Home Depot (NYSE: HD) reported Q1 EPS of $3.63, $0.03 better than the analyst estimate of $3.60. Revenue for the quarter came in at $36.42 billion versus the consensus estimate of $36.66 billion.

The company reaffirms its fiscal 2024 guidance, which includes 53 weeks of operating results. In addition, in March, the Company entered into a definitive agreement to acquire SRS Distribution Inc. (SRS). Since the acquisition has not closed, the following guidance does not reflect any impacts from the SRS acquisition:

Total sales growth of approximately 1.0%, including the 53rd week

53rd week projected to add approximately $2.3 billion to total sales

Comparable sales to decline approximately 1.0% for the 52-week period
Approximately 12 new stores
Gross margin of approximately 33.9%
Operating margin of approximately 14.1%
Tax rate of approximately 24.5%
Net interest expense of approximately $1.8 billion
53-week diluted earnings-per-share-percent growth of approximately 1.0%

53rd week expected to contribute approximately $0.30 of diluted earnings per share

For earnings history and earnings-related data on Home Depot (HD) click here.