Home Depot (HD) said its net income grew 15% in the fourth-quarter of 2021 as the big box retailer topped analyst expectations and said it sees further growth ahead this year.
The Atlanta, Georgia-based company’s revenue amounted to $35.72 billion U.S. compared to $34.87 billion U.S. that Wall Street had expected.
Net income for Q4 grew to $3.35 billion U.S., or $3.21 U.S. per share, up 15% from $2.86 billion U.S., or $2.65 U.S. a share, a year earlier. Analysts surveyed by Refinitiv data were forecasting earnings per share of $3.18 U.S.
The company recently announced a change in leadership. Chief Operating Officer Ted Decker will step into the role of chief executive officer (CEO) as of March 1 this year.
Outgoing CEO Craig Menear will continue to serve as chair of the company’s board.
As of last Friday’s close, (February 18) Home Depot shares are up 24% over the past 12 months and have outperformed the broader stock market. The company’s market value is now $362.22 billion U.S.
