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Home Depot tops Wall Street expectations
[NYPOST] Home Depot on Tuesday reported first-quarter earnings that demolished Wall Street’s expectations, as demand for the retailer’s products remained robust as the pandemic eased.CEO Craig Menear said the company benefitted from "unprecedented demand" in the fiscal first quarter, which ended May 2. The company reported net sales of $37.5 billion — up a staggering 32.7 percent compared with the same time last year, when the pandemic first hit corporate earnings. Wall Street analysts expected $34.96 billion in net sales. Same-store sales rose 31 percent from a year ago, beating Wall Street expectations of a 19.9 percent increase, according to IBES data from Refinitiv. And the company reported net income of $4.15 billion, or $3.86 per share, up from $2.25 billion, or $2.08 per share, a year earlier. Analysts were expecting earnings per share of $3.08. Posted by: Fred 2021-05-19 |
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