A customer leaves Home Depot with items she bought on August 17, 2021 in Alexandria, Virginia.
Alex Wong | Getty Images
On Tuesday, Home Depot said sales rose 11% in its fiscal fourth quarter as the retailer beat Wall Street’s expectations and said it expects sales to rise in 2022.
The company said it expects earnings-per-share growth to be in low single digits and sales growth to be “slightly positive” in the upcoming fiscal year.
Shares rose less than 1% in premarket trading.
Here’s what the home improvement retailer said compared to what Wall Street expected for the quarter ended Jan. 31, based on a survey of analysts conducted by Refinitiv:
- Earnings per share: $3.21 vs. $3.18 expected
- Revenue: $35.72 billion. $34.87 billion expected.
Net income for the fourth fiscal quarter rose to $3.35 billion, or $3.21 per share, from $2.86 billion, or $2.65 per share, a year earlier. Analysts polled by Refinitiv had expected earnings per share of $3.18.
net sales rose to $35.72 billion, surpassing expectations of $34.87 billion.
The company recently announced a change in leadership. Veteran company and COO Ted Decker will take over as CEO effective March 1. Outgoing CEO Craig Menier will continue to serve as chairman of the board.
As of Friday’s close, Home Depot shares are up 24% over the past 12 months and outperform the market as a whole. The S&P 500 is up about 11% year over year. Shares closed Friday at $346.87, down less than 1%. The market value of the company is $362.22 billion.
This story is broken. Please stay tuned for updates.