New year, same results; 1Q sales roar at Home Depot

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Home Depot continues to fill the needs of the surging housing market during the pandemic, with fiscal first-quarter sales soaring and blowing past Wall Street’s expectations.

The Associated Press

Sales hit $37.5 billion, up 32.7% from the same year, far better than analyst projections of $34.88 billion, according to Zacks Investment Research, jumped 31%. In the U.S., those sales rose 29.9%. Home Depot's profit nearly doubled, hitting $4.1 billion, or $3.86 per share. That compares with $2.2 billion, or $2.08 per share, a year ago. Wall Street expected $3.04 per share.

 

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They are out of many essential building products and backordered months behind

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When lumber costs 4x what it did 6 months ago, that’s going to help revenue.

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