5 Stocks Making Moves After Earnings Reports

3. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 68

Shares of The Home Depot, Inc. (NYSE:HD) fell to a nearly seven-month low on Tuesday, February 22, 2022, even after announcing better-than-expected financial results for the fourth quarter.

The Georgia-based home improvement retailer posted earnings of $3.21 per share, up from $2.65 per share it reported for the comparable period of 2020. Analysts were looking for earnings of $3.17 per share.

Revenue for the quarter advanced 10.7 percent versus last year to $35.72 billion, while analysts expected The Home Depot, Inc. (NYSE:HD) to post revenue of $34.87 billion. Comparable sales for the quarter increased 8.1 percent, while U.S. comparable sales rose 7.6 percent.

Looking forward, The Home Depot, Inc. (NYSE:HD) expects earnings to grow in the low single digits in the current fiscal year. Moreover, it expects FY 2022 sales and comparable sales to be slightly positively versus last year.

Speaking on the results, CEO Craig Menear said:

“Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales. Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates’ relentless focus on our customers.”