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MarketScreener Homepage  >  Equities  >  Nyse  >  The Home Depot, Inc.    HD

THE HOME DEPOT, INC.

(HD)
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Home Depot Plans Workforce Investment as Pandemic Brings Another Strong Quarter

11/17/2020 | 07:26am EST

By Matt Grossman

Home Depot Inc., a home-improvement retailer that has thrived as people spend more time isolated during the coronavirus pandemic, continued its momentum into the latest quarter and pledged to permanently increase compensation for its hourly workers.

In the third fiscal quarter, the company's revenue rose to $33.54 billion, from $27.22 billion a year earlier. Analysts surveyed by FactSet were expecting revenue of $31.83 billion. Same-store sales grew by 24.1% year over year overall, and by 24.6% in the U.S.

The company's performance in the quarter, which ended Nov. 1, bookends a robust summer season for the Atlanta-based retailer. In the first nine months of the fiscal year, revenue grew by more than 18% overall. Home Depot shares closed trading Monday near $280, up more than 28% since the start of the calendar year.

The number of customer transactions for Home Depot in the third quarter rose by 13% year over year to more than 453 million, with an average ticket size of $72.98. Sales per retail square foot increased by more than $100 to $552.85.

Home Depot's quarterly net profit was $3.43 billion, or $3.18 a share, compared with a profit of $2.77 billion, or $2.53 a share, in last year's third quarter.

Analysts had forecast a profit of $3.13 a share.

The company said Tuesday it would permanently raise compensation for front-line workers in a program that will cost approximately $1 billion a year. During the Covid-19 pandemic, Home Depot has offered some temporary benefits to workers, including more paid time off and a temporary weekly bonus program.

"We continue to lean into these investments because we believe they are critical in enabling market-share growth in any economic environment," Chairman and Chief Executive Craig Menear said.

Home Depot shares declined about 2.1% in pre-market trading.

On Monday, Home Depot agreed to buy HD Supply Holdings Inc., a wholesale distributor of building supplies, for roughly $8.7 billion. HD Supply was a unit of Home Depot until 2007, when Home Depot sold HD Supply to a group that included Bain Capital, Carlyle Group and Clayton Dubilier Rice.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

11-17-20 0725ET

Stocks mentioned in the article
ChangeLast1st jan.
HD SUPPLY HOLDINGS, INC. 0.21% 55.99 End-of-day quote.0.00%
THE CARLYLE GROUP INC. -2.05% 33.4 Delayed Quote.6.23%
THE HOME DEPOT, INC. 1.77% 284 Delayed Quote.6.92%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.26% 13.28 End-of-day quote.6.81%
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Financials (USD)
Sales 2021 130 B - -
Net income 2021 12 753 M - -
Net Debt 2021 27 357 M - -
P/E ratio 2021 24,0x
Yield 2021 2,12%
Capitalization 306 B 306 B -
EV / Sales 2021 2,56x
EV / Sales 2022 2,56x
Nbr of Employees 415 700
Free-Float 60,1%
Chart THE HOME DEPOT, INC.
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The Home Depot, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends THE HOME DEPOT, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 306,54 $
Last Close Price 284,00 $
Spread / Highest target 25,0%
Spread / Average Target 7,94%
Spread / Lowest Target -26,1%
EPS Revisions
Managers and Directors
NameTitle
Craig A. Menear Chairman & Chief Executive Officer
Edward P. Decker President & Chief Operating Officer
Richard V. McPhail Chief Financial Officer & Executive Vice President
Matthew A. Carey Chief Information Officer & Executive VP
Paul Antony Senior Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
THE HOME DEPOT, INC.6.92%305 755