The Home Depot, Inc. (NYSE:HD) Q4 2023 Results Conference Call February 20, 2024 9:00 AM ET

Company Participants

Isabel Janci - VP, IR & Treasurer

Edward Decker - Chair, President and CEO

Ann-Marie Campbell - Senior Executive Vice President

William Bastek - Executive Vice President of Merchandising

Richard McPhail - Executive VP & CFO

Chip Devine - SVP, Outside Sales

Conference Call Participants

Simeon Gutman - Morgan Stanley.

Zachary Fadem - Wells Fargo

Christopher Horvers - JPMorgan Chase & Co

Scot Ciccarelli - Truist Securities, Inc.

Charles Grom - Gordon Haskett Research Advisors

Michael Lasser - UBS

Seth Sigman - Barclays

Steven Forbes - Guggenheim Securities

Operator

Greetings, and welcome to the Home Depot Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [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

Thank you, Christine, and good morning, everyone. Welcome to Home Depot's fourth quarter and fiscal year 2023 earnings call. Joining us on our call today are Ted Decker, Chair, President and CEO; Ann-Marie Campbell, Senior Executive Vice President; Billy Bastek, 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 release and in our filings with the Securities and Exchange Commission. Today's presentation 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.

Edward Decker

Thank you, Isabel, and good morning, everyone. As you'll hear from the team shortly, the fourth quarter of fiscal 2023 was largely in line with our expectations. For fiscal 2023, sales were $152.7 billion, down 3% from the prior year. Comp sales declined 3.2% versus last year, and our U.S. stores had negative comps of 3.5%. Diluted earnings per share were $15.11 compared to $16.69 in the prior year.