Reuters – Home Depot, the largest US home improvement chain, beat analysts’ third-quarter sales and profit estimates on Tuesday, as hurricanes Harvey and Irma boosted demand for storm-related emergency products and rebuilding materials.
The Dow component’s shares, already up 23% this year, were 2.2% higher in pre-market trading.
Sales at stores open for more than a year rose 7.9%, above the average analyst estimate of 5.9%, according to Thomson Reuters.
Comparable sales at US stores increased 7.7%, above the average analyst estimate of 6%.
Home Depot said hurricane-related sales added about $282m to comparable sales.