Business

Home Depot’s stock price went up towards record after making big profits, and sales

Home Depot Inc.Stocks
HD,
-0.42%

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.
DJIA,
-0.04%

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

Back to top button