US' The Home Depot posts sales of $43.8 billion in Q2 FY22

Net earnings for the second quarter of fiscal 2022 were $5.2 billion, or $5.05 per diluted share, compared with net earnings of $4.8 billion, or $4.53 per diluted share, in the same period of fiscal 2021, representing an 11.5 per cent increase in diluted earnings per share, the company said in a press release.

"In the second quarter, we delivered the highest quarterly sales and earnings in our company's history," said Ted Decker, CEO and president. "Our performance reflects continued strength in demand for home improvement projects. Our team has done a fantastic job serving our customers, while continuing to navigate a challenging and dynamic environment. I would like to thank them and our many partners for their hard work and dedication to our customers."

The company has reaffirmed fiscal 2022 guidance of total sales growth and comparable sales growth of approximately 3.0 per cent, operating margin of approximately 15.4 per cent, net interest expense of approximately $1.6 billion and tax rate of approximately 24.6 per cent.

Fibre2Fashion News Desk (RR)