Home Depot (NYSE:HD) gained Tuesday, after the company reiterated earnings decline projections for fiscal year 2024 of 7% to 13% year over year.
Sales and comparable sales are projected to decline between 2% and 5% compared to fiscal 2022. Operating margin rate to be between 14.3% and 14.0%
The company recognizes a tax rate of approximately 24.5%. Interest expense of approximately $1.8 billion. Diluted earnings-per-share-percent-decline between 7% and 13% compared to fiscal 2022.
CEO Ted Decker says, "While a lot has changed in the environment and our business since our last Investor and Analyst Conference, our objectives to grow market share and deliver exceptional shareholder value remain unchanged, and our culture and values remain our guideposts, Investments we've made over the last several years have further strengthened our distinct competitive advantages and enabled agility in our operating model."
At the end of the first quarter of fiscal 2023, the company operated a total of 2,324 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, Canada and Mexico . The Company employs approximately 475,000 associates.
HD shares improved $1.70 to $302.54.
