Home Depot Inc. on Tuesday reported sales of $34.8 billion in the fourth quarter of fiscal 2023, marking a decline of 2.9% on an annual basis. Net earnings came in at $2.8 billion, or $2.82 per diluted share (EPS) in the corresponding period, decreasing by 17% and 14.5% year-on-year, respectively. The company's gross profit decreased by 3.5% compared to the same quarter in 2022 to come in at $11.5 billion.
Full-year 2023 reported sales were $152.7 billion, decreasing 3% compared to the 2022 figure. Net earnings fell 11% to $15.1 billion, while its diluted earnings per share decreased 9.5%, to stand at $15.11.
"During fiscal 2023, we focused on several initiatives to strengthen the business while also staying true to our strategic investments of creating the best interconnected experience, growing our pro wallet share through our unique ecosystem of capabilities, and building new stores," President and CEO Ted Decker said. Following the release of the report, The Home Depot's shares rose by 1.75% in premarket trading.
