Sector: Consumer Discretionary|Industry: Home Improvement Retail|Market Cap: $425.08B|Employees: 463.1K
Home Depot is the world's largest home improvement retailer, generating revenue primarily through sales of building materials, home improvement products, and lawn and garden products, as well as through various services such as installation and equipment rentals. The company maintains a strong market position due to its extensive network of stores and online presence, along with its low-cost provider status and strong brand recognition. Its stores are located throughout the U.S., Canada, and Mexico.
Net sales increased by 6.6% YoY to $40.2B in Q3 2024, primarily due to the $2.9B contribution from SRS. However, comparable sales decreased by 1.3%, reflecting a decline in both average ticket and customer transactions.
Gross profit margin decreased to 33.4% in Q3 2024 from 33.8% in Q3 2023, primarily due to the inclusion of SRS and lower shrink offset by higher transportation costs.
Diluted earnings per share decreased to $3.67 in Q3 2024 from $3.81 in Q3 2023, primarily due to lower net earnings.