Home Depot (NYSE: HD) reported fourth quarter 2023 earnings results today.
Sales were $34.8 billion, down 2.9% from the same quarter a year ago. Comparable sales decreased 3.5%.
Net earnings were $2.8 billion, or $2.82 per share, compared to $3.4 billion, or $3.30 per share, last year.
Both revenue and earnings beat estimates.
For fiscal year 2024, the company expects total sales growth of approx. 1% including the 53rd week, comparable sales to decline approx. 1% for the 52-week period, and 53-week EPS percent growth of approx. 1%.
The company’s board of directors approved a 7.7% increase in its quarterly dividend to $2.25 per share, which equates to an annual dividend of $9.00 per share. The dividend is payable on March 21, 2024, to shareholders of record as of March 7, 2024.
The stock was down over 2% in premarket hours on Tuesday.
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