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Home Depot (HD) earnings 4th quarter 2020

People are wearing protective face masks outside the Home Depot in the Flatiron district as the city continues Phase 4 with reopening following restrictions imposed to curb the spread of coronavirus on August 8, 2020 in New York City.

Noam Galai | Getty Images

Home Depot̵

7;s earnings in the fourth quarter raised former investors’ expectations on Tuesday as consumers continued to invest in their homes due to the pandemic and the strength of the real estate market.

The shares have fallen more than 1% in pre-market trading after the company did not give expectations for the year.

Home Depot Chief Financial Officer Richard McPhail said the retailer is not sure how long the pandemic will last and how it could affect consumer spending. He said that if demand from the second half of last year continues, it will lead to a slight positive growth in the same store sales and an operating margin of at least 14% this year.

Here’s what the company reported for the quarter that ended Jan. 31, compared to what Wall Street expected, based on a survey by analysts conducted by Refinitiv:

  • Earnings per Stock: $ 2.65 against $ 2.62 expected
  • Revenue: DKK 32.26 billion $ Mod 30.73 billion. $ Expected

Home Depot’s net income rose to $ 2.86 billion. $ Or $ 2.65 per. Share, up from 2.48 billion. $ Or $ 2.28 per. Stock, one year earlier. Analysts surveyed by Refinitiv expected earnings per share. Stock at $ 2.62.

Net revenue increased 25% to DKK 32.26 billion. Dollars from 25.78 billion. Dollars a year ago and exceeded estimates of 30.73 billion. $.

Its US sales in the same store increased by 25%. Its total sales in the same store 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 in the second and third quarters, where it benefited from keeping doors open as a major retailer.

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

This story is under development and will be updated.

Read the full press release here.

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