The Clap
The Home Depot (NYSE: HD) recorded an EPS of $4.24 and revenues of $38.87 billion for Q3 2022, beating expectations on the top and bottom lines.
The Deets
The company saw its revenues increase by 6% YoY during the quarter, while profits were up from $3.92 per share during Q3 2021.
So What
The company is faced with great economic pressure, as rising costs and supply chain issues continue to be persistent throughout the year.
Despite the increased costs, Home Depot still believes that demand will continue to be strong as more consumers are opting to stay home.
Now What
Investors will be keen to monitor Home Depot’s performance in the coming period, as rising costs may influence consumer spending with regard to home renovation.
