Greetings and welcome to The Home Depot fourth quarter 2024 earnings conference call. [Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host,

A quick glance at its fourth-quarter results might make that seem less apparent, with revenue up 14% and GAAP earnings per share 7.1% higher. The caveat is that Home Depot's fiscal fourth quarter was 14 weeks, compared to 13 weeks in the prior year's period, with that extra week generating about half of Home Depot's revenue growth in Q4.

Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale.