Home Depot (HD) Tops Q2 EPS by 9c, Comp. Sales Up 3%; Trims FY19 Sales Guidance
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(Updated - August 20, 2019 6:04 AM EDT)
Home Depot (NYSE: HD) reported Q2 EPS of $3.17, $0.09 better than the analyst estimate of $3.08. Revenue for the quarter came in at $30.8 billion versus the consensus estimate of $30.98 billion.
Comparable sales for the second quarter of fiscal 2019 were positive 3.0 percent, and comparable sales in the U.S. were positive 3.1 percent.
"We were pleased with our results as we delivered accelerating comp performance throughout the quarter," said Craig Menear, chairman, CEO and president. "I would like to thank our associates for their hard work and continued dedication to our customers."
"We are encouraged by the momentum we are seeing from our strategic investments and believe that the current health of the U.S. consumer and a stable housing environment continue to support our business. That being said, lumber prices have declined significantly compared to last year, which impacts our sales growth. As a result, today we are updating our sales guidance to account primarily for continued lumber price deflation, as well as potential impacts to the U.S. consumer arising from recently announced tariffs. We are reaffirming our earnings-per-share growth guidance for fiscal 2019."
Fiscal 2019 Guidance
The Company updated its guidance for fiscal 2019, a 52-week year compared to fiscal 2018, a 53-week year. The Company expects its fiscal 2019 sales to grow by approximately 2.3 percent and comp sales for the comparable 52-week period to be up approximately 4.0 percent. The Company reaffirmed its diluted earnings-per-share growth guidance for the year and expects diluted earnings-per-share growth of approximately 3.1 percent from fiscal 2018 to $10.03.
For earnings history and earnings-related data on Home Depot (HD) click here.
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