Why Home Depot Shares Are Gaining Today

Home Depot Inc HD reported first-quarter FY22 sales growth of 3.8% year-on-year to $38.91 billion, beating the consensus of $36.71 billion.
Customer transactions for the quarter fell 8.2%. Comparable sales increased 2.2%, and comparable sales in the U.S. rose 1.7%.
Gross profit rose 3.2% Y/Y to $13.1 billion. The operating margin was 15.2%, and operating income for the quarter rose 2.6% to $5.9 billion.
The operating expenses increased 3.7% Y/Y to $7.2 billion.
EPS of $4.09 beat the analyst consensus of $3.67.
The average ticket in Q1 was $91.72, an 11.4% growth, and sales per square foot climbed 2.7% to $621.99.
The company held $2.8 billion in cash and equivalents as of May 1, 2022. Net cash provided by operating activities for the quarter totaled $3.8 billion.
Outlook: Home Depot sees FY22 sales growth and comparable sales growth of approximately 3.0% (prior view: slightly positive).
HD forecasts EPS-percent-growth to be mid-single digits (prior view: low single digits).
Price Action: HD shares traded higher by 3.72% at $307.00 in premarket on the last check Tuesday.

Momentum52.46

Growth48.88

Quality-

Value25.00

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