Menu

📰
0

Home Depot beats Wall Street’s projections for the fourth quarter even as shoppers remain cautious

Fast Company·@AssociatedPress·2 months ago
#uEJORr
#fastcompany#depot#englishlanguage
Reading 0:00
15s threshold

Home Depot’s fourth-quarter performance was muted by ongoing caution from American consumers in a weak housing market, but the home improvement retailer topped Wall Street expectations. The Atlanta company earned $2.57 billion, or $2.58 per share, for the three months ended ## Feb. 1 . Stripping out one-time charges or benefits, earnings were $2.72 per share, topping analyst projections for per-share earnings of $2.53, *according to FactSet.* A year earlier it earned $3 billion, or $3.02 per share. An extra week in fiscal 2024 added approximately 30 cents per share to the year-ago quarter. Home Depot’s stock rose more than 3% before the market opened on Tuesday. Revenue totaled $38.2 billion, down from $39.7 billion a year earlier. The extra week in the prior-year period added about $2.5 billion of sales. Wall Street was looking for revenue of $38.09 billion. Sales at stores open at least a year, a key indicator of a retailer’s health, edged up 0.4%.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More