The Home Depot, Inc. (NYSE: HD) reported stronger-than-expected earnings and revenues for the second quarter of 2022 amid continued increase in the demand for home improvement products.
Second-quarter net income moved up to $5.17 billion or $5.05 per share from $4.81 billion or $4.53 per share in the same period of 2021. The latest number also exceeded analysts’ estimates.
Earnings benefitted from a 7% increase in net sales to $43.8 billion, which also came in above the consensus estimates. Total comparable store sales grew by 5.8%. Meanwhile, the management reaffirmed its financial guidance for fiscal 2022.
Check this space to read management/analysts’ comments on Home Depot’s Q2 earnings
“In the second quarter, we delivered the highest quarterly sales and earnings in our company’s history. Our performance reflects continued strength in demand for home improvement projects. Our team has done a fantastic job serving our customers while continuing to navigate a challenging and dynamic environment.,” said Ted Decker, CEO of Home Depot.
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