Home Depot (HD) Affirms FY12 Outlook; Boosts FY12 Buyback Guidance by $500M

The Home Depot (NYSE: HD) will today outline progress on its key strategic priorities and discuss its long-term financial targets at its 2012 Investor and Analyst Conference.

The company reaffirmed its sales and diluted earnings-per-share guidance for fiscal 2012.

In addition, the Company updated its fiscal year 2012 share repurchase guidance and now expects share repurchases of approximately $4.0 billion. This is an increase of $500 million from the guidance provided in May 2012, but given the timing of the share repurchases, the increase will not have a material impact to diluted earnings per share for fiscal 2012.

In June of 2009, the Company announced a long term operating target of a 10 percent operating profit and 15 percent return on invested capital. The Company anticipates achieving this target by fiscal year end and has now set out a new long term, fiscal 2015, operating target as follows:

• Operating margin of approximately 12 percent; and
  
  
• Return on invested capital of approximately 24 percent

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