Shares of Home Depot Inc. HD, -2.55% slumped 0.7% in premarket trading Tuesday, even after the home improvement retailer reported fiscal third-quarter earnings that beat expectations, citing strength in project-related categories, but kept its full-year outlook intact. Net income for the quarter to Oct. 30 rose to $4.34 billion, or $4.24 a share, from $4.13 billion, or $3.94 a share, in the year-ago period. That beat the FactSet consensus for earnings per share of $4.12. Total sales grew 5.
Cost of sales increased more than total sales, rising 5.7% to $23.65 billion, as gross margin contracted to 34.0% from 34.1%. Merchandise inventories of $25.72 billion was down 1.4% from the end of July but up 25.0% from a year ago. For 2022, the company affirmed its guidance for sales growth of"approximately" 3.0% and for EPS growth in the mid-single digits percentage range. The FactSet 2022 EPS consensus of $16.60 implies 6.9% growth. Home Depot's stock has slipped 2.
Bullish
Home depot guy is a trump fan hahaha