Home Depot Q1 EPS rises 6% to $4.09

EPA-EFE/LARRY W. SMITH

Home Depot Inc. announced on Tuesday that its net sales in the first quarter of 2022 increased 3.8% on a yearly basis to $39 billion. Diluted earnings per share (EPS) were up 6% annually to $4.09, with a net income of $4.2 billion, a rise of 2.1% year-on-year. The company updated its 2022 guidance expecting 3% total sales growth, a 15.4% operating margin, and EPS percentage growth in "mid-single digits."

"Fiscal 2022 is off to a strong start as we delivered the highest first-quarter sales in Company history," CEO Ted Decker said. "The solid performance in the quarter is even more impressive as we were comparing against last year's historic growth and faced a slower start to spring this year."

Home Depot shares jumped 4.80% premarket.

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