Reportedly, The Home Depot, Inc.’s (HD) second-quarter earnings beat estimates and management reaffirmed guidance, even as unsold inventory stack up. The home improvement retailer exceeded quarterly earnings estimates since the first quarter of 2020 and hasn’t missed revenue predictions since Q3 2019.
Home Depot’s earnings increased 11.5% to $5.05 per share. Revenue grew 6.5% to $43.79 billion. The market expected Home Depot earnings of $4.94 per share on revenue of $43.36 billion. Comparable sales increased 5.8% for the period, with U.S. same-store sales up 5.4%. The company’s strategy leverages brick-and-mortar sales to help expand its e-commerce operations.
The company reaffirmed its 2022 outlook, Home Depot still expects mid-single-digit EPS growth with total sales and comps increasing about 3%. Wall Street has forecast Home Depot earnings to rise 3.6% and revenue to grow 1.8%.
The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs. To learn more about The Home Depot, Inc. (HD), and to continue to track its progress please visit vista Partners’ The Home Depot, Inc. Coverage Page.
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