Overview

• Home Depot reported Q1 FY2025 revenue of $39.86 billion, a 9.4% year-over-year increase, but adjusted EPS fell short at $3.56 versus the $3.60 consensus.
• Comparable sales declined 0.3% globally but rose 0.2% in U.S. stores, reflecting steady demand for smaller, seasonal projects over major renovations.
• The company reaffirmed its full-year guidance, projecting 2.8% total sales growth, ~1% comparable sales growth, and a 2% decline in adjusted EPS.
• CFO Richard McPhail announced that Home Depot will not raise prices in response to tariffs, citing supply chain diversification and strong supplier partnerships.
• More than 50% of Home Depot's products are now sourced domestically, with no single foreign country expected to account for over 10% of purchases within a year.