Home Depot's Q4 Performance: Revenue And EPS Beat, Dividend Hike And More
Portfolio Pulse from Anusuya Lahiri
Home Depot Inc (NYSE:HD) reported a Q4 FY23 sales decline of 2.9% year-on-year to $34.79 billion, surpassing analyst estimates. EPS was $2.82, beating the consensus of $2.77. Despite these beats, the stock price declined. The company saw a decrease in customer transactions and comparable sales. Operating income fell 12.8% to $4.1 billion, with operating expenses up 2.7%. Home Depot announced a 7.7% dividend increase to $2.25 per share. For 2024, it forecasts a 1% sales growth and EPS growth, slightly below consensus estimates. Analysts have a positive outlook, with an average 12-month price target of $374.0.

February 20, 2024 | 12:35 pm
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Home Depot reported higher-than-expected Q4 FY23 sales and EPS, announced a dividend increase, but expects modest growth in 2024. Analysts remain positive on the stock.
Despite the short-term stock price decline, the earnings and sales beat, coupled with a dividend increase, signal strong fundamentals. The positive analyst outlook and price target adjustments suggest potential for stock appreciation. However, the cautious 2024 outlook tempers expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100