Higher-than-expected Q3 figures for Home Depot

November 18, 2020
Higher-than-expected Q3 figures for Home Depot

Despite the pandemic, Home Depot posted promising figures

One of the largest improvement retailers- Home Depot released its Q3 2020 earnings ahead of the estimates.

Home Depot reported a net income of $3.43 billion, which marks a 24% increase from last year’s figures. The market was looking for $3.06 billion.

The company’s EPS was of $3.18, with revenues of $33.54 billion. The numbers topped the EPS of $3.06 and $32.04 billion, respectively forecasted. Given the pandemic, people preferred online shopping, which translated into a rise in digital sales of 80% from Q3 2019.

In the future, Home Depot is considering expanding in the building utility and maintenance sector, as it is talking to buy back HD Supply Holdings for $8 billion.

Year-to-date, Home Depot stock price gained 28%.

Sources: reuters.com

This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.


You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.



This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.

Recently Added

Most Affected Instruments

Home Depot
arrow
homedepot chart