Saturday , October 23 2021

Home Depot raises the top management of the financial year


Home Depot

HD -0.62%

a year ago, reported a dramatic increase in its third-quarter earnings and resumed a full annual directive, since it was in demand for retail sales.

Nevertheless, the company said it was continuing its rigid comparison with last year's storm, which led to a sharp increase in sales due to the hurricane damaged areas.

The profit of Home Depot increased by 32% to $ 2.87 billion or $ 2.51 per share. Analysts expect $ 2.26 per share. Acquisition of provisions for income tax a year ago decreased to approximately $ 489 million, which helped to increase profits.

Net sales increased by 5.1% and amounted to $ 26.3 billion. USD, an increase in transactions with customers and an average price of client transactions. Refinitiv analysts expect $ 26.26 billion. Consensus expectations from the Metrix analysts increased from 4.7% to 4.8%.

According to Managing Director Craig Mener, the company's income improves the overall living conditions, but due to Hurricane Harvey's attack on Texas in 2017, the United States has experienced a problem with the Persian Gulf.

"This quarter, Florence and Michael brought storms, but the ruined lands were geographically compact," he said.

According to Carol Tome, chief financial officer of Home Depot, the company sold about $ 282 million in the third quarter of last year, and this year it reached $ 150 million. In the fourth quarter, the company competes with storm sales for the fourth quarter of about $ 380 million a year.

"Although we anticipate purchases of storm sales in the fourth quarter, we do not expect sales for $ 400 million," he said.

According to Home Depot, annual sales volume will increase by 7.5% a year earlier or 5.5%, excluding the 53rd day of the current financial year. The company was expecting an increase of approximately 7% or 5.3%, excluding weekly sales. The company expects to earn a share of $ 9.75 per year, compared to a forecast of $ 9.49 per barrel.

The earnings guide includes the purchase-related activity. Home Depot is expected to buy a $ 8 billion stake on Tuesday. The company purchases $ 6 billion in shares.

The shares of Home Depot fell by 7%, fell to 1.7% in the evening on Monday morning.

Write Allison Prang at [email protected]

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