Home Depot Q3 Results Rise, Top Estimates; Backs FY22 Outlook

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

The company continues to expect comparable sales growth of approximately 3 percent, operating margin of approximately 15.4 percent, and earnings per share to grow in 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 third quarter, net earnings were $4.34 billion or $4.24 per share, compared to $4.13 billion or $3.92 per share a year ago.

On average, 27 analysts polled by Thomson Reuters expected earnings of $4.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $38.87 billion for the third quarter, an increase of 5.6 percent from last year's $36.82 billion. Analysts estimated revenues of $38.01 billion for the quarter.

Comparable sales increased 4.3 percent, and comparable sales in the U.S. increased 4.5 percent.

In pre-market activity on the NYSE, Home Depot shares were trading at $299.80, down 2.32 percent.

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