Home Improvement giant, the Home Depot (HD) reported third-quarter earnings and revenue that beat analysts’ forecasts as customers spent more on home improvement projects.
Earning Highlights for the third-quarter ended Oct. 31:
- Earnings per share of $3.92 were reported versus $3.40 expected.
- Revenue stood at $36.82 billion versus $35.01 billion expected.
- Net income for the third quarter increased to $4.13 billion, or $3.92 per share, from $3.43 billion, or $3.18 per share, a year earlier.
- Net sales also rose to 9.8% to $36.82 billion, exceeding expectations of $35.01 billion.
- Digital sales increased by 8% in the quarter. Sales accelerated in October compared with August and September, Executives informed.
- Home Depot’s same-store sales climbed 6.1%, beating estimates of 2.2%.
As the holiday season is approaching strong demand is carrying over into the next quarter. The company informed that the same-store sales growth for the first two weeks of the fiscal fourth quarter is slightly higher than third-quarter levels.
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 vista Partners The Home Depot, Inc. Coverage Page.
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