Home Depot (HD) Tops Q1 EPS by 9c; Raises Outlook

Home Depot (NYSE: HD) reported Q1 EPS of $1.44, $0.09 better than the analyst estimate of $1.35. Revenue for the quarter came in at $22.8 billion versus the consensus estimate of $22.35 billion.

Comparable store sales for the first quarter of fiscal 2016 were positive 6.5 percent, and comp sales for U.S. stores were positive 7.4 percent.

"We were pleased with our stronger than expected start to the year, driven by solid execution and broad-based growth across the store," said Craig Menear, chairman, CEO and president. "This was made possible by our hard working associates and their continued dedication to our customers in a quarter marked by week-to-week demand spikes caused by weather variability."

GUIDANCE:

Home Depot sees FY2016 EPS of $6.27, versus the consensus of $6.23. The Company raised its fiscal 2016 sales guidance and now expects sales will be up approximately 6.3 percent and comp sales will be up approximately 4.9 percent.

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

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