The Home Depot Inc (NYSE:HD) is trading lower Tuesday morning despite announcing better-than-expected fourth-quarter financial results.
Home Depot said quarterly revenue increased 10.7% year-over-year to $35.7 billion, which beat the estimate of $34.87 billion. The company reported quarterly earnings of $3.21 per share, which beat the $3.17 estimate.
Home Depot also increased its quarterly dividend by 15% to $1.90 per share.
"Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates’ relentless focus on our customers," said Craig Menear, chairman and CEO of Home Depot.
Home Depot said it expects fiscal-year 2022 revenue growth to be "slightly positive" and operating margin to be "approximately flat."
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HD Price Action: Home Depot has traded as low as $246.59 and as high as $420.61 over a 52-week period.
The stock was down 3.44% at $334.95 at time of publication.
Photo: Mike Mozart from Flickr.
