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Home Depot Maintains FY22 Outlook - Update

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

The company continues to expect 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.

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

In the second quarter, net earnings were $5.2 billion or $5.05 per share, compared to $4.8 billion or $4.53 per share last year. Earnings per share grew 11.5 percent.

Analysts on average had expected the company to earn $4.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Sales were $43.8 billion for the second quarter, an increase of 6.5 percent from last year. Analysts expected $43.36 billion sales.

Comparable sales increased 5.8 percent, and comparable sales in the U.S. increased 5.4 percent.

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