Home Depot, Inc. (HD) Tops Q2 EPS by 7c; Boosts FY14 EPS Outlook

Home Depot, Inc. (NYSE: HD) reported Q2 EPS of $1.52, $0.07 better than the analyst estimate of $1.45. Revenue for the quarter came in at $23.8 billion versus the consensus estimate of $23.61 billion.

"In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies," said Frank Blake, chairman and CEO. "I would like to thank our associates for their hard work and dedication, especially at this time of increased demand."

Updated Fiscal 2014 Guidance

The Company confirmed that it expects fiscal 2014 sales will be up approximately 4.8 percent from fiscal 2013. Based on its second quarter performance and its outlook for the year, the Company raised its fiscal 2014 diluted earnings-per-share guidance and now expects diluted earnings per share to be up approximately 20.2 percent to $4.52 for the year. This earnings-per-share guidance includes the benefit of the Company's year-to-date share repurchases of $3.5 billion and the Company's intent to repurchase an additional $3.5 billion of shares over the remainder of the year. The Street consensus is FY14 EPS of $4.41.

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

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