Home Depot: 4Q Sales Up 10.7% - Modern Distribution Management

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Home Depot: 4Q Sales Up 10.7%

The world's largest home improvement retailer also reported 2021 year-end sales of more than $151 billion, a 14.4% increase.
Home Depot 2021 4Q earnings sales

The Home Depot Inc. (NYSE: HD), based in Atlanta, Georgia, reported 2021 fourth-quarter sales of $35.7 billion, an increase of 10.7% over the same period in 2020.

Net earnings for 4Q were $3.4 billion, or $3.21 per diluted share, compared with net earnings of $2.9 billion, or $2.65 per diluted share, in the same period a year prior. Diluted earnings per share increased 21.1% from the same period in 2020.

For the year, overall sales were $151.2 billion, an increase of 14.4% from 2020.

Net earnings for 2021 overall were $16.4 billion, or $15.53 per diluted share, compared with net earnings of $12.9 billion, or $11.94 per diluted share in 2020. In 2021, diluted earnings per share increased 30.1% versus 2020, the company said.

“Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales,” said Craig Menear, Home Depot chairman and CEO. “Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates’ relentless focus on our customers. I would like to thank all of our associates, as well as our supplier partners, for their hard work and dedication to serving our customers, communities and each other.”

The company’s board of directors also approved a 15% increase in its quarterly dividend to $1.90 per share, which equates to an annual dividend of $7.60 per share. The dividend is payable on March 24 to shareholders of record on the close of business on March 10. This is the 140th consecutive quarter the company has paid a cash dividend, The Home Depot said.

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