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Lowe’s, Home Depot Report Big Profit Increases in Q3

The Home Depot and Lowe’s both continued to profit from the home renovation boom during the third quarter of 2021, as each reported significant earnings increases.

The Home Depot reported a 20.3% profit increase compared with the same period last year, with net earnings of $4.12 billion. The retailer’s net sales increased 9.8% to $36.8 billion.

Lowe’s reported net earnings of $1.8 billion in the third quarter, a 173% surge compared with the third quarter of 2020’s $692 million. Net sales for Lowe’s ticked up 2.6% to $22.9 billion.

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