The Home Depot Announces Fourth Quarter and Fiscal 2020 Results

Fourth Quarter 2020
Sales for the fourth quarter of fiscal 2020 were $32.3 billion, an increase of $6.5 billion, or 25.1 percent from the fourth quarter of fiscal 2019. Comparable sales for the fourth quarter of fiscal 2020 increased 24.5 percent, and comparable sales in the U.S. increased 25.0 percent.

Net earnings for the fourth quarter of fiscal 2020 were $2.9 billion, or $2.65 per diluted share, compared with net earnings of $2.5 billion, or $2.28 per diluted share, in the same period of fiscal 2019. For the fourth quarter of fiscal 2020, diluted earnings per share increased 16.2 percent from the same period in the prior year. Net earnings for the fourth quarter and the fiscal year were negatively impacted by non-recurring, pre-tax expenses related to the completion of the acquisition of HD Supply Holdings, Inc. on December 24, 2020, which totaled approximately $110 million, or $0.09 per diluted share.

Fiscal 2020
Sales for fiscal 2020 were $132.1 billion, an increase of $21.9 billion, or 19.9 percent, from fiscal 2019. Comparable sales for fiscal 2020 increased 19.7 percent, and comparable sales in the U.S. increased 20.6 percent.

Net earnings for fiscal 2020 were $12.9 billion, or $11.94 per diluted share, compared with net earnings of $11.2 billion, or $10.25 per diluted share in fiscal 2019. For fiscal year 2020, diluted earnings per share increased 16.5 percent versus the prior year.

“The team demonstrated ongoing flexibility to operate effectively in a very challenging environment and deliver record-breaking sales and earnings. Our ability to grow the business by over $21 billion in fiscal 2020 is a testament to both the investments we have made in the business as well as our associates’ unwavering commitment to our customers,” said Craig Menear, chairman and CEO. “We continue to lean into these investments because we believe they are critical in enabling market share growth in any economic environment. I am proud of the many ways our associates lived our values by serving our customers, communities and each other during these unquestionably challenging times, and I would like to thank them and our supplier partners for their extraordinary efforts.”
details at: https://ir.homedepot.com/news-releases/2021/02-23-2021-110106097

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