Home Depot Beats Quarterly Sales Estimates

Reuters2022-08-16

Aug 16 (Reuters) - Home Depot Inc reported quarterly comparable sales above Wall Street estimates on Tuesday on steady demand for home-improvement goods from professional builders and handymen.

Analysts have said demand from home-improvement professionals has been strong, even as do-it-yourself customers are reining in their spending, due to a healthy pipeline of remodeling work.

Home Depot's comparable sales rose 5.8% for the second quarter, while analysts had expected a 4.9% growth, according to IBES data from Refinitiv.

Net sales for the largest U.S. home improvement chain climbed 6.5% to $43.79 billion, compared with estimates of $43.36 billion.

Net earnings increased to $5.17 billion, or $5.05 per share, for the second quarter ended July 31, from $4.81 billion, or $4.53 per share, a year earlier.

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Comments

SteadyDoesIt
2022-08-16
SteadyDoesIt
Great
frusty
2022-08-16
frusty
Ok
aaffsmcjje
2022-08-16
aaffsmcjje
Home depot buy ANGI!
N00b
2022-08-16
N00b
Ok
N00b
2022-08-16
N00b
Ok like ok

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