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Home Depot Beats Q3 Wall Street Earnings Expectations

The Home Depot exceeded Wall Street expectations in a third quarter when net earnings were $2.87 billion, or $2.51 per diluted share, versus $2.17 billion, or $1.84 per diluted share, in the year-previous quarter.

Home Depot diluted earnings per share topped a MarketBeat-published analyst consensus estimate of $2.27.

Comparable sales gained 4.8% in the quarter year over year with comps in the U.S. up 5.4%. Net sales increased 5.1% to $26.3 billion from the period a year before. Operating income was $3.87 billion versus $3.68 billion in the quarter a year earlier.

“We are pleased with our third quarter results and the growth that we saw from both our professional and do-it-yourself customers,” said Craig Menear, chairman, CEO and president, Home Depot. “Our customers continue to respond to our expansive assortment and enhancements we are making to drive an interconnected shopping experience. We saw continued strength across the store, as well as healthy growth in our digital business. We believe this is a testament to the overall strength of demand in the home improvement market.”