Home Depot Beats Q2 Earnings Expectations Amid Pro Momentum and Digital Gains
The Home Depot posted better-than-expected earnings in its fiscal second quarter, driven by Pro momentum and digital gains. The company's adjusted earnings per share came in at $4.92, surpassing the Zacks Consensus Estimate of $4.71.
Executive vice president of Merchandising William Bastek noted that customers remained active in smaller repair and maintenance projects, with 13 of 16 merchandising departments posting positive comparable sales. The comparable average ticket rose 2.8%, while comparable transactions declined 1%.
Senior executive vice president Ann-Marie Campbell said Pro comparable sales were positive, supported by investments in assortment, delivery, sales teams, and specialized services. Executive vice president of Interconnected Retail Jordan Broggi added that online sales increased 11%, with both traffic and conversion improving.