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The Home Depot, Inc. reports developments tied to its home improvement retail business, Pro contractor strategy and specialty trade distribution platform. The company operates warehouse-format stores and digital channels for building materials, home improvement products, lawn and garden products, decor, installation services, and tool and equipment rentals across the United States, Canada and Mexico.
Recurring news for HD includes quarterly earnings calls, investor presentations, dividend and guidance updates, technology leadership, marketing partnerships, and acquisitions that expand Pro-facing distribution. The SRS Distribution subsidiary adds coverage in roofing, building products, interior and construction products, landscape, pool and HVAC distribution, extending Home Depot's role beyond retail stores into trade-focused supply channels.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced that Ted Decker, chair, president and CEO, and Billy Bastek, executive vice president of merchandising, will present at the Goldman Sachs 31st Annual Global Retailing Conference. The presentation is scheduled for September 4, 2024, at 9:35 a.m. ET and will be webcast live on The Home Depot's investor relations website.
The webcast will be archived and available approximately one hour after the live event concludes. As of the second quarter, The Home Depot operates 2,340 retail stores and over 760 branches across the United States, Canada, and Mexico, employing more than 465,000 associates. The company's stock is traded on the NYSE and is included in the Dow Jones industrial average and S&P 500 index.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced a second quarter cash dividend of $2.25 per share. This dividend will be payable on September 12, 2024, to shareholders of record as of the close of business on August 29, 2024. This marks the 150th consecutive quarter that the company has paid a cash dividend, demonstrating a consistent commitment to shareholder returns.
As of the end of the second quarter, Home Depot operated 2,340 retail stores and over 760 branches across various locations, including all 50 U.S. states, Canada, and Mexico. The company employs more than 465,000 associates and is included in both the Dow Jones Industrial Average and the S&P 500 index.
The Home Depot (NYSE: HD) reported Q2 fiscal 2024 results with sales of $43.2 billion, up 0.6% year-over-year, including $1.3 billion from the recent SRS Distribution acquisition. Comparable sales decreased 3.3% overall and 3.6% in the U.S. Operating income was $6.5 billion with a 15.1% margin. Net earnings were $4.6 billion, or $4.60 per diluted share. The company updated its fiscal 2024 guidance, projecting total sales growth between 2.5% and 3.5%, including a 53rd week, and comparable sales decline between 3% and 4%. The guidance reflects weaker consumer demand due to higher interest rates and economic uncertainty.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced its Second Quarter Earnings Conference Call scheduled for Tuesday, August 13, at 9 a.m. ET. A webcast will be available on the company's investor relations website, with a replay accessible from noon on the same day.
As of the first quarter of fiscal year 2024, The Home Depot operates 2,337 retail stores across all 50 U.S. states, various territories, Canada, and Mexico. The company employs over 465,000 associates and is included in both the Dow Jones Industrial Average and S&P 500 index.
The Home Depot is celebrating 25 years of The Homer Fund, a nonprofit that provides financial assistance to associates facing unforeseen hardships. Since its inception, the fund has awarded $267 million to 185,000 associate families for basic living expenses. This milestone reflects Home Depot's commitment to supporting its workforce, which has contributed to the company's recent recognition on Fortune's Most Admired Companies and Newsweek's Most Trusted Brands lists.
The impact of The Homer Fund is illustrated through the story of Latoya, a 22-year store associate who received support for living expenses and specialized daycare costs when her son was hospitalized. This exemplifies how the fund helps associates navigate challenging personal circumstances while maintaining their employment.
The Home Depot Foundation is investing $9 million to provide housing solutions for over 3,400 homeless veterans. This funding will support the construction of 300 new housing units and the repair of around 200 additional units across the nation. Collaborations with national and local nonprofits will facilitate these efforts. The initiative also includes landlord incentive programs that have seen success in cities like Los Angeles and Chicago. The Foundation aims to counter the rising number of homeless veterans, which was recorded at 35,000 on any given night. Additional funding will support research on housing needs for aging, rural, low-income, and disabled veterans.
The Home Depot has finalized the acquisition of SRS Distribution for $18.25 billion. SRS specializes in residential specialty trade distribution for professionals like roofers, landscapers, and pool contractors. Announced on March 28, 2024, the deal aims to enhance The Home Depot's market reach and service capabilities.
According to CEO Ted Decker, SRS will fit well with The Home Depot's growth strategy, adding value through its strong vision and leadership. The acquisition elevates The Home Depot's total addressable market to around $1 trillion, increasing by $50 billion. The synergy between the two companies aims to bolster service quality and strengthen The Home Depot's leadership in multiple specialty trade verticals.
The Home Depot (NYSE: HD) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for its pending acquisition of SRS Distribution Inc. has expired as of 11:59 p.m. on June 13, 2024.
This expiration satisfies a important condition for the completion of the transaction. The acquisition is expected to finalize around June 18, 2024, pending the satisfaction or waiver of customary closing conditions.
The Home Depot Foundation is enhancing disaster preparedness in remote U.S. areas ahead of the hurricane season. Following a year marked by $28 billion in weather-related disasters, the Foundation collaborates with nonprofit organizations to stage supplies for immediate and long-term disaster response. Key initiatives include a partnership with Mercy Corps' Caribbean Resilience Initiative to support Puerto Rico and the U.S. Virgin Islands, as well as efforts to expand emergency food distribution in Alaska. The goal is to equip local organizations for quick and effective disaster response.
The Home Depot Foundation has committed over $6 million to various national and local nonprofits to aid communities in preparing for and recovering from natural disasters. This initiative focuses on equipping response organizations in remote areas with necessary supplies and equipment for timely disaster response. Key partners include Mercy Corps in the Caribbean, expanding emergency food distribution in Alaska, and ongoing support for long-term recovery in areas affected by wildfires in California and historic flooding in Kentucky. Additional support includes grants for organizations like Operation Blessing, American Red Cross, and World Central Kitchen.