Home Depot (HD) earnings Q4 2020

People wear protective face masks outside Home Depot in the Flatiron district as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 8, 2020 in New York City.

Noam Galai | Getty Images

Home Depot’s fourth-quarter earnings surged past investors’ expectations on Tuesday, as consumers continued to invest in their homes due to the pandemic and strength of the real estate market.

Shares are down nearly 2% in premarket trading, after the company did not provide an outlook.

Here’s how the company did for the quarter ended Jan. 31: 

  • Earnings per share: $2.65. vs. $2.62, expected, based on Refinitiv’s consensus estimates
  • Revenue: $32.26 billion vs.  $30.73 billion, expected, according to Refinitiv

Home Depot’s net income rose to $2.86 billion, or $2.65 per share, up from $2.48 billion, or $2.28 per share, a year earlier. Analysts surveyed by Refinitiv expected earnings per share of $2.62.

Net sales rose 25% to $32.26 billion, from $25.78 billion, reported a year ago. The retailer exceeded analysts’ expectations of $30.73 billion.

Its U.S. same-store sales jumped by 25%. Its overall same-store sales grew by 24.5%, higher than the 19.2% growth that analysts expected, according to a StreetAccount survey. The growth is in line with what Home Depot reported during the second and third quarter, when it benefited from keeping doors open as an essential retailer.

Home Depot also announced Tuesday that its board of directors has approved a 10% increase in its quarterly dividend to $1.65 per share.

This story is developing and will be updated.

Source link




First Drive: Land Rover Defender 90

See the Full Model OverviewLess is more. Well, maybe. In the case of the 2021 Land Rover Defender 90, less is most definitely...

‘Brand doesn’t matter. Get the first vaccine available,’ Dr. Vin Gupta says

Intensive-care unit and lung doctor Dr. Vin Gupta told CNBC's "The News with Shepard Smith" that patients should stop weighing the pros and...

Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products

Tesla announced Monday that it bought $1.5 billion worth of bitcoin, according to a filing with the SEC.The company said it bought the...

Medical regulation during the Covid-19 pandemic

Medical regulation during Covid-19 pandemic, will require not only the doctors, but also the public, other healthcare practitioners, health...

Altria said cigarette industry shipments flattened in 2020

Marlboro cigarettes, a product of Philip Morris InternationalDaniel Acker | Bloomberg | Getty ImagesAfter years of accelerating declines in smoking, tobacco giant Altria...