Home Depot Reports Higher Revenue Despite Coronavirus Impact -- Updates
19 Mai 2020 - 02:36PM
Dow Jones News
By Matt Grossman
Home Depot Inc. reported higher sales in the latest quarter
despite the large scale disruption caused by the coronavirus
pandemic, but the company's expenses rose sharply as it boosted
workers' pay and benefits.
Revenue in the fiscal first quarter was $28.26 billion, compared
with $26.38 billion a year earlier. Analysts expected $27.56
billion, according to FactSet.
Customers spent $74.70 per transaction during the period that
stretches from February to May, up 11% from a year earlier. The
number of transactions fell 3.9% to 374.8 million. Comparable sales
rose 6.4% overall, and 7.5% in the U.S.
Despite positive sales trends in the first quarter and the first
two weeks of the latest quarter, the company also withdrew its
guidance for the year, citing the uncertainty of the pandemic.
Shares of Home Depot fell 1.7% in premarket trading after
hitting an all-time trading high of $248.32 a share on Monday.
Against the backdrop of a declining stock market, Home Depot
stock has outperformed this year. The company's shares have risen
12.4% since the start of the year, a period when the S&P 500
index has declined overall.
Expenses totaled $6.4 billion, up 17% from a year earlier, as
the company paid weekly bonuses and higher overtime pay for hourly
workers, as well as expanded benefits such as paid time off and
dependent care.
Home Depot's profit declined to $2.24 billion, or $2.08 a share,
from $2.51 billion, or $2.27 a share, for the same period a year
earlier. Analysts were expecting a profit of $2.30 a share.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
May 19, 2020 08:21 ET (12:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Home Depot (NYSE:HD)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Home Depot (NYSE:HD)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024