Home Depot Q1 sales down 4.2% to $37.3B; EPS $3.82; cuts FY23 guidance to -2% to -5% sales decline

HOME DEPOT, INC.

2023-Q1 EPS reported $3.82 revenue$37,257,000,000

Sales $37.3B, down 4.2% YoY; comp sales -4.5%, U.S. comp -4.6%.
Net earnings $3.9B, EPS $3.82 vs $4.09 YoY (diluted).
Cites lumber deflation, unfavorable weather (especially extreme California weather).
Updated FY23 guidance: sales decline 2-5%, operating margin 14.0-14.3%, EPS decline 7-13%.
After $47B growth over 3 years, expects moderation in home improvement market.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

HOME DEPOT, INC. reported the fiscal quarter ended April 30, 2023 results: revenue $37.3 billion, net income $3.9 billion, EPS $3.82 per diluted share. Guidance lowered.

Period: the fiscal quarter ended April 30, 2023
Revenue: $37.3 billion
Net income: $3.9 billion
EPS: $3.82 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

First Quarter Fiscal 2023 Results; Updates Fiscal 2023 Guidance ATLANTA, May 16, 2023 -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $37.3 billion for the first quarter of fiscal 2023, a decrease of 4.2% from the first quarter of fiscal 2022. Comparable sales for the first quarter of fiscal 2023 decreased 4.5%, and

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Source: SEC EDGAR

accession 0000354950-23-000110

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