Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Why Home Depot Shares Are Gaining Today

  • Home Depot Inc (NYSE:HD) reported first-quarter FY22 sales growth of 3.8% year-on-year to $38.91 billion, beating the consensus of $36.71 billion.
  • Customer transactions for the quarter fell 8.2%. Comparable sales increased 2.2%, and comparable sales in the U.S. rose 1.7%.
  • Gross profit rose 3.2% Y/Y to $13.1 billion. The operating margin was 15.2%, and operating income for the quarter rose 2.6% to $5.9 billion.
  • The operating expenses increased 3.7% Y/Y to $7.2 billion.
  • EPS of $4.09 beat the analyst consensus of $3.67.
  • The average ticket in Q1 was $91.72, an 11.4% growth, and sales per square foot climbed 2.7% to $621.99.
  • The company held $2.8 billion in cash and equivalents as of May 1, 2022. Net cash provided by operating activities for the quarter totaled $3.8 billion.
  • Outlook: Home Depot sees FY22 sales growth and comparable sales growth of approximately 3.0% (prior view: slightly positive).
  • HD forecasts EPS-percent-growth to be mid-single digits (prior view: low single digits).
  • Price Action: HD shares traded higher by 3.72% at $307.00 in premarket on the last check Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.