- Home Depot Inc (NYSE:HD) reported second-quarter FY21 sales growth of 8% year-on-year, to $41.10 billion, beating the analyst consensus of $40.73 billion.
- Customer transactions for the quarter fell 5.8%.
- Comparable sales increased 4.5%, and comparable sales in the U.S. rose 3.4%.
- Gross profit rose 5.6% Y/Y to $13.7 billion.
- The operating margin was 16.1%, and operating income for the quarter rose 9.4% to $6.6 billion.
- The company held $4.6 billion in cash and equivalents as of August 1, 2021.
- Net cash provided by operating activities for the six months totaled $9.9 billion.
- EPS of $4.53 beat the analyst consensus of $4.43.
- “I am very proud of our associates, who continue to demonstrate a relentless focus on serving our customers. As a result of their efforts, we achieved a milestone of over $40 billion in quarterly sales for the first time in Company history,” said chairman and CEO Craig Menear.
- Price Action: HD shares are trading lower by 4.55% at $319.79 on the last check Tuesday.
Death Cross Looms Over InterContinental Hotels Investors
If history is any guide, there may be trouble ahead for shares of InterContinental Hotels (NYSE:IHG). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
