Home Depot Raises FY22 Earnings, Sales Growth View - Update

While announcing higher first-quarter results on Tuesday, home improvement retailer Home Depot, Inc. (HD) raised its fiscal 2022 outlook.

In pre-market activity on the NYSE, Home Depot shares were gaining around 4.7 percent to trade at $309.80.

The company now expects total sales growth and comparable sales growth of approximately 3 percent, operating margin of approximately 15.4 percent, and earnings-per-share-percent-growth to be mid-single digits.

For fiscal 2022, the company previously projected sales growth and comparable sales growth to be slightly positive, operating margin approximately flat and earnings per share growth to be low single digits.

In fiscal 2021, earnings per share were $15.53, sales were $151.2 billion, and comparable sales growth was 11.4 percent.

Ted Decker, CEO and president, said, "Fiscal 2022 is off to a strong start as we delivered the highest first quarter sales in Company history. The solid performance in the quarter is even more impressive as we were comparing against last year's historic growth and faced a slower start to spring this year."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula.
Follow RTT