Q2 adj EPS 4.67 usd vs 4.68 (Il Sole 24 Ore Radiocor) - New York, 13 Aug - The US home improvement retailer Home Depot reported sales of 43.2 billion dollars for the second quarter ended July 28, up 0.6% year on year thanks to the acquisition of SRS Distribution which contributed 1.3 billion dollars.

Comparable sales decreased 3.3%, with comparable sales in the US down 3.6%.

Operating income for the quarter was 6.5 billion dollars, with an operating margin of 15.1%, compared with 6.6 billion and an operating margin of 15.4% a year earlier.

The adjusted operating income was 6.6 billion dollars, representing an operating margin of 15.3%, compared with 6.6 billion and a margin of 15.5%.

Net earnings were 4.6 billion dollars, or 4.60 dollars per diluted share, compared with net earnings of 4.7 billion, or 4.65 dollars per diluted share, in the same period of fiscal 2023.

Adjusted diluted earnings per share were 4.67 dollars, down from 4.68 dollars.

"The underlying long-term fundamentals supporting home improvement demand are strong," said Ted Decker, chair, president and CEO. "During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly, resulting in weaker spend across home improvement projects. However, the team continued to navigate this unique environment while executing at a high level.".

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(RADIOCOR) 13-08-24 12:47:00 (0292) 5 NNNN