Home Depot, Inc. (HD) Posts Q1 EPS of $1.00; Boosts FY14 EPS Outlook

Home Depot, Inc. (NYSE: HD) reported Q1 EPS of $1.00, $0.01 better than the analyst estimate of $0.99. Revenue for the quarter came in at $19.7 billion versus the consensus estimate of $19.96 billion.

First quarter of fiscal 2014 results reflect a benefit to earnings, net of tax, of $61 million, or $0.04 per diluted share, related to the sale of a portion of the company's equity ownership in HD Supply Holdings, Inc.

Comparable store sales for the first quarter of fiscal 2014 were positive 2.6 percent, and comp sales for the U.S. stores were positive 3.3 percent.

"The first quarter was impacted by a slow start to the spring selling season. But we had solid results in non-weather impacted markets and expect our sales for the year to grow in line with the guidance we previously provided," said Frank Blake, chairman and CEO. "I would like to thank our associates for their hard work and dedication."

Home Depot raises FY2014 EPS outlook to about $4.42, versus the consensus of $4.42. This earnings-per-share guidance includes the $0.04 per diluted share benefit related to the sale of HD Supply common stock, the benefit of the Company's year-to-date share repurchases and the Company's intent to repurchase $3.75 billion in additional shares over the remainder of the year.

For earnings history and earnings-related data on Home Depot, Inc. (HD) click here.

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