Home Depot 3Q Sales Rise 5.6% to $38.9B - Modern Distribution Management

Home Depot 3Q Sales Rise 5.6% to $38.9B

The company also reaffirmed its fiscal 2022 guidance, including comparable sales growth of approximately 3%.
Home Depot fiscal 2022 3Q sales

On Nov. 15, home improvement retailer The Home Depot reported 2022 third-quarter sales of $38.9 billion, a 5.6% increase over the same quarter in 2021.

The figures represent year-over-year 3Q growth, though sales dipped slightly compared with the prior quarter. On Aug. 16, The Home Depot reported 2Q sales of $43.8 billion, a 6.5% increase over 2Q 2021.

For 3Q 2022, net earnings were $4.3 billion, or $4.24 per diluted share, compared with net earnings of $4.1 billion, or $3.92 per diluted share, in the same period of fiscal 2021, representing an 8.2% increase in diluted earnings per share.

“We delivered another solid performance in the third quarter, driven by strength in project-related categories across the business,” said Ted Decker, Chair, President and CEO of The Home Depot. “Our team has done a fantastic job serving our customers while continuing to navigate a challenging and dynamic environment. I would like to thank them and our many partners for their hard work and dedication to our customers.”

The company also reaffirmed in fiscal 2022 guidance, including comparable sales growth of approximately 3% and operating margin of approximately 15.4%.

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