Home Depot Stock Price, News & Analysis

The Home Depot reported a record $43.8 billion in sales for Q2 2022, marking a 6.5% increase from Q2 2021. Net earnings rose to $5.2 billion or $5.05 per diluted share, up 11.5% year-over-year. Comparable sales increased by 5.8%, with U.S. sales up 5.4%. The company reaffirmed its 2022 guidance of approximately 3.0% sales growth, operating margin of 15.4%, and mid-single digit EPS growth. CEO Ted Decker cited strong demand for home improvement projects.

The Home Depot, the largest home improvement retailer globally, has scheduled its Second Quarter Earnings Conference Call for August 16, 2022, at 9 a.m. ET. Investors can access the live webcast through the company’s investor relations website. As of the end of the first quarter, The Home Depot operated 2,316 retail stores across the U.S., Puerto Rico, Canada, and Mexico, employing approximately 500,000 associates. The company is traded on the NYSE under the ticker HD and is a component of major indices like the Dow Jones and S&P 500.

The Home Depot, the largest home improvement retailer, has partnered with Hewlett Packard Enterprise (HPE) to enhance its networking capabilities using Aruba ESP and HPE GreenLake for Aruba. This initiative aims to deliver superior customer experiences by streamlining operations and improving connectivity in its U.S. stores. The new network will support advanced functionalities, boost speed and flexibility, and offer network-as-a-service (NaaS) benefits. With over 2,300 stores and 500,000 associates, this investment reflects The Home Depot's commitment to technology as a core driver of retail innovation.

The Home Depot announced a cash dividend of $1.90 per share for Q1 2022, payable on June 16, 2022.

Shareholders of record by the close of business on June 2, 2022 will receive the dividend. This marks the 141st consecutive quarter the company has issued a cash dividend. The Home Depot operates 2,316 retail stores and employs around 500,000 associates globally. The company is publicly traded on the NYSE under the ticker HD, and is part of the Dow Jones Industrial Average.

The Home Depot reported first-quarter fiscal 2022 sales of $38.9 billion, up 3.8% from last year. Comparable sales rose 2.2%, with U.S. comparable sales increasing 1.7%. Net earnings reached $4.2 billion, translating to $4.09 per diluted share, a 6.0% increase from $3.86 per diluted share in fiscal 2021. The company raised its fiscal 2022 guidance, expecting total and comparable sales growth of approximately 3.0%, operating margin of 15.4%, and diluted EPS growth in the mid-single digits. Home Depot operates 2,316 stores and employs around 500,000 associates.

The Home Depot has been awarded the 2022 ENERGY STAR Retail Partner of the Year for Sustained Excellence, marking the 11th time it has received this honor.

Since 2010, the company has reduced electricity consumption by 44% in its U.S. stores and aims for renewable energy to meet all its electricity needs by 2030. The Home Depot has helped customers save $2.8 billion on utility bills through ENERGY STAR products. Additionally, the company has received three other awards from the EPA, highlighting its commitment to sustainability and energy efficiency.

The Home Depot announced the return of its Kids Workshops to U.S. stores starting May 7, 2022. These workshops will occur on the first Saturday of each month, allowing families to engage in DIY projects. Previously moved to virtual offerings for safety, The Home Depot has donated over 1.6 million workshop kits during this period. The first project will be a Picket Fence Planter, with upcoming activities including a Constellation Viewer and Summer Camper. Participants will receive a kid-sized apron and project completion certificate.

The Home Depot has launched Home Depot Ventures, a $150 million venture capital fund aimed at investing in early-stage companies developing technologies to enhance customer experiences in home improvement. The fund seeks to simplify home ownership processes, enhance professional services for contractors, and drive operational excellence through innovative solutions. Home Depot has a history of successful investments in startups, including companies in the IoT and delivery sectors. The initiative is designed to provide substantial returns and foster business partnerships while aligning with the company's growth strategy.

The Home Depot, the leading home improvement retailer, announced its First Quarter Earnings Conference Call scheduled for May 17, 2022, at 9 a.m. ET. This event will be accessible via webcast, with archives available post-event. At the end of fiscal year 2021, the company operated 2,317 stores across the U.S., Canada, and Mexico, employing approximately 500,000 associates. The Home Depot is part of the Dow Jones Industrial Average and Standard & Poor's 500 index, ranking #18 on the 2021 Fortune 500.