Home Depot beat Q2 earnings expectations

By: Miguel A. Rodriguez

18:01, 17 August 2021

The home improvement retailer reported better-than-expected second-quarter 2021 earnings

Home Depot announced an EPS of $4.53 on revenues of $41.12 billion. Both figures came ahead of the $4.44 earnings/share and $40.79 billion, respectively, expected. Compared to the same quarter of last year, revenue climbed 8.1% from the $38.05 billion reported.

However, Home Depot’s same-store sales came in slightly below expectations, posting a modest 4.5% growth, as the company skipped a period a year earlier when customers rushed to its stores to buy paint, wood, gardening supplies and other materials for home remodeling projects. Analysts were looking for a 5% increase. US same-store sales gained 3.4% in the quarter, compared to the 25% surge in the year-ago period.

The retail recently added HD Supply – a distributor of appliances, plumbing and electrical equipment.

Home Depot didn’t provide a full-year outlook citing uncertainty around the COVID-19 pandemic, but analysts believe that inflation could be one-factor boosting sales.

Since the beginning of the year, Home Depot share price went up 26%.


Source: cnbc.com

Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.