On Tuesday, Home Depot shed 2.65% to close at $150.17 per share, despite the group releasing better-than-expected results. During the 2nd quarter, the home improvement retailer saw revenues come in at $28.11bn, beating estimates of $27.84bn. In addition, same-store sales grew by 6.3%, much higher than expectations of a 4.9% increase. This uptick in sales comes as the group continues to benefit from an improving housing market in the US. Overall, Home Depot saw net income for the quarter grow to $2.7bn, or $2.25 per share, up from the $2.4bn, or $1.97 per share, recorded in the previous corresponding period and better than estimates of $2.22 per share.
Home Depot released better-than-expected results on Tuesday, with the group easily surpassing expectations for both earnings and revenue. During the first quarter, revenues came in at $23.89bn, beating estimates of $23.74bn. The group’s US comparable sales metric increased by 6%, sharply higher than expectations of 4.3%, while global same-store sales grew by 5.5%. Home Depot also saw net income come in at $2.01bn, or $1.67 per share, in the first quarter, up from $1.8bn, or $1.44 per share, a year ago. Adjusted earnings stood at $1.67 per share, marginally higher than expectations of $1.62 per share.
On Tuesday, Home Depot shed 2.56% following the release of its latest quarterly results, despite the group surpassing estimates for both earnings and revenue. During its fiscal 3rd quarter, Home Depot recorded sales of $23.2bn, up from the $21.82bn reported in the previous corresponding period and better than estimates of $23.05bn. This increase in sales was primarily due to a 5.5% increase in same-store sales during the period, easily beating estimates of a 4.4% increase. The group saw earnings come in at $1.60 per share, better than estimates of an increase to $1.58 per share and higher than the $1.36 per share recorded a year ago.
On Tuesday, Home Depot’s latest quarterly results meet expectations. The world’s largest retailers performed well during the quarter, with the group continuing to reap the benefits of a strong housing market. For the period, revenue came in at $26.47bn, up from $24.83bn a year ago and in-line with expectations of an increase to $24.69bn. In addition, Home Depot reported earnings of $1.97 per share, in line with estimates, but higher than the $1.71 per share reported in 2015. Lastly, over the quarter, the group saw same-store sales increase by 4.7%, slightly lower than an expected increase of 4.8%.
Home Depot ended 2.47% lower, on Tuesday, in spite of the group meeting (and surpassing) analysts’ expectations. During the quarter ended 30 April, Home Depot reported a 9% increase in sales to $22.8bn, marginally higher than estimates of $22.4bn. In addition, profit increased to $1.44 per share, up from $1.16 a year earlier, and substantially higher than an average estimate of $1.35. However, the results were overshadowed by slower first quarter sales growth, where comparable-store sales only increased by 4.3% in April, down from 6.7% in March and 10.2% in February.