株探米国株
日本語 英語
エドガーで原本を確認する
false000035495000003549502022-11-152022-11-15

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM 8-K
__________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 15, 2022
__________________
THE HOME DEPOT, INC.
(Exact Name of Registrant as Specified in Charter)
 __________________
Delaware 1-8207 95-3261426
(State or Other Jurisdiction
of Incorporation)		    (Commission
File Number)		    (IRS Employer
Identification No.)
2455 Paces Ferry Road, Atlanta, Georgia 30339
(Address of Principal Executive Offices) (Zip Code)
(770) 433-8211
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
  __________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading symbol Name of each exchange on which registered
Common Stock, $0.05 Par Value Per Share HD New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


 
Item 2.02.     Results of Operations and Financial Condition.
On November 15, 2022, The Home Depot, Inc. (the “Company”) issued a press release, attached as Exhibit 99.1 and incorporated herein by reference, announcing the Company’s financial results for the fiscal quarter ended October 30, 2022.
The information contained in this Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 18. Furthermore, the information contained in this Item 2.02 and Exhibit 99.1 shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.
Item 9.01.     Financial Statements and Exhibits.
 
Exhibit   Description
 
104 The cover page of this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).
2

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
THE HOME DEPOT, INC.
By: /s/ Richard V. McPhail
Name: Richard V. McPhail
      Title: Executive Vice President and Chief Financial Officer
Date: November 14, 2022

3
EX-99.1 2 hd_ex991x10302022xactive.htm EXHIBIT 99.1 Document

Exhibit 99.1
hdlogoa02a01a01a01a01a21.jpg
The Home Depot Announces Third Quarter Results;
Reaffirms Fiscal 2022 Guidance


ATLANTA, Nov. 15, 2022 -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $38.9 billion for the third quarter of fiscal 2022, an increase of $2.1 billion, or 5.6 percent from the third quarter of fiscal 2021. Comparable sales for the third quarter of fiscal 2022 increased 4.3 percent, and comparable sales in the U.S. increased 4.5 percent.

Net earnings for the third quarter of fiscal 2022 were $4.3 billion, or $4.24 per diluted share, compared with net earnings of $4.1 billion, or $3.92 per diluted share, in the same period of fiscal 2021, representing an 8.2 percent increase in diluted earnings per share.

“We delivered another solid performance in the third quarter, driven by strength in project-related categories across the business,” said Ted Decker, chair, president and CEO. “Our team has done a fantastic job serving our customers while continuing to navigate a challenging and dynamic environment. I would like to thank them and our many partners for their hard work and dedication to our customers.”

Fiscal 2022 Guidance

The Company reaffirmed fiscal 2022 guidance of:

•Comparable sales growth of approximately 3.0 percent
•Operating margin of approximately 15.4 percent
•Net interest expense of approximately $1.6 billion
•Tax rate of approximately 24.6 percent
•Diluted earnings-per-share-percent-growth to be mid-single digits

The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations.

At the end of the third quarter, the Company operated a total of 2,319 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

###




Certain statements contained herein constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the impact of the COVID-19 pandemic and the related recovery on our business, results of operations, cash flows and financial condition (which, among other things, may affect many of the items listed below); the demand for our products and services; net sales growth; comparable sales; the effects of competition; our brand and reputation; implementation of store, interconnected retail, supply chain and technology initiatives; inventory and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans and consumer credit; impact of tariffs; issues related to the payment methods we accept; demand for credit offerings; management of relationships with our associates, potential associates, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; international trade disputes, natural disasters, climate change, public health issues (including pandemics and quarantines, related shut-downs and other governmental orders, and similar restrictions, as well as subsequent re-openings), cybersecurity events, military conflicts or acts of war, and other business interruptions that could disrupt operation of our stores, distribution centers and other facilities, our ability to operate or access communications, financial or banking systems, or supply or delivery of, or demand for, the Company’s products or services; our ability to meet environmental, social and governance (ESG) goals; continuation or suspension of share repurchases; net earnings performance; earnings per share; dividend targets; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; commodity or other price inflation and deflation; our ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims and litigation, including compliance with related settlements; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of regulatory changes, including changes to tax laws and regulations; store openings and closures; guidance for fiscal 2022 and beyond; financial outlook; and the impact of acquired companies on our organization and the ability to recognize the anticipated benefits of those acquisitions.

Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 30, 2022 and also may be described from time to time in future reports we file with the Securities and Exchange Commission (SEC). There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to differ materially from our expectations.

Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our filings with the SEC and in our other public statements.

