STOCK TITAN

Home Depot, Inc. - HD STOCK NEWS

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.

Rhea-AI Summary

The Home Depot has launched a Military Moving Hub to support U.S. Armed Forces and their families during relocations. Announced on May 15, 2024, to coincide with Armed Forces Day, the program offers exclusive discounts and resources tailored to military personnel. The hub provides information to help military families save time and money on Personally Procured Moves (PPM) and features a downloadable permanent change of station (PCS) checklist. Military families, who often relocate every 2-3 years, can access moving truck rentals with a 15% discount and a 10% discount on eligible purchases year-round. The Home Depot also partners with Military Exchange Services for tax-free shopping on major appliances. This initiative is part of The Home Depot's ongoing commitment to veteran causes, with significant investments planned through The Home Depot Foundation.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.4%
Tags
none
-
Rhea-AI Summary

The Home Depot reported its fiscal 2024 first-quarter results with sales of $36.4 billion, down 2.3% year-over-year. Comparable sales fell 2.8%, with U.S. comparable sales down 3.2%. Earnings were $3.6 billion, or $3.63 per diluted share, compared to $3.9 billion, or $3.82 per diluted share, a year prior. The company reaffirmed its fiscal 2024 guidance, projecting 1.0% sales growth and a comparable sales decline of 1.0%. It also announced a definitive agreement to acquire SRS Distribution Inc. but noted the guidance does not account for this acquisition. The 53rd week is expected to add $2.3 billion in sales and $0.30 in EPS. The Home Depot operates 2,337 retail stores globally and employs 465,000 associates.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.13%
Tags
-
Rhea-AI Summary

The Home Depot Foundation commits up to $300,000 to support tornado and severe flooding relief efforts in various states impacted by recent natural disasters. They have partnered with several organizations to provide immediate assistance and long-term recovery efforts. The Home Depot is actively involved in distributing emergency supplies and support to affected communities.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.58%
Tags
none
Rhea-AI Summary

The Home Depot Foundation supports U.S. Army Ranger MSG Cedric King, a double amputee, by providing a specially adapted smart home. King, a decorated veteran, now motivates others with his story. The Home Depot has partnered to build over 90 smart homes for combat-wounded veterans since 2011.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.07%
Tags
none
-
Rhea-AI Summary

The Home Depot, the world's largest home improvement retailer, will host its First Quarter Earnings Conference Call on May 14 at 9 a.m. ET. The company operates 2,335 retail stores and employs approximately 465,000 associates. The stock is traded on NYSE under the symbol 'HD'.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.77%
Tags
conferences earnings
-
Rhea-AI Summary
The Home Depot has been awarded the 2024 ENERGY STAR Partner of the Year for Sustained Excellence by the U.S. Environmental Protection Agency. This award highlights the company's strong commitment to energy efficiency and environmental stewardship. The Home Depot has consistently shown exceptional leadership in promoting and selling ENERGY STAR certified products, earning them the prestigious Sustained Excellence Award.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.77%
Tags
none
Rhea-AI Summary
The Home Depot is embracing a circular economy by repurposing waste materials like plastic pots, plastic wrap, and EPS foam into useful products. Product circularity reduces natural resource use, minimizes waste, and appeals to environmentally conscious customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.22%
Tags
none
-
Rhea-AI Summary
The Home Depot celebrates 15 years of Retool Your School with Morehouse College by awarding $3 million in grants to 42 Historically Black Colleges and Universities. Morehouse College uses funds to create an Innovation Lounge. Retool Your School program has invested over $12 million in campus renovations since 2009. For more information, visit RetoolYourSchool.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.02%
Tags
none
-
Rhea-AI Summary
The Home Depot awards 42 HBCUs with nearly $3 million in grants for campus enhancements at the annual Retool Your School Awards Celebration. Albany State University, South Carolina State University, and Paine College win $150,000 each. Since 2009, the program has invested over $12 million in financial support for HBCUs, fostering creativity and collaboration.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.3%
Tags
none
Rhea-AI Summary
Google Cloud and The Home Depot extend their partnership to enhance customer experience and optimize operations using AI capabilities. The collaboration aims to improve inventory management, supply chain efficiency, and gain insights into customer preferences.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.91%
Tags
none

FAQ

What is the current stock price of Home Depot (HD)?

The current stock price of Home Depot (HD) is $396.14 as of December 24, 2024.

What is the market cap of Home Depot (HD)?

The market cap of Home Depot (HD) is approximately 393.5B.

What does Home Depot sell?

Home Depot sells a wide range of products including tools, construction materials, appliances, home improvement products, lawn and garden products, and decor items. They also offer services like home improvement installations and tool and equipment rentals.

How many stores does Home Depot operate?

Home Depot operates over 2,300 warehouse-format stores across the United States, Canada, and Mexico.

What recent acquisitions has Home Depot made?

Home Depot acquired Interline Brands in 2015, HD Supply in 2020, and recently announced a definitive agreement to acquire SRS Distribution Inc.

What is The Homer Fund?

The Homer Fund is an initiative by Home Depot that has granted over $250 million to more than 180,000 associates in need since 1999.

How is Home Depot involved in sports sponsorships?

Home Depot is an official corporate partner of the NCAA, with rights across all 90 NCAA championships. They also have a long-standing commitment to collegiate sports, including a partnership with CBS Sports' college football coverage.

What sustainability initiatives does Home Depot have?

Home Depot offers organic gardening products, native plants, and partners with local growers to support environmentally beneficial practices. They also engage in disaster relief and community support through The Home Depot Foundation.

How did Home Depot perform financially in 2023?

In fiscal 2023, Home Depot reported sales of $152.7 billion, a 3% decrease from fiscal 2022. Net earnings were $15.1 billion, compared to $17.1 billion in the previous year.

Does Home Depot offer any financial benefits to shareholders?

Yes, Home Depot recently announced a 7.7% increase in its quarterly dividend to $2.25 per share, which equates to an annual dividend of $9.00 per share.

What is the Retool Your School program?

The Retool Your School program by Home Depot provides grants to Historically Black Colleges and Universities (HBCUs) for campus enhancements. Since its inception in 2009, the program has invested more than $12 million in financial support.

How many employees does Home Depot have?

Home Depot employs approximately 465,000 associates.

Home Depot, Inc.

NYSE:HD

HD Rankings

HD Stock Data

393.51B
992.59M
0.06%
72.19%
0.97%
Home Improvement Retail
Retail-lumber & Other Building Materials Dealers
Link
United States of America
ATLANTA