Day: May 24, 2020

Home Depot Surpasses 4th-Quarter Earnings and Revenue Projections

Home Depot Inc. (NYSE:HD) released its fourth-quarter results before the opening bell on Feb. 25. The company recorded earnings and revenue that beat analysts’ expectations, attributing the strong results to a robust holiday season as well as strong sales of appliances.

By the numbers

The world’s largest home improvement retailer reported earnings per share of $2.28, which topped estimates of $2.10. Revenue of $25.28 billion beat expectations of $25.26 billion, but fell 2.7% on a year-over-year basis.

Same store sales surged 5.2% during the quarter versus the anticipated growth of 4.8%. The quarterly comps growth was aided by a 4% increase in the average shopper’s ticket price. U.S. comps were up 5.3%.

Reflecting on the company’s performance, Chairman and CEO Craig Menear said:

“Fiscal 2019 was a record year for our business and one marked by significant progress as we invest to transform ourselves into The Home Depot of the

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