Home Depot Advances Sales, Earnings In Q3

Home Depot continued to advance in the third quarter, growing comps, sales and earnings.

In the third quarter, The Home Depot recorded net earnings of $1.97 billion, or $1.60 per diluted share, compared with $1.73 billion, or $1.35 per diluted share, in the period a year earlier. A Thomson Reuters analyst average estimate called for earnings per diluted share of $1.58.

Comparable store sales advanced 5.5% company-wide and 5.9% in the U.S. Sales were $23.15 billion, up 6.1% from the 2015 third quarter. Operating income was $3.32 billion versus $2.98 billion in the year-prior quarter.

“We experienced balanced sales growth in the quarter driven by an increase in both ticket and transactions, and our continued focus on productivity drove double-digit earnings-per-share growth,” said Craig Menear, Home Depot chairman, president and CEO.

Home Depot operates a total of 2,276 retail stores in the U.S., the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.