Today's conference will begin at 8:30 a.m. ET and will be available in its entirety through a live webcast and replay at ir.homedepot.com/events-and-presentations.
During today's conference, the company will discuss how it is uniquely positioned to grow market share and deliver shareholder value through its strategy to: drive core and culture, deliver a frictionless interconnected experience, and win the pro.
"We are focused on growing sales and delivering exceptional shareholder returns, supported by our culture and values," said Ted Decker, chair, president, and CEO. "The investments we've made over the last several years have further strengthened our distinct competitive advantages and position us well to grow share in an approximately $1.1 trillion total addressable market."
Fiscal Year 2025 Guidance
The company reaffirms its fiscal 2025 guidance, a 52-week year compared to fiscal 2024, a 53-week year:
Total sales growth of approximately 3%
GMS expected to contribute approximately $2 billion in incremental sales
Comparable sales growth to be slightly positive for the comparable 52-week period
Approximately 12 new stores
Gross margin of approximately 33.2%
Operating margin of approximately 12.6%
Adjusted(1) operating margin of approximately 13.0%
Tax rate of approximately 24.5%
Net interest expense of approximately $2.3 billion
Diluted earnings-per-share to decline approximately 6% from $14.91 in fiscal 2024
Adjusted(1) diluted earnings-per-share to decline approximately 5% from $15.24 in fiscal 2024
Capital expenditures of approximately 2.5% of total sales
(1) The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). As used in this release, adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are non-GAAP financial measures. Refer to the end of this release for an explanation of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures.
Preliminary Fiscal Year 2026 Outlook
Today, the company is providing a preliminary outlook for fiscal 2026:
Home improvement market in a range between -1% to +1%
Comparable sales growth of approximately flat to 2%
Total sales growth of approximately 2.5% to 4.5%
Operating margin of approximately 12.4% to 12.6%
Adjusted(1) operating margin of approximately 12.8% to 13.0%
Diluted earnings-per-share to increase approximately flat to 4%
Adjusted(1) diluted earnings-per-share to increase approximately flat to 4%
Market Recovery Case
Today, the company is also providing a market recovery case:
Total sales growth of approximately 5% to 6%
Total comparable sales growth of approximately ...
