17-05-2022, 06:38 PM
Home Depot raises full-year outlook after earnings beat, record first-quarter sales
* Home Depot on Tuesday raised its full-year outlook after reporting strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record.
* For 2022, Home Depot is now expecting sales growth of about 3% and earnings per share growth in the mid-single digits.
* This marks Ted Decker’s first quarter at the helm of the company.
Amelia Lucas
PUBLISHED TUE, MAY 17 20225:29 AM EDT
Home Depot on Tuesday raised its full-year outlook after reporting strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record. Shares of the company rose 4% in premarket trading.
Here’s what Home Depot reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $4.09 vs. $3.68 expected
Revenue: $38.91 billion vs. $36.72 billion expected
The home improvement retailer reported first-quarter net income of $4.23 billion, or $4.09 per share, up from $4.15 billion, or $3.86 per share, a year earlier. Analysts surveyed by Refinitiv were expecting the company to earn $3.68 per share.
Net sales rose 3.8% to $38.91 billion, topping expectations of $36.72 billion. Same-store sales increased 2.2% in the quarter.
“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,” CEO Ted Decker said in a statement.
More details in https://www.cnbc.com/2022/05/17/home-dep...nings.html
* Home Depot on Tuesday raised its full-year outlook after reporting strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record.
* For 2022, Home Depot is now expecting sales growth of about 3% and earnings per share growth in the mid-single digits.
* This marks Ted Decker’s first quarter at the helm of the company.
Amelia Lucas
PUBLISHED TUE, MAY 17 20225:29 AM EDT
Home Depot on Tuesday raised its full-year outlook after reporting strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record. Shares of the company rose 4% in premarket trading.
Here’s what Home Depot reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $4.09 vs. $3.68 expected
Revenue: $38.91 billion vs. $36.72 billion expected
The home improvement retailer reported first-quarter net income of $4.23 billion, or $4.09 per share, up from $4.15 billion, or $3.86 per share, a year earlier. Analysts surveyed by Refinitiv were expecting the company to earn $3.68 per share.
Net sales rose 3.8% to $38.91 billion, topping expectations of $36.72 billion. Same-store sales increased 2.2% in the quarter.
“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,” CEO Ted Decker said in a statement.
More details in https://www.cnbc.com/2022/05/17/home-dep...nings.html