NEW YORK (TheStreet) -- Shares of Home Depot (HD) were lower in mid-morning trading on Tuesday, despite the home improvement retailer reporting a 2016 third quarter beat on the top and bottom line, before today's opening bell.
"Is Home Depot not a great company or what?" TheStreet's Jim Cramer asked on CNBC's "Squawk on the Street" this morning.
The stock has historically traded off of the comments that come during the conference call, rather than the release, said Cramer.
"They delivered some unbelievable numbers and people are throwing it away," Cramer said. "Please, listen to the conference call before you make your move,"
Home Depot has been "very, very constructive on the longer term," with its CFO Carol Tome urging people to stop looking at individual quarters, he said. She wants people to note the "big demographic shift" in the U.S. as people move out of their houses.
"It comes down to her saying there's a lot of money still pent up to spend on homes," Cramer explained. Tome has been "more accurate" than any economist when it comes to Home Depot so she's worth listening to, he added.
While the stock is retreating post-results as some investors are put off by the disappointing one-off gain from Hurricane Matthew, you have to think longer term with this company, Cramer argued. "I don't think Home Depot is anything other than a fabulous story."
"Those who are throwing away Home Depot, you're throwing away a great American retailer," Cramer said.