Home Depot’s Q2 Sales up 6.5%, Earnings up 8%
August 16, 2022 from Floor Focus FloorDaily News
Atlanta, GA, August 16, 2022 – The Home Depot reported sales of $43.8 billion for the second quarter of fiscal 2022, an increase of $2.7 billion or 6.5% year-over-year. Comparable sales for the second quarter of fiscal 2022 increased 5.8%, and comparable sales in the U.S. increased 5.4%.
The mega retailer’s net earnings for the second quarter of fiscal 2022 were $5.2 billion, compared with net earnings of $4.8 billion in the same period of fiscal 2021.
“In the second quarter, we delivered the highest quarterly sales and earnings in our company’s history,” says CEO and president Ted Decker. “Our performance reflects continued strength in demand for home improvement projects.”
Total customer transactions, however, fell to 467.4 million in the second quarter from 481.7 million a year earlier. Home Depot said its average ticket rose 9.1% to $90.02.
The company reaffirmed it expects total sales growth and comparable-sales growth of about 3% for the fiscal year. It expects per-share earnings growth in the mid-single digits.