Welcome to our dedicated page for Home Depot news (Ticker: HD), a resource for investors and traders seeking the latest updates and insights on Home Depot stock.
The Home Depot, Inc. (NYSE: HD) is a leading American multinational home improvement retailer. Founded in 1978, it has grown to become the largest home improvement specialty retailer in the world. The company operates more than 2,300 warehouse-format stores across the United States, Canada, and Mexico, offering a vast array of products that range from tools and construction materials to appliances and services, including fuel and transportation rentals.
Home Depot's stores provide customers with more than 30,000 products in-store and over 1 million products online. Its extensive product line caters to both DIY enthusiasts and professional contractors, featuring building materials, home improvement products, lawn and garden products, and decor items. The company also offers various services such as home improvement installations and tool and equipment rentals.
In 2015, Home Depot acquired Interline Brands, marking its entry into the maintenance, repair, and operations (MRO) business, which was further expanded with the acquisition of HD Supply in 2020. Additionally, the acquisition of The Company Store provided a foothold in the textile market, while Redi Carpet added multifamily flooring to its portfolio.
Despite a modest sales decline in 2023 following three years of significant growth, Home Depot continues to invest in its business operations. The company reported fiscal 2023 sales of $152.7 billion, a 3% decrease from fiscal 2022. Net earnings for fiscal 2023 stood at $15.1 billion, down from $17.1 billion in the previous year. In response, Home Depot has implemented several initiatives to enhance its business, including the creation of interconnected retail experiences and the expansion of its store network.
Home Depot recently announced a 7.7% increase in its quarterly dividend, highlighting its strong financial health and commitment to returning value to shareholders. The company also continues to strengthen its community engagement through initiatives like The Homer Fund, which has granted over $250 million to associates in need since 1999.
In terms of recent developments, Home Depot has entered into a definitive agreement to acquire SRS Distribution Inc., a leader in residential specialty trade distribution. This acquisition is expected to enhance Home Depot's capabilities in serving professional customers, adding significant value and expanding its market presence.
Furthermore, The Home Depot is actively involved in collegiate sports, having recently become an official corporate partner of the NCAA. The partnership includes rights across all 90 NCAA championships, aligning with Home Depot's busiest selling season and enhancing its engagement with sports fans and customers alike.
Home Depot is also committed to sustainability and community support, with initiatives like organic gardening products, native plants, and disaster relief efforts through The Home Depot Foundation. The company's Retool Your School program provides grants to Historically Black Colleges and Universities (HBCUs) for campus enhancements, further showcasing its dedication to community development.
DoorDash (NASDAQ: DASH) announced a new partnership with The Home Depot (NYSE: HD), making the world's largest home improvement retailer's products available for on-demand delivery through the DoorDash platform. The partnership enables delivery of home improvement essentials to both doorsteps and work sites in as little as one hour.
Through this collaboration, customers can purchase Home Depot products directly through the DoorDash app, offering enhanced convenience for both DIY enthusiasts and professional contractors. The service complements Home Depot's existing same-day and next-day delivery options.
This partnership is part of DoorDash's broader expansion into non-restaurant retail, with the platform now featuring over 115,000 non-restaurant stores in North America and offering nearly 2 million products across categories including Apparel, Home Improvement, and Arts and Crafts as of June 2024.
Uber Eats (UBER) has announced a strategic partnership with The Home Depot (HD) to provide nationwide delivery services through the Uber Eats app. Starting January 22, 2025, customers can order Home Depot products from over 2,000 store locations for on-demand or scheduled delivery.
The collaboration enables users to browse and purchase various home improvement items, including tools, building materials, and gardening supplies directly through the Uber Eats platform. The service is designed to serve both professional contractors and DIY enthusiasts, offering flexible delivery options to accommodate different schedules.
The partnership represents Uber's expansion into retail delivery services and complements Home Depot's existing e-commerce capabilities, including their same-day and next-day delivery services on homedepot.com. Customers can easily browse products, place orders, and track deliveries in real-time through the Uber Eats app.
The Home Depot has partnered with FIFA as the Official Home Improvement Retail Supporter for the FIFA World Cup 26™ in North America. The partnership will feature unique 'Built by The Home Depot' activations at FIFA Fan Festivals and stadiums across Canada, Mexico, and the USA, where the company operates 2,345 stores with over 465,000 associates.
