Home Depot’s Bottom Line Takes a Hit, but for a Good Reason

Home Depot (NYSE: HD) announced its first-quarter 2020 earnings results today, and they missed analyst estimates. But looking deeper into the report should make investors feel good, as the additional costs related to COVID-19 were for worker bonuses and other new benefits. Additionally, the home improvement retailer saw sales rise 7% compared to the year-ago quarter, and same-store sales growth came in at a strong 6.4%.

Though net income missed average analyst estimates by $0.19 per share, the company said the additional employee expenses related to the pandemic cost it $0.60 per diluted share after taxes.