Home Depot (HD) has reported better-than-expected third-quarter earnings despite rising costs and a slump in the U.S. housing market.
The Atlanta, Georgia-based home improvement retailer announced earnings per share (EPS) of $4.24 U.S. versus $4.12 U.S. that was expected by analysts on Wall Street.
Revenues for Q3 came in at $38.87 billion U.S. compared to $37.96 billion U.S. that was forecast, according to Refinitiv data.
Home Depot said that while its customer transactions were down 4% in Q3, its average ticket price rose 9% to $89.67 U.S. The company also said that its sales per-retail-square-foot rose 5% in the July through September period.
Home Depot also reaffirmed its full-year guidance, saying that it expects comparable store sales to grow about 3% and an operating margin of 15%.
Home Depot’s stock is down 25% this year at $306.92 U.S. per share.
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