Home Depot Inc. (NYSE: HD) on Tuesday posted fourth-quarter sales and earnings that topped analysts’ estimates, boosted by strong demand for the home-improvement products.
The Atlanta-based company said revenue rose 7.5 percent to $23.9 billion in the fourth quarter. Analysts polled by Thomson Reuter had projected that revenue of $23.7 billion.
Excluding some items, the company earned $1.69 per share in the fourth quarter, beating analysts’ projection of $1.63 per share.
"Our ongoing commitment to enhance the interconnected retail experience for our customers, provide localized and innovative product, and deliver best in class productivity resulted in record sales and net earnings for 2017," said Craig Menear, chairman, CEO and president. "I would like to thank our associates for their solid execution and exceptional work in service to our customers."
Same-store sales, an important metric for retailers, rose 7.5 percent in the fourth quarter, also topping analysts’ estimates of 6 percent increase.
Hurricane-recovery efforts in Puerto Rico and the southern parts of the U.S. continued to help boost the company’s revenue.
Home Depot shares rose 1.41 percent to $189.07 in the early trading on Monday.
For 2018, the company expected revenue will grow at about 6.5 percent and comparable store sales to grow 5.0 percent.