Home Depot announces Q3 earnings, $1.65 dividend

The Home Depot store on Cumberland ParkwayThe Home Depot store on Cumberland Parkway (photo by Larry Felton Johnson)

According to a press release issued Tuesday, Cobb County-headquartered international home improvement retail giant The Home Depot reported sales of $36.8 billion for the third quarter of fiscal 2021, an increase of $3.3 billion, or 9.8 percent from the third quarter of fiscal 2020.

“Comparable sales for the third quarter of fiscal 2021 increased 6.1 percent, and comparable sales in the U.S. increased 5.5 percent,” the press release stated.

The announcement also stated that “Net earnings for the third quarter of fiscal 2021 were $4.1 billion, or $3.92 per diluted share, compared with net earnings of $3.4 billion, or $3.18 per diluted share, in the same period of fiscal 2020. For the third quarter of fiscal 2021, diluted earnings per share increased 23.3 percent from the same period in the prior year.”

“As evidenced by our strong performance in the quarter, our team continues to do an outstanding job of operating with flexibility and agility,” said Craig Menear, chairman and CEO. “Ultimately, this is what has allowed us to respond to the elevated home improvement demand that has persisted. I would like to extend my sincere appreciation to our team, as well as our supplier, supply chain, and transportation partners, as we continue to navigate this dynamic environment together.”

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In a separate press release Thursday the company declared a third quarter cash dividend of $1.65 per share.

About The Home Depot

The Home Depot was founded in 1978 after co-founders Bernie Marcus and Arthur Blank were fired from the Handy Andy home improvement chain in southern California.

They decided to go into business together and opened three stores in Atlanta.

According to company promotional materials:

The Home Depot is the world’s largest home improvement specialty retailer. The Company operates a total of 2,298 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2020, The Home Depot had sales of $132.1 billion and earnings of $12.9 billion. The Company employs approximately 500,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

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