Home Depot Inc.Stocks
After renovation retailers reported higher-than-expected third-quarter profit, net sales and same-store sales, Tuesday’s pre-market trading rose 0.7% to a record-breaking territory. Net income for the quarter to October 31 increased from $ 3.43 billion ($ 3.18 per share) to $ 4.13 billion ($ 3.92 per share) in the year-ago quarter, with a $ 3.42 per share FactSet. Significantly exceeded the consensus. .. Net sales were up 9.8% to $ 36.82 billion, well above FactSet’s consensus of $ 34.95 billion. Same-store sales increased 6.1%, outpacing FactSet’s consensus of 2.4% growth. Meanwhile, same-store sales in the United States increased 5.5%, up 2.3% more than expected. Gross profit margin dropped from 34.2% to 34.1%, resulting in a 9.9% increase in cost of sales to $ 24.26 billion. Craig Menear, Chief Executive Officer, said: “In the end, this has allowed us to meet the ongoing rising demand for housing improvements.” It will open above the record closing price of $ 372.63 on November 12. Stocks rose 39.7% year-to-date until Monday, but the Dow Jones Industrial Average averaged 30 stocks.
It is 17.9% ahead.
Home Depot’s stock price went up towards record after making big profits, and sales
Source link Home Depot’s stock price went up towards record after making big profits, and sales