Home Depot Q1 2022 Earnings Report
Key Takeaways
Home Depot's first quarter fiscal 2022 sales reached $38.9 billion, a 3.8% increase from the previous year. Comparable sales grew by 2.2%, and diluted earnings per share increased by 6.0% to $4.09. The company raised its fiscal 2022 guidance, expecting continued growth.
Total sales increased by 3.8% compared to the first quarter of fiscal 2021.
Comparable sales rose by 2.2% in the first quarter of fiscal 2022.
Net earnings for the quarter were $4.2 billion, or $4.09 per diluted share.
The company raised its fiscal 2022 guidance, anticipating approximately 3.0% total sales growth.
Home Depot
Home Depot
Home Depot Revenue by Geographic Location
Forward Guidance
The Company raised fiscal 2022 guidance and now expects total sales growth and comparable sales growth of approximately 3.0 percent. Operating margin of approximately 15.4 percent. Net interest expense of approximately $1.6 billion. Tax rate of approximately 24.6 percent. Diluted earnings-per-share-percent-growth to be mid-single digits.
Positive Outlook
- Total sales growth of approximately 3.0 percent
- Comparable sales growth of approximately 3.0 percent
- Operating margin of approximately 15.4 percent
- Net interest expense of approximately $1.6 billion
- Tax rate of approximately 24.6 percent