A customer wearing a protective mask loads lumber at a Home Depot store in Pleasanton, California, Feb. 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Home Depot on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations as sales rose from a year ago.
“Our performance reflects continued strength in demand for home improvement projects,” Home Depot CEO and President Ted Decker said in a statement. “Our team has done a fantastic job serving our customers, while continuing to navigate a challenging and dynamic environment.”
Here’s what the home improvement retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $5.05, adjusted, vs. $4.94 expected
- Revenue: $43.79 billion vs. $43.36 billion expected
Same store sales rose 5.8% compared to an estimated 4.9%, according to FactSet.
The company said total customer transactions slipped to 467.4 million from 481.7 million in the year-ago period, while average ticket grew 9% to $90.02 from $82.48. This could indicate sales driven by professional contractors, who tend to make fewer visits and purchase in higher quantities.
Sales per retail square foot grew 5.7% compared to the same quarter last year.
Home Depot said it still expects total sales for 2022 to grow about 3% from a year ago.
Shares of the company were down about 1% in pre-market trading.
This story is developing. Please check back for updates.
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