HD Home Depot Inc

By Matt Grossman

Home Depot Inc. Tuesday logged faster-than-expected sales growth in the three months through January, contributing to a greater profit over last year.

The Atlanta-based home-improvement retailer logged fourth-quarter earnings of $3.21 a share, a rise from $2.65 a share 12 months earlier. Analysts polled by FactSet were expecting earnings of $3.20 a share.

Net earnings rose to $3.35 billion, from $2.86 billion a year ago.

Sales rose 10.7% to $35.72 billion. Analysts had expected sales of $34.88 billion. Comparable sales rose 8.1%, with a 7.6% comparable-sales increase in the U.S.

The fiscal year that ended in January marked Home Depot's first such period with more than $150 billion in sales. Strong demand for home-improvement supplies during the pandemic has boosted the company's performance.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

February 22, 2022 06:27 ET (11:27 GMT)

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