Home Depot Inc. released on Tuesday its earnings report for the first quarter of 2021, announcing its revenue was $37.5 billion, up 32.7% compared to the same period in 2020. Operating income came in at $5.7 billion, an increase of 76.5% on an annual basis. Net income stood at $4.1 billion, rising 84.6% year-on-year. Diluted earnings per share (EPS) grew 85.6% to $3.86.
“Fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects,” said CEO Craig Menear.
The company’s shares were up 2.25% in premarket trade after the release of the earnings report. Nick Note: This is some hot shit. Millennial are at the nest building stage. And flush with cash to burn… this will continue