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May 02, 2021
Home Depot Q1 2021 Earnings Report
Home Depot's Q1 2021 sales and earnings increased significantly due to strategic investments and effective management of unprecedented demand.
Key Takeaways
Home Depot reported a strong first quarter with sales increasing by 32.7% to $37.5 billion and net earnings rising to $4.1 billion, or $3.86 per diluted share. The company benefited from strategic investments and effectively managed high demand for home improvement projects.
Sales increased by 32.7% to $37.5 billion compared to the first quarter of fiscal 2020.
Comparable sales increased by 31.0% overall and 29.9% in the U.S.
Net earnings reached $4.1 billion, or $3.86 per diluted share, up from $2.2 billion, or $2.08 per diluted share, in the same period last year.
The company operated 2,298 retail stores across various regions and employed approximately 500,000 associates.