Home Depot Q3 Earnings Beat Estimates; Reaffirms FY22 Guidance

Home Depot Inc HD reported third-quarter FY22 sales growth of 5.6% year-on-year to $38.87 billion, beating the consensus of $38.01 billion.
Customer transactions for the quarter fell 4.3%. Comparable sales increased 4.3%, and comparable sales in the U.S. rose 4.5%.
Gross profit rose 5.3% Y/Y to $13.2 billion. The operating margin was 15.8%, and operating income for the quarter rose 6.1% to $6.1 billion.
The operating expenses increased 4.6% Y/Y to $7.1 billion.
EPS of $4.24 beat the analyst consensus of $4.13.
The average ticket in Q3 was $89.67, an 8.8% growth, and sales per square foot climbed 5.3% to $618.50.
The company held $2.5 billion in cash and equivalents as of October 30, 2022. Net cash provided by operating activities for the nine months totaled $10 billion.
Outlook, reaffirmed: Home Depot reaffirmed FY22 comparable sales growth guidance of approximately 3.0%.
HD forecasts EPS-percent-growth to be mid-single digits. The company expects an FY22 operating margin of 15.4%.
Price Action: HD shares traded lower by 0.95% at $304.00 in premarket on the last check Tuesday.
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