The Home Depot Announces Fourth Quarter and Fiscal 2020 Results; Increases Quarterly Dividend by 10 Percent
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ATLANTA, Feb. 23, 2021 /PRNewswire/ The Home Depot
®, the world s largest home improvement retailer, today reported fourth quarter and fiscal 2020 results.
Fourth Quarter 2020
Sales for the fourth quarter of fiscal 2020 were $32.3 billion, an increase of $6.5 billion, or 25.1 percent from the fourth quarter of fiscal 2019. Comparable sales for the fourth quarter of fiscal 2020 increased 24.5 percent, and comparable sales in the U.S. increased 25.0 percent.
Net earnings for the fourth quarter of fiscal 2020 were $2.9 billion, or $2.65 per diluted share, compared with net earnings of $2.5 billion, or $2.28 per diluted share, in the same period of fiscal 2019. For the fourth quarter of fiscal 2020, diluted earnings per share increased 16.2 percent from the same period in the prior year. Net earnings for the fourth quarter and the fiscal
Home Depot on Tuesday posted a 25.1% spike in fourth-quarter total sales to $32.3 billion.
Same-store sales jumped 24.5%, beating analysts average estimate of an 18.9% increase.
The outlook for consumer spending remained uncertain, Home Depot said.
Home Depot beat quarterly same-store sales estimates on Tuesday, riding a sustained wave of demand for home improvement goods as the COVID-19 pandemic drags on.
However, the company s shares fell 1.5% in low-volume premarket trading, after Home Depot warned that it was unable to predict how consumer spending would evolve this year. If the demand environment during the back half of fiscal 2020 were to persist through fiscal 2021, it would imply flat to slightly positive comparable sales growth, Richard McPhail, the company s chief financial officer, said.
Home Depot (NYSE: HD) reported positive fourth-quarter earnings on Tuesday, beating investor expectations as consumers continued to spend on home renovations.