Home Depot
Q1 2022 Earnings Call
May 17, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to The Home Depot first quarter 2022 earnings call. [Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Isabel Janci. Please go ahead.
Isabel Janci -- Vice President, Investor Relations
Thank you, Christine, and good morning, everyone. Welcome to Home Depot's first quarter 2022 earnings call. Joining us on our call today are Ted Decker, CEO and president; Jeff Kinnaird, executive vice president of merchandising; and Richard McPhail, executive vice president and chief financial officer. Following our prepared remarks, the call will be open for questions.
Questions will be limited to analysts and investors. [Operator instructions] If we are unable to get to your question during the call, please call our Investor Relations department at (770) 384-2387. Before I turn the call over to Ted, let me remind you that today's press release and the presentations made by our executives include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections.
These risks and uncertainties include, but are not limited to, the factors identified in the press release and in our filings with the Securities and Exchange Commission. Today's presentations will also include certain non-GAAP measures. Reconciliation of these measures is provided on our website. Now let me turn the call over to Ted.
Ted Decker -- Chief Operating Officer
Thank you, Isabel, and good morning, everyone. We appreciate you joining us on the call this morning. Fiscal 2022 is off to a strong start. Sales for the first quarter were $38.9 billion, up 3.8% from the same period last year.
Comp sales were up 2.2% from the same period last year, and our U.S. stores had positive comps of 1.7%. Diluted earnings per share were $4.09 in the first quarter, up 6% from $3.86 in the first quarter last year. The strong performance in the quarter is even more impressive given the robust performance we were comparing against last year.
A year ago, we delivered the highest first-quarter sales in company history as we benefited from outsized demand for home improvement goods, favorable weather, and government stimulus. This year, we achieved a new high watermark for first-quarter sales as strong demand for home improvement goods continued despite a slower start to spring in many parts of the country. Delivering such strong results on top of last year's historical growth is a testament to our orange-blooded associates. They are maintaining their relentless focus on our customers while continuing to navigate the ongoing pandemic, global supply chain disruptions, inflation, and a tight labor market.