Home Depot sales see uptick from hurricane recovery [Video]

Home Depot expects a smaller decline in annual store sales following better-than-expected performance over the past three months, which was partly driven by hurricane recovery efforts.

“As weather normalized, we saw better engagement across seasonal goods and certain outdoor projects as well as incremental sales related to hurricane demand,” CEO Ted Decker said in the company’s earnings release Tuesday. 

Decker told analysts Tuesday that the company’s third-quarter performance exceeded expectations despite “macroeconomic uncertainty.” 

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Shares of the company rose during trading Tuesday following the better-than-expected results. 

Joe Feldman, Telsey Advisory Group senior managing director, said in a Tuesday note that the “warmer and dryer weather” extended demand for summer categories like paint and outdoor grills and recovery efforts following Hurricanes Helene and Milton boosted sales of generators, batteries, plywood and building materials.

Revenue jumped to $40.22 billion for the quarter, surpassing analysts’ expectations of $39.31 billion.

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