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Nov 01, 2020
Home Depot Q3 2020 Earnings Report
Home Depot experienced exceptional demand for home improvement projects.
Key Takeaways
The Home Depot reported sales of $33.5 billion for the third quarter of fiscal 2020, an increase of 23.2 percent from the third quarter of fiscal 2019. Net earnings for the third quarter of fiscal 2020 were $3.4 billion, or $3.18 per diluted share.
Sales increased by 23.2% compared to the same quarter last year.
Comparable sales were positive 24.1%.
Net earnings reached $3.4 billion, or $3.18 per diluted share.
The company is investing approximately $1 billion in annualized permanent compensation enhancements for frontline, hourly associates.
Home Depot
Home Depot
Forward Guidance
The Home Depot is not providing specific forward guidance but is focusing on investments to enable market share growth.
Positive Outlook
- Continuing to invest in the business.
- Focusing on associates and customers.
- Adapting effectively to the high-demand environment.
- Investing in permanent compensation enhancements for frontline, hourly associates.
- Believing investments are critical in enabling market share growth in any economic environment.
Challenges Ahead
- Impact on business, operations and financial results of the COVID-19 pandemic.
- State of the economy.
- State of the housing and home improvement markets.
- International trade disputes.
- Public health issues (including pandemics) that could disrupt supply or demand.