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Home Depot (HD) hits 40-year high on Q3 earnings

By Joyanta Acharjee

16:41, 16 November 2021

Home Depot store in Florida
Home Depot store in Florida – Photo: Alamy

Home Depot stock hit an all-time high Tuesday as the home improvement chain reported fiscal third-quarter earnings that beat analyst predictions.

As at 11:08 ET (UTC-5) shares were up 6% at $390.58. The company has been stock exchange-listed since 1981, when its shares first traded at $12 each on the Nasdaq. The Atlanta-based retailer now trades on the New York Stock Exchange under the ticker “HD”.

On an earnings call, Home Depot's CEO Craig Menear commented on the current unprecedented hiring and logistics environment.

Managing current environment

"We will use our experience, tools and scale to manage this environment with the intent to deliver a strong value proposition to our customers," Menear said on the call.

For the period ended 31 October, net earnings rose 20.3% to $4.13bn (£3.08bn) from $3.43bn a year earlier on sales which increased 9.8% to $36.82bn from $33.54bn in the third quarter of 2020.

On a per-share basis, Home Depot's earned $3.92 per share for the latest quarter, up 23.3% from the $3.18 per share it earned in the same period last year.

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2,020.10 Price
-0.520% 1D Chg, %
Long position overnight fee -0.0200%
Short position overnight fee 0.0118%
Overnight fee time 22:00 (UTC)
Spread 0.50


0.63 Price
-0.730% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


43,631.90 Price
+3.820% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


15,840.80 Price
+0.120% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 1.8

Analysts saw EPS at $3.42

Analysts were expecting earnings per share of $3.42 on sales of $34.95bn, according to figures widely available on financial news sites.

"As evidenced by our strong performance in the quarter, our team continues to do an outstanding job of operating with flexibility and agility. Ultimately, this is what has allowed us to respond to the elevated home improvement demand that has persisted," Menear said in a press release.

Home Depot said overall same-store sales grew 6.1% with US same-store sales rising 5.5%. The average customer transaction – which Home Depot calls "ticket price" – rose 13% to $82.38 from $72.98.

At the end of the third quarter, Home Depot operated a total of 2,317 retail stores in the US, Canada and Mexico and had employed approximately 500,000 associates.

Read more: Walmart, Target join White House to reduce port congestion

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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