What were the key takeaways from The Home Depot’s earnings call?

What is the revenue and EPS growth rate for The Home Depot year over year?

What were the key takeaways from The Home Depot's earnings call?

What guidance did The Home Depot's management provide for the next earnings period?

What is the market's earnings forecast for The Home Depot next quarter?

Did The Home Depot beat or miss consensus estimates last quarter?

What is The Home Depot's latest dividend and current dividend yield?

What does The Home Depot do and what are its main business segments?

- **Revenue Growth**: Q3 sales +3% YoY ($41.4B), but comps (+0.2%) miss due to storm absence and housing pressure.
- **Margin Headwinds**: FY2025 adjusted EPS expected to decline 5% YoY, driven by GMS integration costs and storm impact.
- **Strategic Moves**: GMS acquisition to boost Pro segment; online comps +11% YoY, faster delivery driving engagement.
- **Risks**: Housing market softness and consumer uncertainty weigh on home improvement demand; 2024 storm-related sales to lap in Q4.

**【CEO Summary Section】**
- Q3 2025 sales: $41.4 billion (+3% YoY), comps +0.2% (U.S. +0.1%). Missed expectations due to lack of storms and housing pressure.
- Acquired GMS, a specialty building products distributor, to enhance Pro segment capabilities.
- Underlying demand stable sequentially, but storm-impacted categories (e.g., roofing, plywood) underperformed.
- Reiterated focus on controlling costs and investing in customer value proposition.

**【CFO Financial Commentary】**
- Adjusted EPS: $3.74 (-1.1% YoY). GAAP EPS: $3.62 (-1.4% YoY).
- Gross margin: 33.4% (flat YoY). Operating margin: 12.9% (-0.6% YoY) due to GMS transaction costs and storm impact.
- Inventory: $26.2 billion (+9.1% YoY), driven by investments in faster delivery and GMS integration.
- FY2025 guidance: Total sales +3%, comps slightly positive, adjusted EPS -5% YoY.

**【Q&A Highlights】**
- **Storm Impact**: Q3 comps -1.5% in October due to lack of storms; Q4 will lap 14 weeks of storm-related sales from 2024.
- **Margin Dilution**: GMS adds ~20bps to operating margin dilution; SRS adds ~40bps, offset by ~50bps from transaction costs.
- **Pro Growth**: SRS comps flat Q3, but taking share in roofing market; GMS expected to contribute $2 billion in FY2025 sales.
- **Consumer Trends**: Housing turnover at 40-year low (2.9%), home prices adjusting in key markets, but DIY demand resilient.
- **Cross-Selling**: SRS and GMS teams sharing leads, e.g., roofing sales to SRS and drywall to GMS, driving incremental Pro sales.


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