For more information, contact:
Financial Community News Media
Isabel Janci Sara Gorman
Vice President of Investor Relations and Treasurer Senior Director of Corporate Communications
770-384-2666 770-384-2852
isabel_janci@homedepot.com sara_gorman@homedepot.com



THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
  Three Months Ended Nine Months Ended
in millions, except per share data October 30,
2022		 October 31,
2021		 % Change October 30,
2022		 October 31,
2021		 % Change
Net sales $ 38,872  $ 36,820  5.6  % $ 121,572  $ 115,438  5.3  %
Cost of sales 25,648  24,257  5.7  80,720  76,468  5.6 
Gross profit 13,224  12,563  5.3  40,852  38,970  4.8 
Operating expenses:
Selling, general and administrative 6,468  6,168  4.9  19,735  18,975  4.0 
Depreciation and amortization 608  600  1.3  1,830  1,780  2.8 
Total operating expenses 7,076  6,768  4.6  21,565  20,755  3.9 
Operating income 6,148  5,795  6.1  19,287  18,215  5.9 
Interest and other (income) expense:
Interest income and other, net (7) (15) (53.3) (12) (26) (53.8)
Interest expense 413  341  21.1  1,166  1,006  15.9 
Interest and other, net 406  326  24.5  1,154  980  17.8 
Earnings before provision for income taxes
 5,742  5,469  5.0  18,133  17,235  5.2 
Provision for income taxes 1,403  1,340  4.7  4,390  4,154  5.7 
Net earnings $ 4,339  $ 4,129  5.1  % $ 13,743  $ 13,081  5.1  %
Basic weighted average common shares 1,020  1,049  (2.8) % 1,024  1,059  (3.3) %
Basic earnings per share $ 4.25  $ 3.94  7.9  $ 13.42  $ 12.35  8.7 
Diluted weighted average common shares 1,023  1,053  (2.8) % 1,028  1,063  (3.3) %
Diluted earnings per share $ 4.24  $ 3.92  8.2  $ 13.37  $ 12.31  8.6 
Three Months Ended   Nine Months Ended
Selected Sales Data (1)
 October 30,
2022		 October 31,
2021		 % Change October 30,
2022		 October 31,
2021		 % Change
Customer transactions (in millions) 409.8  428.2  (4.3) % 1,287.9  1,357.2  (5.1) %
Average ticket $ 89.67  $ 82.38  8.8  $ 90.45  $ 82.43  9.7 
Sales per retail square foot
 $ 618.50  $ 587.28  5.3  $ 646.81  $ 615.98  5.0 
 —————
(1)Selected Sales Data does not include results for HD Supply.



 





THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
in millions October 30,
2022		 October 31,
2021		 January 30,
2022
Assets
Current assets:
Cash and cash equivalents $ 2,462  $ 5,067  $ 2,343 
Receivables, net 3,732  3,533  3,426 
Merchandise inventories 25,719  20,582  22,068 
Other current assets 1,768  1,284  1,218 
Total current assets 33,681  30,466  29,055 
Net property and equipment 25,240  24,935  25,199 
Operating lease right-of-use assets 6,523  5,903  5,968 
Goodwill 7,434  7,445  7,449 
Other assets 3,988  4,282  4,205 
Total assets $ 76,866  $ 73,031  $ 71,876 
Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt $ —  $ —  $ 1,035 
Accounts payable 12,402  13,375  13,462 
Accrued salaries and related expenses 1,934  2,028  2,426 
Current installments of long-term debt 1,224  2,436  2,447 
Current operating lease liabilities 942  827  830 
Other current liabilities 7,778  8,237  8,493 
Total current liabilities 24,280  26,903  28,693 
Long-term debt, excluding current installments 41,740  36,712  36,604 
Long-term operating lease liabilities 5,807  5,290  5,353 
Other long-term liabilities 3,741  3,091  2,922 
Total liabilities 75,568  71,996  73,572 
Total stockholders’ equity (deficit) 1,298  1,035  (1,696)
Total liabilities and stockholders’ equity $ 76,866  $ 73,031  $ 71,876 


THE HOME DEPOT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
  Nine Months Ended
in millions October 30,
2022		 October 31,
2021
Cash Flows from Operating Activities:
Net earnings $ 13,743  $ 13,081 
Reconciliation of net earnings to net cash provided by operating activities:
Depreciation and amortization 2,216  2,128 
Stock-based compensation expense 286  312 
Changes in working capital (6,579) (2,199)
Changes in deferred income taxes 129  (73)
Other operating activities 226  137 
Net cash provided by operating activities 10,021  13,386 
Cash Flows from Investing Activities:
Capital expenditures (2,216) (1,737)
Payments for businesses acquired, net —  (416)
Other investing activities (29) 21 
Net cash used in investing activities (2,245) (2,132)
Cash Flows from Financing Activities:
Repayments of short-term debt, net (1,035) — 
Proceeds from long-term debt, net of discounts 6,942  2,979 
Repayments of long-term debt (2,423) (1,480)
Repurchases of common stock (5,136) (10,374)
Proceeds from sales of common stock 146  190 
Cash dividends (5,856) (5,264)
Other financing activities (185) (160)
Net cash used in financing activities (7,547) (14,109)
Change in cash and cash equivalents 229  (2,855)
Effect of exchange rate changes on cash and cash equivalents (110) 27 
Cash and cash equivalents at beginning of period 2,343  7,895 
Cash and cash equivalents at end of period $ 2,462  $ 5,067