11/19/2019, 12:02 PM (Source: TeleTrader)
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Home Depot Q3 net sales at $27.2B, up 3.5% YoY

Home Depot, Inc. announced on Tuesday that its net sales in the third quarter of fiscal 2019 increased by 3.5% compared to the same period in 2018, reaching $27.2 billion.

Operating income amounted to $3.9 billion in the three months ending with November 3, marking an increase of 2% from the same trimester last year. The company reported that its diluted earnings per share stood at $2.53 in the third three-month period, representing a gain of 0.8% on an annual basis.

The chairman, CEO and president of the retailer, Craig Menear, said: "Our third quarter results reflected broad-based growth across our business, yet sales were below our expectations driven by the timing of certain benefits associated with our One Home Depot strategic investments. We are largely on track with these investments and have seen positive results, but some of the benefits anticipated for fiscal 2019 will take longer to realize than our initial assumptions."

Home Depot's shares were 5.29% down in premarket after the results were released.

Breaking the News / MS