Home Depot (HD) Tops Q3 EPS by 5c; Updates Guidance Above Street Views

Home Depot (NYSE: HD) reports Q3 earnings of $0.41 per share, 5 cents above the consensus of $0.36. Revenues fell 8% to $16.36 billion, versus the consensus of $16.28 billion. Comparable store sales for the third quarter were negative 6.9 percent, and comp sales for U.S. stores were negative 7.1 percent.

"There is still a great deal of pressure in the housing and home improvement markets, though there are some positive signs of stabilization," said Frank Blake, chairman and CEO. "Our business continues to perform well in a difficult environment. We grew market share in the quarter, continued to transform our business and improved customer service. I want to thank our associates for their hard work and dedication.

Home Depot now sees FY10 EPS of $1.55, versus the consensus of $1.53. Sees sales down ~9% for the year.

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