The 2026 tournament will be the most inclusive FIFA World Cup™ ever, featuring 48 nations and 104 matches. Through its Orange Apron Media network, The Home Depot will offer supplier partners opportunities to participate in various FIFA World Cup activations. The company will also engage its associates and customers through volunteer opportunities and World Cup-related activities leading up to and during the tournament.
The Home Depot (NYSE: HD), the world's largest home improvement retailer, has announced a third-quarter cash dividend of $2.25 per share. The dividend will be paid on December 12, 2024, to shareholders of record as of November 27, 2024. This marks the company's 151st consecutive quarterly dividend payment. The company currently operates 2,345 retail stores and over 780 branches across the United States, its territories, Canada, and Mexico, employing more than 465,000 associates.
The Home Depot Foundation has announced a $10 million investment to help veterans age in place and prevent homelessness. This funding comes as the VA projects a 535% increase in veterans over 85 needing care in the next 20 years. The investment will support: 230 new or refurbished rental units, over 125 urgent home repairs, rental/mortgage assistance for 270 veterans, and 400 home adaptations plus seven custom smart homes for disabled veterans. This initiative is part of the Foundation's updated commitment of $750 million to veteran causes by 2030, following their achievement of surpassing $500 million invested since 2011.
Home Depot reported Q3 fiscal 2024 sales of $40.2 billion, up 6.6% year-over-year, despite comparable sales declining 1.3%. Operating income was $5.4 billion with a 13.5% margin, while net earnings were $3.6 billion ($3.67 per diluted share). The company updated its fiscal 2024 guidance, projecting total sales to increase approximately 4% but comparable sales to decline 2.5%. The 53rd week is expected to add $2.3 billion to total sales and contribute $0.30 to earnings per share. Home Depot operates 2,345 retail stores and over 780 branches across North America.
The Home Depot Foundation is investing $10 million to help veterans age in place and avoid homelessness. This funding supports the Foundation's goal of a $750 million investment by 2030. The initiative addresses the growing need for accessible housing for aging veterans, with the VA projecting a 535% increase in veterans over 85 needing care in the next 20 years. The funding will facilitate the creation of over 230 new or refurbished rental units, conduct 125 home repairs, provide financial relief to 270 veterans, and complete 400 home adaptations and 7 custom smart homes. The Home Depot Foundation has surpassed $500 million invested in veteran causes since 2011 and aims to impact 50,000 veterans by 2030. The Foundation and Team Depot will also undertake service projects nationwide to enhance the safety and accessibility of veterans' homes.
The Home Depot Foundation has launched its annual Operation Surprise campaign for November 2024, focusing on improving veteran housing accessibility and safety. The Foundation has pledged to invest $750 million in veteran causes by 2030, building upon over $500 million already contributed. Working with Team Depot and nonprofit partners, they will conduct hundreds of service projects nationwide around Veterans Day. Since 2011, Team Depot has completed over 1.6 million volunteer hours serving veterans, demonstrating their commitment to helping veterans age in place safely and comfortably.
The Home Depot (NYSE: HD) announced it will host its Third Quarter Earnings Conference Call on Tuesday, November 12, at 9 a.m. ET. The webcast will be available on the company's investor relations website and archived for later viewing. The company currently operates 2,340 retail stores and over 760 branches across multiple territories including the US, Canada, and Mexico, employing more than 465,000 associates.
The Home Depot has announced the winners of its 2024 Innovation Awards, recognizing products that have transformed home improvement. The Overall Award Winner is the Starlink Standard Kit, providing high-speed internet in remote locations. First Runner Up is Milwaukee FORGE Batteries and Super Charger, offering unmatched power and rapid charging. Second Runner Up is Wago Leverlock Connectors, streamlining wire installation.
The company also recognized several products with honorable mentions, including Feit White Filament LED Bulbs, Fluidmaster Super Flapper and Kit, Glacier Bay kitchen faucets and garbage disposals, Henry Roof Guard Enhanced Acrylic Roof Coating, Krosswood Doors Ready-to-Assemble Doors, Milwaukee M18 FUEL Outdoor Power Tools, Ryobi Lithium Power Scrubber, Scrub Daddy BBQ Tool, and Vigoro Watering Drip Kit.
Additionally, The Home Depot honored outstanding supplier partners in various categories and named Pratt Industries as Environmental Partner of the Year, Echo as Interconnected Partner of the Year, and Whirlpool as Marketing Partner of the Year.
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