Home Depot, an American home furnishings e-commerce company, announces Q2 results! Revenue hits a record high of $43.8 billion!

It is learned that recently, the US home furnishing e-commerce Home Depot announced its financial results for the second quarter of 2022. The report shows that the retailer continued its strong momentum in the first quarter in the second quarter.

In the second quarter, Home Depot's net sales were US$43.792 billion, a year-on-year increase of 6.5%, higher than the market expectation of US$43.37 billion; net profit was US$5.173 billion, a year-on-year increase of 7.6%; diluted earnings per share were US$5.05, compared with US$4.53 in the same period last year, higher than the market expectation of US$4.95.

Home Depot's same-store sales in the second quarter increased by 5.8% year-on-year, with same-store sales in the United States increasing by 5.4%; gross profit was US$14.483 billion, up 6.0% year-on-year.

Although Home Depot's order volume fell 3.0% to 467.4 million during the quarter, the average order value increased 9.1% to $90.02. In addition, sales per retail square foot were $700.62, up 5.7% year-over-year.

Home Depot CEO Ted Decker said the company achieved record quarterly sales and earnings in the second quarter. The strong results reflect continued strong consumer demand for home improvement projects.

It is learned that in the last quarter, Home Depot's net sales reached US$38.91 billion, exceeding the expected US$36.71 billion and increasing by 3.8% year-on-year, setting a new record high.

Home Depot also reiterated its guidance for the next fiscal year 2022. Here are the specific data:

• Total sales and same-store sales both increased by approximately 3.0%
• Operating profit margin is approximately 15.4%
• Net interest expense was approximately $1.6 billion
• The tax rate is about 24.6%
• Diluted earnings per share to increase in the mid-single digits

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.