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Home Depot feels the wind at its back in third quarter

ATLANTA — Sales at Home Depot surged during the third quarter, a period marked by massive rebuilding efforts after severe hurricanes struck Florida and Texas, wildfires consumed entire neighborhoods in the West.

The Atlanta home improvement retailer is one of the inadvertent winners of catastrophe, including hurricanes Harvey and Irma, which shaved as much as at least one-half of 1 percentage point off annual growth for the U.S. in the same quarter.

Home Depot, which is furnishing a lot of materiel for the recovery, raised its outlook for the year Tuesday.

The company earned $2.17 billion, or $1.84 per share, for the three months ended Oct. 29. That’s 3 cents better than expected, according to a survey by Zacks Investment Research.

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