Home Depot Raises FY22 Earnings, Sales Growth View - Update

(RTTNews) - While announcing higher first-quarter results on Tuesday, home improvement retailer Home Depot, Inc. (HD) raised its fiscal 2022 outlook.

In pre-market activity on the NYSE, Home Depot shares were gaining around 4.7 percent to trade at $309.80.

The company now expects total sales growth and comparable sales growth of approximately 3 percent, operating margin of approximately 15.4 percent, and earnings-per-share-percent-growth to be mid-single digits.

For fiscal 2022, the company previously projected sales growth and comparable sales growth to be slightly positive, operating margin approximately flat and earnings per share growth to be low single digits.

In fiscal 2021, earnings per share were $15.53, sales were $151.2 billion, and comparable sales growth was 11.4 percent.

Ted Decker, CEO and president, said, "Fiscal 2022 is off to a strong start as we delivered the highest first quarter sales in Company history. The solid performance in the quarter is even more impressive as we were comparing against last year's historic growth and faced a slower start to spring this year."