 to $37.7 billion in Q1 2024.
What were Home Depot's net earnings for the first quarter of fiscal year 2024?
Home Depot's net earnings for the first quarter of fiscal year 2024 were $3.4 billion.
How did net earnings in Q1 2024 compare to Q1 2023?
Net earnings decreased from $3.9 billion in Q1 2023 to $3.4 billion in Q1 2024.
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is April 28, 2024.
From the Filing
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