Home Depot's Q4 earnings exceeded expectations, but 2024 sales guidance disappointed investors, projecting a 1% decline in comparable sales.
Home Depot's Q4 earnings topped expectations, but its sales guidance for 2024 disappointed investors. The company reported a 2.9% decrease in net sales to $34.8 billion for Q4 2023, and a 3.5% drop in comparable sales. Home Depot's operating margin decreased 135 bps Y/Y to 11.9%. The retailer projects a 1% decline in comparable sales in 2024, as customers defer large projects and big-ticket purchases due to high mortgage rates and inflation.
February 20, 2024
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