ATLANTA — The Home Depot, the world's largest home improvement retailer, reported fourth quarter and fiscal 2021 results on Feb. 22.
Fourth Quarter 2021
Sales for the fourth quarter of fiscal 2021 were $35.7 billion, an increase of $3.5 billion, or 10.7 percent from the fourth quarter of fiscal 2020. Comparable sales for the fourth quarter of fiscal 2021 increased 8.1 percent, and comparable sales in the U.S. increased 7.6 percent.
Net earnings for the fourth quarter of fiscal 2021 were $3.4 billion, or $3.21 per diluted share, compared with net earnings of $2.9 billion, or $2.65 per diluted share, in the same period of fiscal 2020. For the fourth quarter of fiscal 2021, diluted earnings per share increased 21.1 percent from the same period in the prior year.
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Fiscal 2021
Sales for fiscal 2021 were $151.2 billion, an increase of $19.0 billion, or 14.4 percent, from fiscal 2020. Comparable sales for fiscal 2021 increased 11.4 percent, and comparable sales in the U.S. increased 10.7 percent.
Net earnings for fiscal 2021 were $16.4 billion, or $15.53 per diluted share, compared with net earnings of $12.9 billion, or $11.94 per diluted share in fiscal 2020. For fiscal year 2021, diluted earnings per share increased 30.1 percent versus last year.
"Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales," said Craig Menear, chairman and CEO. "Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates' relentless focus on our customers. I would like to thank all of our associates, as well as our supplier partners, for their hard work and dedication to serving our customers, communities and each other."
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Fiscal 2022 Guidance
The company's fiscal 2022 guidance assumes the run-rate of dollar demand it has observed over the last two quarters continues through fiscal 2022. This dollar run-rate is adjusted for the company's historical seasonality to calculate its sales outlook for 2022.
Fiscal 2022 Guidance:
- Sales growth and comparable sales growth to be slightly positive
- Operating margin approximately flat with fiscal 2021
- Net interest expense of approximately $1.5 billion
- Tax rate of approximately 24.6 percent
- Diluted earnings-per-share-growth to be low single digits
