Home Depot Q4'15 Final Earnings Transcript 2.23.16

Home Depot Q4'15 Final Earnings Transcript 2.23.16 - HD Q4...

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HD - Q4 2015 Home Depot Inc. Earnings Call EVENT DATE/TIME: FEBRUARY 23, 2016 / 09:00 AM EST P R E S E N T A T I O N Operator Good day ladies and gentlemen. Welcome to The Home Depot fourth-quarter and fiscal 2015 earnings call. Today's conference is being recorded. (Operator Instructions) At the time I would like to turn the conference over to Ms. Diane Dayhoff, Vice President of Investor Relations. Please go ahead, ma'am. Diane Dayhoff - The Home Depot, Inc. - VP, IR Thank you, Nicole, and good morning to everyone. Joining us on our call today are Craig Menear, Chairman, CEO and President; Ted Decker, EVP of Merchandising; and Carol Tomé, Chief Financial Officer and Executive Vice President, Corporate Services. Following our prepared remarks the call will be open for analyst questions. Questions will be limited to analysts and investors and as a reminder we would appreciate it if the participants would limit themselves to one question with one follow-up, please. If we are unable to get to your question during the call, please call investor relations department at 770- 384-2387. Now before I turn the call over to Craig 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 presentations may also include certain non-GAAP measurements. Reconciliation of these measurements is provided on our website. Now let me turn the call over to Craig. Craig Menear - The Home Depot, Inc. - Chairman, CEO & President Thank you, Diane, and good morning everyone. Fiscal 2015 was a record year for our Company. We achieved sales of $88.5 billion, the highest in Company history. We also recorded the highest net earnings in Company history and fiscal 2015 earnings per share grew 15.9% to $5.46. Sales for the fourth quarter were $21 billion, up 9.5% from last year. Comp sales were up 7.1% from last year and our U.S. stores had a positive comp of 8.9%. Diluted earnings per share were $1.17 in the fourth quarter. Our strong sales performance was driven by a continued moderate housing recovery, exciting merchandising events, solid execution and a benefit from favorable weather. We continue to see broad-based growth across the store and our geographies.
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All three of our U.S. divisions posted positive comps in the fourth quarter led by our southern division which posted low double-digit comps while our northern and western divisions recorded high single-digit comps. And all 19 U.S. regions and top 40 markets saw mid-single-digit to low double-digit comps in the quarter.
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