The Home Depot, Inc. (NYSE: HD) reported third quarter 2020 earnings results today.
Net sales increased 23.2% year-over-year to $33.5 billion. Comparable sales were a positive 24.1%.
Net income was $3.4 billion, or $3.18 per share, compared to $2.8 billion, or $2.53 per share, in the same period last year.
On Monday, Home Depot announced the acquisition of HD Supply Holdings Inc. for $8 billion. The transaction is expected to close during Home Depot’s fiscal fourth quarter and is expected to be accretive to FY2021 EPS. Home Depot anticipates this deal will help boost its sales across a $55 billion marketplace for maintenance, repair and operations.
Prior performance
