ATLANTA - The Home Depot reported a 53 percent surge in fourth-quarter income Tuesday as temperate weather, an extra week in the quarter and a torrid home construction market boosted profits.
Home Depot said net income was $710 million, or 30 cents per share, up from $465 million, or 20 cents per share, in the same period of 2000.
Analysts surveyed by Thomson Financial/First Call had expected Home Depot to earn 28 cents per share.
The Atlanta-based company said sales rose 29 percent to $13.5 billion, helped by a 14th week in the fourth-quarter, which ended this month.
The extra week added $880 million in sales, or about three cents per share.
Home Depot, the world's largest home-improvement retailer, said customer transactions topped $1 billion for the first time during its 2000 fiscal year.
For the full year, net income was a record $3 billion, or $1.29 cents per share, up 15 percent from $2.6 billion billion in the 2000 fiscal year. Revenue was $53.6 billion in 2000, up 17 percent, although sales at stores open at least a year were flat.
Tuesday
July 1st, 2025
4:24AM
