“In the second quarter, we achieved the highest quarterly revenue and earnings in our company’s history,” CEO Ted Decker said on Tuesday, according to the statement. He had already spoken of record sales in the previous quarter.
From May to July, according to group information, revenues climbed by 6.5 percent to almost 43.8 billion US dollars (42.9 billion euros) compared to the previous year. On a comparable basis, growth across the Group was 5.8 percent. In the US it was 5.4 percent. Experts had expected lower growth. Bottom line, profits rose 7.6 percent to nearly $5.2 billion. Diluted earnings per share were $5.05, up nearly 12 percent.
The Group confirmed its targets for the year as a whole. Home Depot is aiming for a sales increase of around three percent. The operating profit margin should be around 15.4 percent. Home Depot expects diluted earnings per share (EPS) to increase by a mid-single-digit percentage.
Home Depot stock rose 4.87 percent to $329.85 on the NYSE. The stock had lost value in pre-market trading.
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