Home Depot sees strong comparable sales after average ticket soars

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Home Depot (NYSE:HD) blasted past expectations with its Q4 report, headlined by a comparable sales gain of 8.1% vs +5.3% consensus.

Customer transactions fell 3.4% during the quarter for the home improvement retailer, but average ticket was up 12.4% to $85.11. Sales per retail square foot rose 8.3% to $571.79. Comparable sales were up 7.6% in the U.S.

Net income came in at $3.35B for Home Depot (HD) vs. $2.86B a year ago.

Looking ahead, HD guided for sales growth and comparable sales growth to be slightly positive and operating margin approximately flat with fiscal 2021.

CEO statement: "Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates' relentless focus on our customers."

Shares of Home Depot (HD) rose 0.52% premarket to $348.68 following the earnings topper.